Vineet Nayar, the radical, high performing CEO of HCL Technologies, in his HBR blog has written about ‘the power of Ristakes’
http://blogs.hbr.org/hbr/nayar/2010/08/the-power-of-ristakes.html
With Risk Take, one tries to challenge the conventional wisdom with a new 'unknown' wisdom which only the person/team who takes the risk is convinced about. Over 200 years conventional wisdom say ‘don’t over inflate economic with higher domestic spends, while China injects more than 50% in to building the country – if China prove right, 200 years of basic economic laws may go wrong!
Pythagoras did a Ristakes challenging the conventional wisdom at his time that the ‘world is flat’ – clearly short term loss proved very low compared to long term gain for Pythagoras – he is still remembered for his contribution to the world and will be continued in coming centuries. ‘The power of Ristakes’ have such an enormous strength and multiplier effect – as Vineet pointed out – as long as they are supported by conviction, persistence, and discipline, and based on knowledge.
Cheers
Karthik Duraisamy
