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Courage isn’t about reckless risk-taking but is often the result of calculated actions that are taken in a measured and appropriate manner.
In business, bold, courageous actions provide the risk-takers with psychological currency, a kind of motivational force that emboldens an otherwise risk-averse individual.
Boldness becomes the fundamental component while pursuing an endeavour which is high in risk and reward.
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Courage is the pursuit of a higher purpose, according to Aristotle.
Courage is truly present when the fear is known and real, yet action is taken with eyes wide open. Many business actions like a hostile takeover, purchasing volatile stock or even the very act of starting a business are representations of a courageous act.
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... is critical in uncertainty. We too often judge people by the outcomes of the decisions instead of on the process that was used to reach them.
However, isn’t it better if people had an unfortunate result and a great process than someone who had a successful outcome but flipped a coin to get there?
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They are what you consider most important in your life, literally what you “value. ” They are broad concepts that can be applied across a wide range of circumstances, as opposed to narrow answers t...
The core values that are most valuable to each of us come from our own personal experience, not from being taught.
As you put them into practice you’ll get better at internalizing these values and they’ll express themselves subconsciously with smaller decisions, as well.
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Risk protection is normally done to minimize the harm a particular activity can do to us. There are various things we do to reduce our risk, to make ourselves safer.
Behaviour scientists po...
Having a safety device in place, and armed with the knowledge that we can push the envelope a bit, the appetite for risk increases.