Innovation requires risk, and risk requires leadership

One of the biggest risks in growing business is to not take risks

Web view February 2020 The price of doing nothing One of the biggest risks in growing business is to not take risks. Companies can't move forward without innovating, and the essence of innovation is risk. It takes vision and leadership at the top level to celebrate the uncertainty, change, and growth that comes with taking risks. In the first of our four-part series on risk-taking, experts advise on creating a high-trust culture. How can you develop a structure that encourages the right kinds of risk? What tools can help you assess and grow comfortable with risk? How do you begin to understand where your unconscious biases lie? What do companies need to do to spark innovation? Read the series to find out and move forward. Innovation requires risk, and risk requires leadership Take the first step Encourage risk-taking with the right innovation structures Innovation and risk-taking require the right internal structures to succeed. Experts offer advice on how to balance risk and reward. [7-minute read] Read more Companies that want to innovate have options Risk is key to innovation, but it doesn't have to be based on gut instinct. Many tools can help you grow more comfortable with taking considered risks. [7-minute read] Read more Diversity in risk-taking If leaders don't pay close attention, biases based on race, gender, and other identity factors can adversely affect risk tolerance among both workers and those calling the shots. [4-minute read] Read more When we play, we feel safe, and when we feel safe, we're willing to take risks. Play is not devoid of risk, but the consequences of failure when we're playing are contained. They're temporary. Encouragement of play can decrease timidity and increase trust in teams. Lanny Vincent Principal, Vincent and Associates Risk-takers:   Taking calculated risks: Two IT leaders' approaches to emerging tech Disrupting cyberwar with open source intelligence How one company sparked reinvention by trying to put itself out of business   Sales Chat Email HPE Sales Call HPE Sales

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