Product details

By continuing to use our site you consent to the use of cookies as described in our privacy policy unless you have disabled them.
You can change your cookie settings at any time but parts of our site will not function correctly without them.
Management article
-
Reference no. U0802A
Authors: Anne Field
Published by: Harvard Business Publishing
Published in: "Harvard Management Update", 2008

Abstract

Successful innovations deliver tremendous value, generating new products, fresh strategies, and better processes. But most managers shy away from the risk taking that innovation necessarily involves. To cultivate a healthy appetite for risk, organizations can learn to extract more value from the inevitable failures. This article explains how to create a risk-friendly culture by increasing the potential gains and reducing the potential costs of risk taking, reducing individuals'' accountability on riskier projects, and productively managing failure.

About

Abstract

Successful innovations deliver tremendous value, generating new products, fresh strategies, and better processes. But most managers shy away from the risk taking that innovation necessarily involves. To cultivate a healthy appetite for risk, organizations can learn to extract more value from the inevitable failures. This article explains how to create a risk-friendly culture by increasing the potential gains and reducing the potential costs of risk taking, reducing individuals'' accountability on riskier projects, and productively managing failure.

Related