- discussion of risk (and responsibilities for them) before problems arise, rather than afterwards
- emphasising collective responsibility and shared business goals
- aiming for insights and understanding about decisions, arrived at through a process of co-operation and collaboration
- acceptance of a joint commitment for taking specific actions, with no-one putting their 'head on the block' (regardless of any individual responsibilities that are assigned)
- using tools (such as the decision tree) to generate and confirm a joint commitment to decisions
- taking risks in an informed way, with full knowledge of the potential consequences
- when problems arise from particualr decisions, remembering and re-stating the reasoning that went into those decisions
- aiming to draw collective learning rather than individual advantage from mistakes, problems and negative situations
- using passive language to defuse tensions and sidestep the assignation of blame (e.g. 'there is a problem' rather than 'so-and-so has made a mistake')
- understanding that creativity, innovation and new directions imply some freedom to make mistakes
- thinking of ways to reward people on the basis of how well they take decisions, not the results of those decisions.
Keep INVESTING Simple and Safe (KISS) ****Investment Philosophy, Strategy and various Valuation Methods**** The same forces that bring risk into investing in the stock market also make possible the large gains many investors enjoy. It’s true that the fluctuations in the market make for losses as well as gains but if you have a proven strategy and stick with it over the long term you will be a winner!****Warren Buffett: Rule No. 1 - Never lose money. Rule No. 2 - Never forget Rule No. 1.
Tuesday 24 November 2009
When things go wrong: Some themes of a no-blame culture
Some themes of a no-blame culture include:
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