Calculated Risk – an obvious concept

This article focuses on Admiral Chester W Nimitz’s concept of calculated risk. While many laud the concept as brilliant, others call it rather obvious. This article argues that the concept is indeed rather obvious – but that superb judgment and a high level of moral courage are required in applying it. Nimitz’s brilliance was more in successfully employing calculated risk than in inventing the term. Perhaps calculated risk is a bit like an iceberg – the concept itself is like the tip of an iceberg, while the greatest bulk is the challenge of understanding how to effectively use it.…