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Wednesday, February 23, 2011

3 Ways to Encourage Risk-Taking - Harvard Business Review

Over the past few years, the economy has forced many companies to play it safe and take few, if any, risks. If your company culture has become — or always has been — risk-averse, try doing the following three things to turn it around:
  1. Evaluate risk-taking. Take an honest look at your company or unit and assess whether people avoid risks. Utilize interviews, skip-level meetings, or anonymous surveys to gauge whether people feel anxious or hold back ideas.
  2. Make idea-sharing safe. Create a "safe space" where managers and employees can voice their concerns, feedback, and ideas — without fear of retribution.
  3. Experiment. Ask a team in a part of the company you want to grow to conduct a series of rapid-cycle experiments to test new ways of working. Make it explicit that failure is acceptable as long as learning comes
    from it.

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