The fields of wealth management and risk management have both been duly affected by the emergence of platforms such as Tolerisk, Riskalyze and Fina Metrica. Companies are now conducting intense analysis on how people react to risks. One such method is called personality profiling, based around the individual traits and preferences. This helps improve decision making and fosters collaboration. Another process is psychological consultancy, which is being used a lot in talent management. It measures several points in a person’s trajectory including social, ethical, financial health and career considerations. There is also the Cambridge Code, which is about assessing personalities more broadly. Risk- related behavior tools also help team leaders in conferring to themselves a sense of control.

Source:https://www.strategy-business.com/blog/The-new-behavioral-science-of-risk-taking-in-business?gko=46015

Uploaded Date:18 October 2019