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The world is always changing, but lately the changes have felt faster and more extreme. In times like these, your ability to manage risk and uncertainty can give you a huge competitive advantage.

Back when I was applying for admission to Harvard Business School, one of the essays I had to complete was “when did you confront an ethical dilemma and how did you handle it?”

Businesses that are willing to take on more risk and operate in uncertain environments can win a competitive advantage over those that are not.

You’ve seen it, but chances are, you couldn’t stop it from happening. At a team meeting, a problem is raised, and the boss—trying to be helpful, or trying to be the hero, or simply because he [...]