Posted: March 12th, 2023

module 4 dis

Risk Taking Mini-Assessment

Read each statement and provide your initial reaction withi in-depth thought. You will get additional instructions shortly.

Circle the number that best matches your initial reaction.

1=Total Disgreement 3=Neutral 5=Complete Agreement

1 2 3 4 5

1 2 3 4 5

1 2 3 4 5

1 2 3 4 5

1 2 3 4 5

1 2 3 4 5

1 2 3 4 5

1 2 3 4 5

1 2 3 4 5

1 2 3 4 5

Transfer your scores from the mini-assessment, reversing scores marked with an asterick (items 2, 9, 11) according to the following scale:

5=1 4=2 3=3 2=4 1=5

Assess your results by marking the appropriate block with an “X.”

From THE LEADERSHIP CHALLENGE® ACTIVITIES BOOK

We all have different levels of tolerance for risk based on many factors – personality, life experiences, situations, etc.  Leaders make others feel safe in taking risks.  They also make it okay to make mistakes because it is often what we learn from those mistakes that have lasting impacts.  

People don’t necessarily dislike change, they dislike the challenges that come with it.  We can’t achieve anything new or extraordinary by doing things the way we’ve always done them.  We often need to test strategies and bold ideas and take calculated risks when we take on uncertainty.   Challenging the Process involves some risk.  

Take the 

Risk Assessment

 and respond to the following questions applying content from Chapter 6.  

1) Which of the statements (pick one) do you feel has the most relevance to reasonable risk-taking and leadership growth?  Why do you think that?

2) Do you feel most organizations support reasonable risk-taking and an environment of learning from mistakes?  Why or why not?

3) Imagine you are in a group has been charged with promoting an environment that utilizes a proper balance of safety in choices and risk-taking.  What advice would you give to support this balance to create a culture of learning from mistakes?

Respond on the following directly.

Classmate 1

1. I believe statement number 8 “Confidence is built by learning by learning from both successes and failures” is most relevant to reasonable risk-taking and leadership growth. I think that because as a leader we have to be able to fail, and part of taking risks is to fail. I think it’s important to take calculated risks and that success doesn’t come without some level of risk, even if it is small. I also believe that confidence does grow from success, but especially from failures as we learn what will or will not work.

2. I feel that some if not most organizations support reasonable risk-taking and an environment of learning from mistakes. I do feel that there are several that do not. I believe it depends on the organization and individuals within it, their goals, expectations, etc. In my personal experience with my job, I have been in an environment where reasonable risk-taking and learning from mistakes are supported. I work in a restaurant where mistakes are made every day and we do our best to correct those mistakes and serve our customers. Many of the mistakes I have personally made I was able to learn from. In those cases, I knew or was shown exactly what I had done wrong without a heavy hand. In this industry, mistakes are guaranteed to be made at some point by experienced workers, especially new hires.

3. There are several points of advice that I would give to support the balance of safety in choices and risk-taking to create a culture of learning from mistakes. The first point would be to encourage open communication within the group so that members feel comfortable sharing their thoughts, opinions, concerns, etc. Secondly, fostering a growth mindset within the group by encouraging members to view mistakes as learning opportunities and they’re natural in the learning process. Another point would be to set clear boundaries within the group so that consequences are understood when taking unnecessary risks, and that there is balance. Lastly, I believe it is very important to lead by example by taking risks, admitting mistakes, and embracing growth.

4. Risk-taking is critical to Challenge the Process because the risk is a part of the process. It is crucial to try new things, and there will always be positive or negative outcomes to learn from. We develop and learn ways to improve by taking risks in our environment. 

Classmate 2

1) I think that statement number seven, “As my confidence grows, I take more risks.”, has the most relevance to reasonable risk-taking and leadership growth. As we take risks, we either have a good or bad outcome. With the good outcomes, our confidence grows because it ended well. With the bad outcomes, we can learn

less

ons from it not going well, and we can retry those risks when the opportunity presents itself. This can change the outcome from bad to good. Our confidence grows from that learning experience, and it also grows once we retry and succeed. With good confidence, we are more willing to take on risks.

2) I think some do support risk-taking and some do not. I think the organizations that do support it because they are wanting the people within the organization to learn. Some organizations are learning opportunities for people, so without taking risks, some are unable to learn. I also think with risk-taking; it can open new opportunities for the organization. An organization is meant to grow, and risk-taking is a way to learn new things and take the opportunity to grow. With that, I think the organizations that do not support risk-taking do not have room for the risks to end in a bad outcome. Some organizations may have already taken too many risks that ended in bad outcomes, so they may be eerie about taking new ones.

3) Risk-taking can be a great learning experience, but you want to be sure that the risks are safe to take. If a risk ends in a bad outcome, you can evaluate why it went wrong and learn from the bad outcome. If it ends well, you can still learn from that experience and determine what you could do better in the future. Risk-taking consists of lessons learned, whether good or bad.

4) Challenge the Process promotes risk-taking experiences. Challenge the Process looks for ways to learn new ideas and methods as well as ways to develop new skills and abilities. It also searches for ways to improve and learn from experiences. These are all things that go along with risk-taking. None of these things can be done without taking risks.

Classmate 3

This discussion is very interesting and relevant to my work.  In my law practice, I serve as risk management counsel for one of the largest storm and water damage restoration/remediation franchisees in North America.    They have franchise operations in three states, and provide services throughout the US.  In managing exposure, potential liability and potential litigation, I lean hard toward the limited risk side of the spectrum.  By nature of the business, the employees lean into risk when they travel toward hurricanes, wild fires, tornado stricken areas, and the like.   In managing the business risks, I look to contract provisions, insurance coverage, appropriate HR policies and practices, etc.  It is impossible to avoid all risk, but a balance is necessary.  With risk comes growth, but there should be a cautious calculation of risk rather than a reckless attitude toward risk.  We are constantly learning from mistakes, and adjusting so those mistakes are not repeated.  The key, in my opinion, is preparedness and readiness to shift, adjust, change and learn.  

less