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    Managers: What Is Risk?

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    hammadmajeed
    The document discusses a survey of managers' attitudes towards risk. 73% of managers believed risk was manageable if you have the right information, knowledge, and experience. When facing decision problems involving risk, managers reported that their approach was to (b) collect more information, (c) check different aspects of the problem, (d) actively work on the problem, and (e) delay the decision if needed. According to the managers, risk-prone individuals tend to not be afraid of making mistakes and those higher in the organization were more likely to take risks. The managers were split in their self-assessment of risk attitudes, with some risk-averse, some neutral, and some risk-taking.

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    Managers: What Is Risk?

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    hammadmajeed
    23 views2 pages
    The document discusses a survey of managers' attitudes towards risk. 73% of managers believed risk was manageable if you have the right information, knowledge, and experience. When facing decision problems involving risk, managers reported that their approach was to (b) collect more information, (c) check different aspects of the problem, (d) actively work on the problem, and (e) delay the decision if needed. According to the managers, risk-prone individuals tend to not be afraid of making mistakes and those higher in the organization were more likely to take risks. The managers were split in their self-assessment of risk attitudes, with some risk-averse, some neutral, and some risk-taking.

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    The document discusses a survey of managers' attitudes towards risk. 73% of managers believed risk was manageable if you have the right information, knowledge, and experience. When facing decision problems involving risk, managers reported that their approach was to (b) collect more information, (c) check different aspects of the problem, (d) actively work on the problem, and (e) delay the decision if needed. According to the managers, risk-prone individuals tend to not be afraid of making mistakes and those higher in the organization were more likely to take risks. The managers were split in their self-assessment of risk attitudes, with some risk-averse, some neutral, and some risk-taking.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    23 views2 pages

    Managers: What Is Risk?

    Uploaded by

    hammadmajeed
    The document discusses a survey of managers' attitudes towards risk. 73% of managers believed risk was manageable if you have the right information, knowledge, and experience. When facing decision problems involving risk, managers reported that their approach was to (b) collect more information, (c) check different aspects of the problem, (d) actively work on the problem, and (e) delay the decision if needed. According to the managers, risk-prone individuals tend to not be afraid of making mistakes and those higher in the organization were more likely to take risks. The managers were split in their self-assessment of risk attitudes, with some risk-averse, some neutral, and some risk-taking.

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    MANAGERS

    73% of the managers believed that risk was manageable and saw risk as controllable.

    WHAT IS RISK?
    A situation where the outcome is unknown to the decision-maker, i.e. he/she is not sure
    which outcome will occur and the ncertainty leads to erroneous choices.

    RISK:

    The pattern of how they try to tackle decision problems involving risk was fairly clear. In order
    these were (b) collect more information, (c) check different aspects of the problem, (d) actively
    work on the problem and in due time (e) delay the decision

    There opinion about RISK:

    They said that risk could be managed if you have correct information, sufficient knowledge
    about the problem, and if you are experienced in the field it concerns.

    Characteristics that were identified among risk-prone individuals:

    • their risk behavior has more to do with their personality, and less with their background and
    education,
    • people “who are risk-prone are not afraid of making mistakes”
    • people higher up in the organization were more risk-prone.

    What do the managers think of themselves – are they risk prone or risk averse? Two of
    them said that they do not like risk taking, four of them said they consider themselves neither one
    way nor the other, and finally the remaining six stated that they like risk taking.

    Managers use Computer?

    Managers did not use computer some of them use only excel for calculation. There are
    many software for these purposes while managers do not use them.

    Decisions:

    There are a lot of unwritten rules built into the culture that guide manager when making
    decisions.

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