The value of experience and expertise in evaluating potential risks cannot be overstated. As has been previously addressed, the great leaders endured a “crucible period” of disappointment, frustration, failure and adversity. These shaped their experiences and expertise and prepared them to adequately assess risks that were placed before them.
A case in point of this was J.P. Morgan (J.P. Morgan Bank). “There can be no doubt that Morgan was a dreamer, occupying his time thinking of grand schemes and larger than life business deals. But, he never lost himself in the clouds. He knew that in order to achieve success on the scale that he dreamed of, he needed to take practical and concrete steps in that direction. Thus, through education and taking on junior positions at investment firms and banking houses, Morgan took the time he needed to gain the experience that would enable him to realize his dreams.”
View original post 441 more words