Tag Archives: risk averse

Podcast Episode 021: Strengths & Decision-Making

TheStrengthsRevolution_albumart_2-2How do we go about making decisions? The answer partly depends on the situations or circumstances we are in… ‘situational decision-making’ is an assessment of the situation followed by a quick mental simulation of the likely outcome of our chosen course of action. It is based in experience, responds to pressures on available time, and helps us manage ambiguous detail. It is a partly intuitively based approach to decision-making.

Alternatively, ‘analytical decision-making’ is a more structured approach applied to research, clinical and other work situations where masses of abstract data need processing, or a range of different people come together to make a decision.

Ultimately it is not so much about finding the right or wrong decision, but more about our ‘confidence’ in the decisions we have made. Confidence will be underpinned by a focus on the strengths that can be identified and productively applied as a crucial component in our approach to making decisions. An absence of identified strengths can still offer confidence, but in these circumstances it will be confidence in making the more risk averse decisions.

For the full content of this episode click on the links to iTunes and Sound Cloud (or go to Stitcher Radio):

https://itunes.apple.com/gb/podcast/strengths-revolution-steve/id867043694

https://itunes.apple.com/gb/podcast/021-strengths-decision-making/id867043694?i=318067222&mt=2

“When possible make the decisions now, even if action is in the future. A reviewed decision usually is better than one reached at the last moment.” [William B Given].

 

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Podcast Episode 016: Risk Taking v Risk Aversion

TheStrengthsRevolution_albumart_2-2Are we risk takers or are we generally more conservative in our risk decision making, more risk averse? There is no blanket answer to this question for any of us, as there are different situations and circumstances that influence us in different ways.

Health and Social Care service practitioners may become more risk averse in particular situations, and some will be more risk averse depending on their own experiences. When is it ok to be risk averse? When it is the clearly reasoned decision based on careful consideration of the information available to us.

Risk decisions will be part of everyday experiences within health and social care services across all sectors e.g. mental health, learning disability or older persons services. The same principles apply to all of us in our personal lives, when we are confronted with situations that require a difficult decision.

For the full content of this episode click on the links to iTunes and Sound Cloud (or go to Stitcher Radio):

https://itunes.apple.com/gb/podcast/strengths-revolution-steve/id867043694

https://itunes.apple.com/gb/podcast/016-risk-taking-v-risk-aversion/id867043694?i=316511320&mt=2

“There is a short window at the beginning of one’s professional life when it is comparatively easy to take big risks. Make the most of that time, before circumstances make you risk averse.” [Joshua Foer].