Strategy
Glossary
Calculated risks
When faced with a risky course of action, the degree to which an individual or organization has been able to assess the rewards and probabilities of taking the risk versus taking safer courses of action. By this token, the calculated risk will be a risky course of action, but an appropriate decision nonetheless.Strategy involves a great deal of risk because the outcome is not predetermined. Therefore, successful planning and implementation of strategy is highly dependent on key decision-makers. Oxford Risk Rating profiles enable you to identify people who are capable of taking calculated risks. People who are good strategic risk-takers create competitive advantages and produce positive outcomes.
Oxford Risk Rating also acts as a risk management tool. The assessment reveals personal risk propensities in strategic decision-making that could result in loss. For instance, people who have a tendency to want to take a lot of risks yet exhibit poor risk taking abilities can cause irreparable damage to your organisation. Identifying these characteristics can help you avert negative outcomes – or even catastrophe.
Click the link below for an illustration of how Oxford Risk Rating can help you.