Vice chairman and CEO of HCL Technologies Ltd, Vineet Nayar coins a great term for break downs that maverick path breakers face – ‘Risktakes’. A nice meld of ‘risk taking’ and ‘mistaking’.
He writes about it in the HBR Blog Network piece “The Power of Risktakes”.
- “A mistake is as an error in action or calculation caused by poor reasoning, carelessness, or insufficient knowledge. Risk is the exposure to the chance of injury or loss, the chance that the actual return might be different than the one expected. Thus, a risktake is an error — but not one caused by carelessness or insufficient knowledge. Its possibility has been foreseen, calculated, and accepted. A simple test will help you differentiate a risktake from a mistake. Ask yourself: Did I account for the possibility of failure before it happened — or did the mistake catch me by surprise?”
A follow up to his piece “The Miracle of Making Mistakes” which included a perfect quote from Mahatma Gandhi: "Freedom isn’t worth having if it doesn’t include the freedom to make mistakes."