While excessive risk-taking is problematic, certain situations necessitate taking risks:
1. Market Entry: Entering new markets often requires taking significant risks to establish a presence. 2. Innovation: Developing groundbreaking products or services involves inherent risks. 3. Turnaround Strategies: Organizations in crisis may need to take bold steps to achieve a turnaround. 4. Competitive Edge: Staying ahead of competitors might require calculated risks to innovate and adapt.