CHAPTER SIXTEEN

Supporting Smart Risk Taking

What gets measured gets managed.—PETER DRUCKER

By this point in the book, it should be obvious that smart risk taking isn’t a series of crazy bets and gutsy heroics. Rather, it’s a thoughtful process of planning, experimenting, and learning that is designed to generate new ideas and drive growth more consistently. Like any challenging process, it needs to be supported in order to flourish.

First, supporting smart risk taking requires defining what it means in your organization, distinguishing smart risks from other risks, and getting things down to explicit expectations and behaviors that can be shared and discussed. You need to set the field of play, helping everyone understand what’s “in bounds” ...

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