It would be ideal to do business without risk, but that is not possible. Risks have been given a significant role in the business world because every business activity of a company is accompanied by certain risks that they try to anticipate and manage. Risks can be defined as the threatening possibility of occurrence of temporally and spatially unpredictable events that cause subjective or objective circumstances, where damage can occur. The main causes of risk are uncertainty and the action of the human factor. There are many risks in foreign trade, but commodity and financial risks are considered the most important. Companies use all available methods and capabilities to insure against risk, and any risk management involves identifying, analyzing, and selecting appropriate methods to address it. Risk management helps companies to be more active, efficient and competitive in today's market. In this paper, an example of risk management is presented at the Podravka Group. Podravka is one of the oldest and most famous companies in Croatia and the world and a major Croatian exporter. It abounds in a long tradition and recognition of its brands around the world. In its business, it encounters certain risks, the most important of which are currency risk and price risk. In the area of risk management, all activities are focused on the ERM (Centralized Risk Management) project. Risks can be predicted, but they cannot be completely avoided.