explore · Strategy · 60–90 min · 5-20 people · medium energy

Smart Risk-Taking Assessment

This method helps organizations evaluate their approach to risk-taking and identify areas for improvement. It promotes a culture of calculated risk-taking that balances innovation with responsible decision-making.

When to use Smart Risk-Taking Assessment

Use this when an organization wants to foster innovation but is hesitant to take risks, or when past risk-taking has led to negative consequences.

What it solves

Risk-averse culture, fear of failure, lack of clear guidelines for risk-taking, costly mistakes due to poorly assessed risks.

How to run Smart Risk-Taking Assessment, step by step

  1. Introduce the concept of smart risk-taking and its benefits. (10 min)
  2. Assess the organization's current risk-taking culture using a questionnaire or survey. (20 min)
  3. Discuss the assessment results and identify areas for improvement. (30 min)
  4. Develop actionable strategies for promoting smart risk-taking within the organization. (30 min)

Materials needed

  • Risk-taking assessment questionnaire
  • Whiteboard or flip chart
  • Markers

Facilitator tips

  • Emphasize the importance of learning from both successes and failures.
  • Encourage participants to challenge assumptions and think creatively about risk management.

Common pitfalls

  • Participants being unwilling to acknowledge the organization's risk-taking weaknesses.
  • Lack of leadership support for promoting smart risk-taking.

Variations

  • Use case studies to illustrate examples of smart and unwise risk-taking.
  • Invite external experts to share their perspectives on risk management.

Running it online or hybrid

Use a shared online document or whiteboard for collaborative assessment and discussion.

What it produces

A risk-taking profile that identifies the organization's strengths and weaknesses in managing risk, along with recommendations for improving its risk-taking capabilities.

Origin

Inspired by NOBL Academy's article on Smart Risk-Taking — source

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