Strategy 9: Be willing to take the
Big Risk
Hi
there~. In this post I am giving the summary of the chapter 9, Risk, of L@E,
and then I am providing my thought on the chapter, as usual. Chapter 9
discusses risk, and it suggests that leaders need not to take unnecessary risk
but need to take it if you find it is worth doing. I am first summarizing this
chapter and then show my brief impression of it.
Never Take an Unnecessary Chance
Leaders
should evaluate a risk carefully, and if it is unnecessary one, they have responsibility
to say “No”. Shackleton has a great ability to avoid these unnecessary risks.
For example, when the expedition party found the land and the pressure to launch
boats increased, Shackleton decided not to do so. This was because there was a
risk that the boats could get crushed by the ice. His decision saved the lives
of his men. Thus, we should remember that there are times not to take a risk.
When a Risk Is Justified, Do Not
Hesitate
There
are however, times to take a risk as well. Of course leaders need to evaluate a
risk carefully, but if the return outweighs the risk, they should take it. And in
so doing, they need not to be hesitate to take the risk. The important thing is
to assess the risk and balance it with the return as well, according to this
section.
Impression
I
felt it is really tough and difficult for me to take a risk. I am always
wondering what risks I should take and what risks I should not. In other words,
I am wondering how we can evaluate risks. This could be one of the challenges
which I need to resolve I assume. Does anyone have any idea how we are able to
divide a risk into the unnecessary one and the one which we should face?
Hi Yu,
返信削除I am not sure I have an easy answer to the question you ask here about when to take risks, but I think the consequences of failure are a big consideration. Asking yourself, "What is the worst that could happen?" is a good question. If ithe answer is, I might die, then maybe your shouldn't. If it is, maybe everyone will laugh at me, then maybe you should take the risk if there is the chance that everyone will laugh with you. Another point is that when you are young is a great time to take risks, fail, learn, take another risk, fail, learn some more, and see the taking of risks and failure and great learning opportunities.
Hi, Yu and Ken,
削除It is very easy to understand Ken's example of what are worst outcome or better one when choosing and taking risks. I couldn't imagine what unnecessary risk is, but after reading it, I noticed that Shackleton did not take worst risk that everyone cannot go home, like failure of Karluk. Thank you for let me understand.