forbes.com
Valuing Effort Over Outcomes: Fostering Innovation Through Risk-Taking
Carla Harris, a senior advisor at Morgan Stanley, advocates for valuing effort over perfect outcomes to encourage risk-taking and innovation, contrasting with many organizations' preference for playing it safe and only celebrating successes.
- What are the underlying psychological factors driving the hesitation to take risks, and how do they negatively impact organizational agility and innovation?
- The article highlights the detrimental impact of fearing failure on risk-taking, particularly among women and men. It connects this fear to the prevalent belief that only success matters, neglecting the learning opportunities in mistakes. This directly inhibits innovation and agility in organizations.
- How can organizations foster a culture of risk-taking and innovation by shifting their focus from solely celebrating wins to valuing effort and learning from failures?
- Many organizations prioritize safety over innovation, hindering risk-taking and growth. Carla Harris, a Morgan Stanley advisor, advocates for valuing effort and attempts, even if unsuccessful, to foster a culture of learning and agility. This contrasts with the common tendency to avoid failure and only celebrate perfect outcomes.
- What are the long-term consequences for organizations that continue to prioritize playing it safe over embracing risk and experimentation, and how can leaders mitigate these risks?
- Organizations must shift from solely rewarding success to valuing effort and experimentation to cultivate innovation. Leaders need to model 'failing well,' openly discussing mistakes, and affirming team members' potential to encourage risk-taking. This approach is crucial for building psychologically safe environments.
Cognitive Concepts
Framing Bias
The narrative frames the issue as a challenge primarily faced by women, although it mentions men. The repeated emphasis on women's experiences and the use of Carla Harris (a woman) as a central example could unintentionally reinforce a gendered understanding of the problem, even though the underlying issue of risk aversion is universal.
Language Bias
The language used is generally neutral and avoids overtly loaded terms. However, phrases like "playing it safe" and "taking a swing" have slightly negative and positive connotations, respectively, subtly shaping the reader's perception of the two approaches. The article could benefit from more neutral terms like "risk-averse strategies" and "calculated risks.
Bias by Omission
The article focuses heavily on the experiences and perspectives of women in leadership, potentially overlooking the experiences of men facing similar challenges in risk-taking and fear of failure. While the article mentions men, the primary focus and examples are geared toward women. This omission could lead to an incomplete understanding of the issue's broader scope.
False Dichotomy
The article presents a somewhat false dichotomy between "playing it safe" and "taking risks." While it acknowledges the importance of calculated risks, it doesn't fully address the nuances of risk assessment and the potential for negative consequences from poorly considered actions. The focus is heavily on celebrating effort over perfect outcomes, which might neglect the importance of careful planning and execution.
Gender Bias
The article uses Carla Harris, a successful woman, as a central example, which could be interpreted as implicitly suggesting that women are more affected by fear of failure than men. While the article mentions men's hesitation to take risks, it provides significantly fewer examples and less detailed analysis of men's experiences. The focus on women's experiences could unintentionally reinforce gender stereotypes.
Sustainable Development Goals
The article emphasizes the importance of embracing failure as a learning opportunity, aligning with the goal of promoting quality education that fosters critical thinking, innovation, and risk-taking. By celebrating effort and learning from mistakes, organizations can create environments where individuals are more likely to experiment and develop valuable skills. This is crucial for equipping future leaders and innovators with the resilience and adaptability needed to thrive in a dynamic world.