Entry 9 / 20500297

Why Risk Is Important?

Entrepreneurs, like ice climbers, are often said to risk their necks.

But there are ways to cut danger to sane levels - and some very good reasons to try.

To begin with) I'm NOT a risk-taker. I'm NOT a type of entreplorer who is willing to take risks. I'd like to live a 'safe', 'sustainable', and 'affordable' life. I don't want to experience any adventure in my life because it would cause risks! Risks equates to danger and I'm afraid of it. However, as a business student, I learned that avoiding risks is not the right way to pursue. The fact is, those who face risks and look for the way to make it as a chance of development usually become successful in their lives. For me, risk was a threat that discourages me and makes me feel that I am a failure, but today as I read this article, I realized that such a risk rather provides me an opportunity to make my life more fantastic! :)

Summary) Taking risks is not a gambling. We are able to reduce the risks to an acceptable level as we do any business jobs and work and in order to reduce that risk, we all need to be trained. The author compares taking rish with ice climbing. Ice climbing requires you to be trained, to have appropriate tools, to have fitness, and finally to trust partners. When these for elements are ready, you can enjoy recreational ice climbing because with these considerations, your risks are calculated. It goes same with the entrepreneurs. Training means what kind of skills you can use to engage a problem you have. Tools are those potentially useful processes, technologies, or other instruments to protect your company. Fitness is like how much you are prepared to take risks. Partners are those who share you vision and dreams. Getting the best partner is critial, the author says. "The most dangerous way of all to play it is so-called safe. Safe leads to atrophy and certain death - of spirit, culture, and entreprise.' (quoted) Risk is not only NOT to be avoided, it is to be embraced - for survivle as the author says, because it brings creativity.

My thoughts & feelings) I pretty enjoy my so-called boring life. I don't think it's boring, but it is rather safe and time-followed schedule. I feel calm and even peaceful when I do things as I plan. As I mentioned before, taking risk is still not my type. As possible as I can, I want to avoid any risk coming into my life since it destroys my peaceful life. Last semester I took 'entrepreneurship' class and it was pretty much about the personalities of entrepreneurs. What the professor and special guests mostly emphasized was entrepreneurs are willing to take risk and they try to find the ways to apporoah to the problems and transform them into another chance to develop themselves and enterprises. It means that true entrepreneurs can accept their problems and even failures and can learn from them. The reason why I am afraid of risks is because I am not fully ready to face my potential failure. I can't accept the fact that I have been doing something wrong and that I need to change the way I used to be. However, as the author says, risks are not only NOT to be avoided, but it is to be embraced. The harder I try to avoid things I hate, the longer they follow me. But once I embrace them, they no longer bother me or give me a feeling of failure, but would rather make me think differently. That would be the first step I can take to create 'innovation.'

Annotation* Bill Buxton, Why Risk is Important, Journal. March 12, 2008 / URL: http://www.businessweek.com/innovate/content/mar2008/id20080312_205292.htm?chan=innovation_innovation+%2B+design_innovation+strategy

Entry 9 by 20500297