What’s Your Risk Type?
Let’s say that you’re not a broke collage graduate student (sigh…), and that you happen to have $15,000 just hanging around, burning a hole in your pocket. So yes, very hypothetical here!
Are you risk adverse, or risk seeking? What do you think? To answer this question, please download and complete the attached Risk Tolerance quiz, created by a professor from BYU. When finished, grade your results per the attachment’s instructions and then also answer the following questions:
1. Based on the overall results, are you a risk seeker, risk neutral, or risk adverse? Why?
2. Discuss if you agree or disagree with the survey’s results and overall category in which you were placed. Do you agree with this finding? Why, or why not?
3. If you were to respond to this survey again, only this time without the $15,000 having been automatically given to you to invest, would your response be any different, now being required to use your hard-earned money as the initial principle investment?
4. How does this exercise apply to your future role as a healthcare administrator? In what way can you use this exercise to influence (or not influence) your decisions as an organizational leader?
5. Finally, apply this lesson on risk to any healthcare organization’s action in the news. For instance, have any healthcare organizations (noticed in your workplace, on TV, located on the internet) demonstrated risk aversion, risk seeking, or risk neutral behaviors? Was this a good idea (in your opinion) considering the situation?
