How measuring and actioning calculated risks can increase innovation

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Professional attributes

Risk-takers are people willing to explore outside the parameters in order to achieve their goals. They often take calculated risks and step outside of their comfort zones.

Often they move into intrapreneurship or entrepreneurship, as they can handle the risk and instability of the roles. They are willing to tolerate uncertainty or potential loss in the hope of great achievement.

Risk-taking can be negative if it puts a person in danger, but positive risk-taking is the ability to identify and assess benefits versus harm of exercising one choice over another. In an organisation strategic risks are balanced by weighting the scenarios and risks to achieve strategic and objectives.

What does a higher score mean?

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You like to take risks and consider exploring solutions and actions outside of your comfort zone. You can handle the potential uncertainty when considering the potential of success and outcome.

What does a lower score mean?

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You do not like taking risks and consider the potential loss of taking risks too great to consider. You prefer stability and known outcomes.

To nurture your risk taking:

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Overcome fear, but listing the pros and cons of each perceived risk, reducing the uncertainty of the outcome. Consider taking small calculated risks over time, perhaps with 70-80% certainty, to build up a tolerance and increase experience. Try to envision risk as something that can be calculated and managed rather than danger or something frightening.

Use this checklist for self-evaluation

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  • Do you nurture change in your life?
  • Do you experiment with new ways to do things?
  • Can you cultivate courage day to day?
  • Do you move outside of your comfort zone, even 5%?
  • Do you have a long-term goal, where small risk-taking may help you achieve it?
  • Can you acknowledge and learn from perceived or real failure?

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