risk-taking

Vocabulary Word

Definition

'Risk-taking' is the act of doing something that might have a negative outcome, but you still go ahead with it. Think of it as taking a chance that might lead to a big reward or a big loss.

Examples in Different Contexts

In entrepreneurship, 'risk-taking' refers to the willingness to pursue opportunities despite the potential for failure. An entrepreneur might share, 'Embracing risk-taking has been crucial for our startup's innovation and growth, even though not all ventures were successful.'

Practice Scenarios

Tech

Scenario:

Given the rapid advancements in AI technology, I think there is a massive opportunity for us to be innovative. Any bold strategy suggestions?

Response:

Implementing the risk-taking strategy of integrating AI with cloud computing can give us an edge in the market.

Creative

Scenario:

Our artistic direction for the upcoming collection lacks that wow-factor. How can we really disrupt expectations?

Response:

I say we go for it. This collection needs risk-taking and something unexpected to create an impact.