Risk Taking Kathleen Grace, MA, PhD ABD Grace Consulting

Transcription

1 Risk Taking Kathleen Grace, MA, PhD ABD Grace Consulting

2 About GCS Organizational psychology consulting firm specializing in the assessment and development of leadership potential Over 15 years experience in selecting and developing leaders in North America, South America, and Europe

3 About GCS Assessment Development Selection Executive Coaching Leadership Development Programs Succession Planning Leadership Team Performance Consulting Leadership Due Diligence for M&A Transactions

4 Research What does the research tell us about men and women when it comes to risk taking?

5 Nature Men are much more likely to be Level 1 (sensation-seeking) risk takers Women almost equally likely to be Level 2 (plan-based) risk takers Women tend to experience emotions more intensely than men especially fear and nervousness

6 Are We Yet? Having Fun

7 Nurture Parents intervene far more with girls than boys in risky situations Parents emphasize safety and vulnerability far more with girls Girls make internal personal attributions when they get hurt; boys make external situational attributions These attributional patterns tend to remain into adulthood

8 So What? Personality type may be more important than gender Gender differences tend to decline with age Emotions tend not to be mediated by cognitions, but cognitions are mediated to some extent by emotions limbic system hijack Personal experience with outcomes is the biggest factor in future risk taking

9 Your playing small does not serve the world Nelson Mandela

10 Beyond Just Do It

11 It's not the years in your life but the life in your years that counts Adlai Stevenson

12 Get Help Look for someone with more experience and/or expertise Strength in numbers try new things with others who are also learning Leverage your internal and external network

13 Mitigate the Risk

14 When you trust yourself you will know how to live Goethe Build your risk cushion Understand the power of post-decision control Do your homework, but know when to stop Do something productive with your worry turn it into scenario planning

15 Understand Understand the Learning Curve the Learning Curve

16 THE LEARNING CURVE Assumed Actual

17 Failing Does Not Make You A Failure Be prepared to get worse before you get better Practice makes better Failures are at least as valuable as successes Some stress is good Stress & optimal performance Stress & decision making

18 Performance Stress

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20 The best way to predict the future is to create it Abraham Lincoln Sometimes we erroneously equate doing nothing with equilibrium Force yourself to assess the downside and the upside of taking a risk Weigh the option of doing nothing against other valid options

21 Strong Emotion Balance with Strong Analysis

22 No one can make you feel inferior without your consent Eleanor Roosevelt Nothing wrong with strong emotions but beware advice to go with your gut if your gut only says run away!!! Frame risks as opportunities Recognize the role conditioning may play & create new response patterns Remember that fear is very personal

23 Increase Your Commitment to Yourself

24 Being deeply loved gives you strength, loving someone deeply gives your courage Lao Tzu People do courageous things when their commitment is highest to the idea and to a belief in themselves Give yourself credit for risks you have already taken Take care of yourself Visualization think about how good you are going to feel after you just did it'!

25 Strategies Re-Cap Get help Mitigate risk Understand the learning curve Assess the real risk of doing nothing Balance emotions with rational process Increase your commitment to yourself

26 Your Risk Goal The strategy I will apply is (name it) I will do (what action steps) By (when) I expect (what results to accrue how will I measure success)

27 What if NONE of This Appeals to You? Market yourself as being on defense Figure out how your strengths can become a strategic advantage for your team: Disorganization Planning Worry Impulsiveness Risk Analysis Negativity Groupthink Devil s Advocate Pessimism

28 Q & A: Are We Having Fun Yet?

29 Risk-Taking Journal Reflect on the decision you made this week Event what happened, who was involved? Reaction What did I do? What did I think? What did I feel? Lessons Did I take any risks? Should I have pushed harder in some area? When I felt scared, what messages was I giving myself/others? Do I need to challenge/change any of those? In this situation, who do I most want to be? What did I learn?

30 Be more committed to your dreams than your fears