Successful companies embrace risk-taking along with learning.

 

Often, these two concepts get lip service – and little else. Too many managers urge their people to try new

things and then punish them when they fail. And too many live in ‘not-invented-here’ worlds of their own

making.

 

If managers want people to experiment and expand their minds, they must create a culture that welcomes

taking risks.

 

Leaders should freely admit their own mistakes and talk about what they learned from them.

 

To use a baseball analogy, show that it’s acceptable to take swings and miss! As long as you learn from

them.

 

This does not mean taking major or foolish chances. A calculated risk is the way to business growth.

 

Strategic planning is purposeful risk-taking; you know what you are doing and where you are going.

 

Source: Winning, Jack Welch