Leadership Essentials: Evaluating Risk
Risk-taking is necessary if organisations are to improve, develop and compete effectively, yet organisations that hide or punish failure will revert to a risk-averse culture that inhibits risk-taking by employees. There is a need to take risks, but it is important that they are managed effectively. If you and your team are going to embrace risk, you need to demonstrate that risk-taking is an acceptable part of your organisation’s culture.
‘Leadership Essentials: Evaluating Risk’ provides an overview of why evaluating risk is essential for leadership capability and includes ‘Top Tips’ on how evaluating risk can help you become a better leader.
The Essentials leaflet is supported by three Spotlights that look at aspects of evaluating risk in more detail to help you improve your leadership skills:
- Understanding Risk
- Managing Risk
- Measuring risk
"The biggest risk is not taking any risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks".
Attributed to Mark Zuckerberg (2011)
"Risk management involves understanding, analysing and addressing risk to make sure organisations achieve their objectives. So it must be proportionate to the complexity and type of organisation involved"
Institute of Risk Management (2018)
"I think the soundest management advice I’ve heard is the old saw: 'What gets measured gets done'"
Tom Peters (1986)