How Far Do You Push Your Limits? Success cannot be achieved without some risk taking. There is always a possibility that things do not work out as expected. In most cases we do not know until we try. Failing attempts should be seen as a learning curve, improving our chances to hit the target in the next round. Some losses have to be taken into account in the journey to success. The more we want to achieve in a specific timeframe the higher the risk usually, especially when the experience is new as the case for a quantum leap. Risk is a relative issue: The more we learn the less the risk 1
RISK IMPACT MATRIX Minor Moderate Major Very Likely Medium High Extreme Risk Risk Risk 3LIKELIHOOD 2 4 High Zone of Low Medium Likely Risk Acceptable Risk Risk Risk 3 1 2 Low Low Medium Unlikely Risk Risk Risk 1 1 2 Comfort Zone 2
Dr. Stephen Sweid is a business consultant, researcher and trainer with over 20 years consulting experience on the international scene: Europe, USA, Middle Eas The Risk Matrix The “Low Risk” squares # (1) imply the comfort zone, i.e. little effort and little achievement. Better stay away from this zone! The “High Risk” squares # (3) and the “Extreme Risk” square # (4) can cause a lot of damage and loss, despite the great prospects, hence this area ought to be avoided until there is more experience and confidence. The “Medium Risk” Squares # (2) represent the acceptable zone for achievement, although we should strive to push our limits constantly to higher levels. 3
About the Author Dr. Stephen Sweid is a business consultant, researcher and trainer with over 20 years consulting experience on the international scene: Europe, USA, Middle East and Far East. He has involved as expert in technical assistance projects of international organizations, such as UNDP, UNIDO, World Bank, European Commission etc, as well as in consulting projects commissioned by multinationals. He is member of a number of international professional research and consulting societies. He is currently active in the UK, UAE, and other locations. His consultancy focuses on strategic issues, business development, Innovation and Marketing. Email: firstname.lastname@example.org web: http://www.cinnosys.com 4
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