Courage and Risk

When I saw that the latest issue of the Harvard Business Review had an article on courage (article available online to subscribers; can be purchased), I couldn't wait to read it.  I had expectations of seeing comparisons between Homer's Iliad and modern organizations.

What I a welcome surprise to see that instead, courage is treated more concretely from the standpoint of personal and organizational risk.  Kathleen Reardon in Courage as a Skill provides a six step process to learn how to be courageous in the work place. 

Her research showed her something interesting.

In business, courageous action is really a special kind of calculated risk taking.  People who become good leaders have a greater than average willingness to make bold moves, but they strengthen their chances of success - and avoid career suicide - through careful deliberation and preparation.  Business courage is not so much a visionary leader's inborn characteristic as a skill acquired through decision-making processes that improve with practice. in other words, most great business leaders teach themselves to make high-risk decisions.  They learn to do this well over a period of time, often decades.

Here are the six steps.

1.  Setting primary and secondary goals.
2.  Determine the importance of achieving them.
3.  Tipping the power balance in your favor.
4.  Weighing risks against benefits.
5.  Selecting the proper time for action.
6.  Developing contingency plans.

I have always thought of courage as the honorable, virtuous thing to do.  Now I see it as a growth or development strategy. 

Comments

[Ellen Weber]

Thanks for the inspiration to look again at courage Tom! Would you agree that courage tends to involve risk in most cases? Great post - a real keeper!