‘The amount of eccentricity in a society has generally been proportional to the amount of genius, mental vigour, and moral courage it contained. That so few now dare to be eccentric marks the chief danger of the time.’
John Stuart Mill
Taking risks in business is about looking for the next ‘gust of air’, to bring your kite into full sail. It’s about creating a sense of adventure and seeking out the opportunities for new gains. It means waving goodbye to mediocrity and allowing mistakes to happen on the way to innovation, motivation and enthusiasm.
Passion, energy and drive are sometimes all that sustain entrepreneurs as they figure out how to take their business ideas, products and services to market, against the sleepless tensions of bank loans, overdrafts and late payments from clients. Small businesses often have no choice but to take gambles, but when they pay off the excitement and thrill is beyond compare. Big businesses, on the other hand, scare themselves into a corner, with the expectations of stakeholders, shareholders and investors riding on stability and steady growth.
Trouble is, when companies become bigger and fatter they tend to create layers of bureaucracy to protect the status quo which readily converts to risk aversion. When this happens they starve the business of innovation and excitement and employees lose their enthusiasm, and tempo. Thus the organisation suffers from lack of courage and creeping inertia, paradoxically creating an even bigger risk.
‘Risk Dynamics’ looks at attitudes and behaviours of individuals in both risk averse and risk-taking workplace environments and the effects these have, contrasting perceptions of:
- Harm – v - Adventure
- Financial loss – v – Reward
- Social/Business convention – v – Personal gratification
- Entrepreneurial dynamism – v – Steady business growth
We also explore the risk-taking behaviours of entrepreneurs to understand the ‘flying by the seat of your pants’ mentality and the psychology of positive attitude.
Our seminar engages delegates in determining how they define their own personal risk boundaries and the sense of achievement they experience when they try different approaches.