Bravery in a culture of risk aversion: Why the future favours the brave

One of the most rewarding aspects of consulting is helping clients view their problems from new perspectives and working with them to achieve exciting, inspiring solutions. Conversely, one of the most frustrating aspects is watching those ideas disappear into bureaucracy only to emerge months later as diluted versions of themselves.

Sadly, this happens more often than we care to admit. It’s not for lack of energy or enthusiasm from the team involved, but because this is when the hard work of “selling in” the work across the organisation begins. Innovative ideas often face resistance, manifesting in phrases such as “That’s not how we do things around here” or “Now’s not the right time for that”. Despite a business landscape demanding innovation and agility, many companies cling to cautious approaches that prioritise safety over boldness, and the courage to challenge the status quo is often stifled by risk aversion. But in a world changing faster than ever, playing it safe may be the riskiest strategy of all.

The risk-averse reality of corporate culture

Most corporate environments aren’t designed to foster bravery. Risk aversion seems ingrained in the DNA, especially in large organisations. This isn’t surprising — risk management has real value in helping companies protect their successes, make informed decisions and build shareholder confidence.

The problem arises when caution morphs into paralysis. The fear of making mistakes leads to increasingly conservative behaviours and a stubborn resistance to innovation or experimentation. In a culture where inertia takes hold, there is often an overreliance on data to make decisions, low tolerance for even calculated risks and a dominance of procedure and bureaucracy. Often, failure becomes feared or stigmatised.

Creativity and innovation struggle to thrive in such an environment.

The many faces of corporate bravery and how challenger thinking can help

The concept of “being bold and brave” in the corporate world is often misconstrued as impulsive. But true bravery is about leaders rethinking risk and acting decisively for transformative growth. This approach can be developed deliberately, and a “challenger” mindset is a great lens through which to do this.

Within these typically large, structured organisations, bravery can take on many faces: 

Bravery to think bigger

Incremental improvements have their place, but transformative growth needs bold vision. A challenger approach is about questioning conventional wisdom and finding new ways to compete. This means having the courage to set ambitious goals and pursue opportunities that may seem outlandish or scary at first. It’s not about blind leaps, but calculated moves with a clear purpose that guides brave decisions through uncertainty. Naspers’s 2001 investment in the then relatively obscure Tencent exemplifies this mindset. At the time, investing in a small, Chinese tech company was risky (The Wall Street Journal (2017): How a Small Bet on Tencent Made an African Firm One of the World’s Most Valuable) — it operated in an unfamiliar market with unproven potential. However, this bold move transformed Naspers into one of Africa’s most valuable companies with a valuation far beyond what would have been possible had it remained focused solely on its traditional print and pay-TV businesses. The brave choice wasn’t just rewarded — it was transformative.

Bravery to go against the group

Groupthink is the silent killer of innovation, manifesting not only within organisations but across industries. Avoiding it requires reframing how you and those around you perceive risk. A challenger approach encourages organisations to view risk not as something to be avoided, but as an opportunity for differentiation. MTN’s current brand strength across the continent stems from entering politically and economically volatile markets across Africa and the Middle East, which others have shied away from due to perceived risk. Its expansion into Nigeria, though fraught with challenges, presented unparalleled growth potential due to the country’s large population and low telecoms penetration at the time, ultimately cementing its position as a leading telecoms provider on the continent. While every decision carries both the risk of action and inaction, the latter often goes unexamined and can be far more dangerous. When advocating for a move that contradicts established practices or conventional solutions, it helps to acknowledge the risks while also addressing the cost of inaction.

Bravery to learn from mistakes and choose progress over perfection

The bravery to act without perfect conditions or complete information and the resilience to navigate setbacks are key traits of challenger brands. This involves creating a culture where mistakes are seen as learning opportunities rather than a cause for blame. This is critical in risk-averse cultures and requires leaders to model vulnerability and build psychological safety within their teams. People should feel safe when proposing unconventional ideas and have the opportunity to learn from setbacks rather than face punishment. As Ed Catmull, co-founder of Pixar, said: “In a fear-based, failure-averse culture, people will consciously or unconsciously avoid risk. They will seek instead to repeat something safe that’s been good enough in the past. Their work will be derivative, not innovative.” (Ed Catmull, Creativity, Inc.: Overcoming the Unseen Forces That Stand in the Way of True Inspiration, 2014)

Catmull pushed Pixar to break from industry conventions that favoured sequels and proven formulas, promoting original storytelling and a culture where failure was accepted as part of the creative process. Consequently, Pixar became known for bold, emotionally resonant films, not just commercial hits.

Bravery to leverage constraints as catalysts

Constraints get a bad rap, and unfairly so. Too often, they’re used as a crutch to avoid pursuing new ideas. In risk-averse environments, these constraints become justification for maintaining the status quo. Is there ever enough time, money, or resources? Is the operating context ever perfect, or does it ever promise smooth sailing? There will always be constraints, and challenger thinking shows that embracing them drives creativity and innovation. Andela’s concept of outsourcing talent from Africa to global tech markets was innovative and went against traditional models of talent acquisition, particularly given the constraints of a lack of widespread infrastructure for tech education in many African countries. Investing in young, talented people with little to no coding experience and training them to work for global tech companies was risky, but ultimately highlighted Africa as a hub for tech innovation and positioned Andela as an innovator that reshaped how businesses in this industry find and leverage talent (International Finance Corporation, 2022: Andela Case Study).

Bravery to collaborate and ask for help

If you’re in a corporate culture that leans towards risk aversion, remember that bravery doesn’t have to be a solo act. Find allies who share your vision. Transformative change rarely happens through solo heroics. Adam Morgan’s book The Pirate Inside highlights how smaller, often cross-functional teams within large organisations can act as incubators for change. By cultivating “pirate microclimates”, individuals are empowered to think differently and break the rules, but for the better. Unlike rebellion, this is a positive, internally driven disruption. As a leader, identify your “constructive pirates”; look for individuals who are naturally inclined to challenge the status quo and empower them to push against the norms within your corporate system. The FNB Innovators Programme is an excellent example of this. The programme crowdsources ideas internally and rewards employees for working together to create solutions that improve processes, service and products. In this way, FNB gives its people formal permission to think differently, question systems and propose radical ideas without fear of punishment. This is one of the reasons it has earned a reputation as one of the world’s most innovative banks. 

The future belongs to the brave

The life expectancy of large, established corporates is contracting with every decade (McKinsey & Co (2018): Activate Agility — The five avenues to success). This serves as a stark reminder that organisations can no longer safely rely on the status quo. Excessive caution provides a false sense of security. In today’s dynamic business environment, if you’re not taking risks, you’re not growing. Challenger thinking makes it clear that bravery is not optional for those seeking transformative success; it’s essential. This bravery is not about recklessness, it’s about being strategic, adaptable and open to new possibilities. As we look towards the future, it’s evident that organisations willing to embrace uncertainty and challenge conventions will be best positioned to thrive. Whether through disruptive innovation or daring investments, the future doesn’t just favour the brave, it belongs to them.

Dhatchani Naidoo is the MD at Delta Victor Bravo (representing eatbigfish in Africa)

The big take-out: In today’s dynamic business environment, if you’re not taking risks, you’re not growing.