Achieving Success by Embracing Risk with Adm. Scott Swift | Ep. 34 | The Science of Leadership

In this episode of  @TheScienceofLeadership , host Tom Collins is joined by U.S. Navy Admiral (ret.) Scott Swift, who shares his expertise on the pivotal role of calculated risk in leadership, drawing from his vast naval experience, including serving as the Commander of the U.S. Pacific Fleet.

With a career handling high-stakes situations, Admiral Swift discusses the significance of embracing uncertainty as a resource, which is crucial for innovation and progress within any organization. This episode dives into the dynamics of risk as it relates to organizational learning and success, providing listeners with practical insights on how to reevaluate their approach to risk in leadership.

Admiral Swift elucidates that successful organizations often conceive risk as an integral part of their culture rather than a liability, a mindset particularly evident in startups. Throughout the conversation, he shares valuable lessons from his illustrious career, illustrating how calculated risk-taking can yield significant benefits. Tom and Admiral Swift also discuss the often-overlooked correlation between risk and learning, underscoring the necessity for leaders to foster a culture where risk facilitates growth and innovation. The episode offers a compelling narrative on transforming the apprehension surrounding risk into a strategic advantage, a shift critical in today’s competitive landscapes.

 

Key Takeaways:

🔸Successful organizations view risk as a resource rather than a liability, embracing it as essential to achieving their goals.

🔸Calculated risks are crucial for fostering high-velocity learning and sparking innovation within organizations.

🔸 Leaders must balance risk-taking with ensuring psychological safety to unlock their team’s full potential.

🔸It is vital for leaders to reframe failure as a part of the learning process and not as a setback.

🔸Understanding the context and relevance of risk is key for leaders aiming to drive organizational growth and stay competitive.

 

References

De Dreu, C. K., & West, M. A. (2001). "Minority dissent and team innovation." Journal of Applied Psychology, 86(6), 1191-1201.

Edmondson, A. (1999). Psychological Safety and Learning Behavior in Work Teams. Administrative Science Quarterly, 44(2), 350–383.

Edmondson, A. C. (2018). The Fearless Organization: Creating Psychological Safety in the Workplace for Learning, Innovation, and Growth. John Wiley & Sons.

Tversky, A., & Kahneman, D. (1981). The framing of decisions and the psychology of choice. Science, 211, 453–458.