High fear of failure inhibits taking high management risks. Skill matters more than chance in taking large or small risks. Managers who are more experienced take fewer risks than managers who are less experienced. Managers with more authority take more risks than managers with less authority. Managers in larger firms take more risks than managers in smaller firms.
Most managers are risk averse.
Gene Calvert, Highwire Management, Jossey-Bass, 1993. Managers who are more successful take more risks than managers who are less successful. Over 30 years of research confirm greater risk taking among managers who are more successful. CEO's and COO's, for example, have taken more risks than those not reaching this pinnacle and see themselves as greater risk-takers. They take more risks, and not all their risks turn out well.