One trait common to all highly effective leaders is that they are not afraid to take risks.

One trait common to all highly effective leaders is that they are not afraid to take risks. They understand that in order to move forward and compete effectively, they have to go into adventures, explore, and test the waters in order to search for opportunities. Effective leaders also understand that they cannot stay stagnant, and the idea of doing things the same way over time will not be sufficient. In fact, such practices will negatively impact the organization (Kouzes & Posner, 2012). Through innovation and creativity, leaders have to be ready for challenges that lie ahead. In searching for opportunities to bring excellence to their organizations, effective leaders engage in four essential behaviors: seizing the initiative at hand, making their challenges meaningful, creating and innovating every step of the way, and valuing the importance of looking outward for fresh ideas (Kouzes & Posner, 2012). Finally, in searching for opportunities and taking risks, effective leaders ensure they learn from their mistakes as they move forward to avoid repeating mistakes (Kouzes & Posner, 2012). This module will cover the third of the five practices: Challenge the Process. Furthermore, you will engage in discussions surrounding the idea of taking calculated risks. You will also engage in reflective practices by responding to an article of interest from the Knowledge@Wharton resource. Finally, you will complete the third outline of your leadership development action plan based on the knowledge acquired from the reading and activities in the module. The Third Practice: Challenge the Process The concept of challenging the process encompasses the idea that leaders have to think outside the box and reject the status quo in order to be exemplary and support the success of their organization (Kouzes & Posner, 2012). They have to ask questions, and rather than responding with prescribed answers, they should use the questions as a starting point for innovation and the realization of the shared vision. The practice consists of the following components:  Searching for opportunities in order to get extraordinary things accomplished  Taking risks and experimenting with new ideas in order to remain relevant 2 OL 328 Module Four  Understanding that success and advancement are generated through innovation and creativity

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