Large-Risk Bet
Objective
This objective is like running a test. Despite some familiarity, almost everything we do is new to us.
Bets and Objectives: Safe Bet • Small-Risk Bet • Medium-Risk Bet • Large-Risk Bet • Crazy Bet
Purpose
With a Large-Risk Bet, we are predominantly in uncharted territory. It's akin to an experimental phase, where our knowledge offers only a sliver of guidance. The bulk of our actions comprise first-time endeavours. It's risky, with higher chances of unforeseen challenges, but the potential learnings and rewards make the gamble tempting.
Notes
“Large risk” is anything with a chance of succeeding between 10% to 40%.
Rules / Constraints
We have not (yet) defined rules or constraints.
Featured
“Management by objective works—if you know the objectives. Ninety percent of the time, you don't.”
(Source: Peter Drucker)
“Eliminate numerical quotas, including Management by Objectives.”
(Source: W. Edwards Deming)