The article explores how companies decide on technology and financial risk management. Flexible technology helps with uncertain demand, while financial risk management deals with costs of borrowing money. The firm's budget can be boosted by external borrowing, and financial risk management can change how money is used. The study finds the best mix of risk management depends on firm size, technology costs, market demand, and borrowing costs. The research shows how operational and financial strategies work together and how they affect each other.