Go to the following website and read the interview:
Premji states that companies must “..foster environments in which workers feel safe taking risks, even when they fail.” What do you think of this? Would an environment that allows for risk taking and possible failure be possible in your workplace?
ANSWER
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Write My Essay For MeProblem Solving and Failure
Risk-taking in an organization requires a great interest to commit significant organizational resources to investments that will market for opportunities with a high risk of failure. Premji refers to it as an organizations ability to make substantial and unreliable investments and having the ability to absorb possible letdowns from the investments. These risks occur in varied extents extending from simple to challenging. The ability of a company to strategize and manage risk enhances its competitive advantage as well as provide an environment that allows for risk-taking and possible failure. According to Maladzhi (2015), for an organization gain a competitive advantage, an inventive management with a high desire of taking premeditated risks is essential. The desire of any administration to take strategic risks creates …
When the organization leaders embrace risk-taking, they develop a culture that allows for a steady flow of concepts to take place in the company (McGing and Brown, 2014). The innovative ideas disseminate throughout the organization from the management level to the staff level and motivate employees to formulate problem-solving ideas. According to Neves and Eisenberger (2014), workforce risk-taking characterizes the preparedness to tolerate and endure uncertainties. These uncertainties include accepting mistakes and failures. It is through the errors and failures that enable employees to explore for more innovative ideas. These ideas help them tackle the current problems being experienced to increase the possibility of achieving their goals. Organizations are bound to experience operational ….
References
Hlupic, V. (2015). The 6 Box Leadership diagnostics: implementing management research into practice for more value creation. WINNING IDEAS., 20
Maladzhi, W. R. (2015, December). Impact of risk-taking leadership on organizational performance and sustainability in SMEs. In 2015 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM) (pp. 1752-1756). IEEE
McGing, S., & Brown, A. (2014). Risk Culture Leadership, Measurement & Management–A Comparison across Industries
Neves, P., & Eisenberger, R. (2014). Perceived organizational support and risk-taking. Journal of managerial psychology, 29(2), 187-205
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