Show in practice what healthy courage looks like
According to the Harvard Business Review, as regards behaviour, managers should always lead by example. Therefore, you yourself have to be a model for how someone can act courageously while staying within the limits of acceptable risk. Involve subordinates in your decision-making processes and introduce them to this issue in practice.
Help subordinates assess risks and determine the limits of acceptable risk
Create an environment in which risk and courageous decisions are discussed transparently. Be a partner to subordinates and encourage them to consult you before making an important decision so that you can review the pros and cons of various possible solutions together. Over time, employees can then become more independent and make courageous decisions partly on their own.
Take responsibility for joint decisions
When you discuss a particular issue with a subordinate and together you reach an appropriate solution, take responsibility for the consequences of that decision yourself. This will reassure the subordinate that they need not fear potential negative outcomes.
Later evaluate each courageous decision
Developing a sense for finding acceptable risk requires time and the analysis of one’s own decisions. Once you have made a courageous decision together with a subordinate, revisit it after some time and assess whether you evaluated the situation correctly and what lessons you can draw from it for the future.
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