Risk-Taking | Custom PHD Thesis

Risk-Taking

Taking greater risks leads to larger personal, professional and financial rewards. Discuss the arguments for and against this statement and give your opinion.
There are all kinds of risk takers in the world today: those who enjoy extreme sports like parachuting out of planes and rock climbing in sub-zero, snowy conditions. The former is an example of taking risks when it comes to extreme heights, while the latter is risky because of the extreme weather. There are those who like to take financial risks by playing the stock market with large sums of money. Then there are those who avoid risks at all costs, preferring to play it safe and not put themselves into a position in which bad things might happen to them. They avoid unfamiliar settings, and make sure they arrive hours before their flight departs. This essay will examine some of the pros and cons of risk-taking, focusing on three areas in particular: personal, professional and financial risk.

Some argue that taking risks leads to greater rewards. One area in which this is true is in the personal risks one might take in their day-to-day life. For one thing, consider the simple act of wearing—or not wearing—a seat-belt. For instance, according to the Centers for Disease Control and Prevention (CDC), only 11% of the US population wore seatbelts in 1981, and although this figure rose to 85% by 2010, it is currently estimated that still 1 in 7 US citizens are not in the habit of wearing a seatbelt when they are in the car. Reasons for this are simple and numerous. To some it is an inconvenience. To others it is a matter of style; perhaps they don’t want to mess up their hair, for instance. For still others they just don’t think about how important it is, not considering the risk they are putting themselves in each day. Another personal risk one might take is arriving somewhere with only minutes to spare. Take for example travelling by plane. While it is recommended to arrive at least 3 hours ahead of time for international flights, you will often see people dashing at the last minute to catch their flight. They figure the time they save by not arriving early is more important than the risk of potentially missing their flight. A final personal risk would be ignoring or breaking rules simply because one felt they were unnecessary or unimportant. This type of thinking in which one places themselves above the rules, figuring that while the rules apply to others, they are exempt, that is to say, excused from these rules for some reason. A prime example of this in Kuwait is driving in the emergency lane. While this lane is intended only for emergency use such as when ambulances or police need to get to an accident quickly, some feel that the time they save by not waiting in traffic lines is worth the danger in which they place themselves—and others—on the road. A second type of risk that people take is in the area of work or professional behavior. Firstly, there is not wearing personal protective equipment (PPE) such as eye-goggles and steel-reinforced boots when operating heavy machinery. Some do this because the PPE is uncomfortable to wear, or makes it harder to operate the machinery; others might not wear it because they are lazy, and feel the use of PPE is unnecessary. They feel the risk is worth it as they know their job and have extensive experience in operating the machinery. Another type of a work-place risk is not reading instructions before doing a job. For example, this could be because the person wishes to figure it out themselves, independent of the set of instructions. Furthermore, someone might risk arriving late for work as they wanted to sleep in just a little longer. A final way in which risks are often taken are in the area of finance. One common risk comes in the form of any of the numerous get-rich-quick schemes including

things like property investments and internet business opportunities. People mistakenly see this as an easy way of making fast money with little effort. Also, paying taxes is a risk millions of people are willing to take if it means saving a few pennies. Lastly, not getting insurance—whether it is life, health, or property insurance—is an increasing form of financial risk-taking these days as people are trying to cut down the costs of daily living.

Unfortunately, when taking risks there is always the chance of losing out, and sometimes losing big. This mean ending in harm, injury, financial ruin, or even—in extreme cases—in death. Let’s take the case of seat-belt wearing. Everyone knows that wearing a seat-belt can save your life. However, did you know that again, according to CDC statistics, people not wearing a seat belt are 30 times more likely to be ejected from a vehicle during a crash. From these, more than 3 out of 4 people who are ejected during a fatal crash die from their injuries. That hardly seems a worthwhile risk to take. Then there is the issue of arriving just in time to catch a flight. The risk of arriving too late, missing the flight, or even having your luggage not make it seem to be not worth it. Finally, when it comes to personal risks, while it might be fun to break rules you don’t agree with, you could be caught, fined heavily or even end up in jail for such behavior. When looking at professional risks, putting yourself in danger by not wearing PPE simply for the sake of comfort seems outlandish, or in other words, a little strange or odd. This is especially true when considering we are talking about the potential loss of a limb or even your life. Not only this, but it could be not just your life that is being put in danger, or to put it another way, in jeopardy, but the life of your co-workers. When it comes to the issue of reading instructions before attempting a task like assembling a cabinet or bookshelf, you might find that not only do you end up wasting a lot of time trying to figure out what you are supposed to do, but you might even end up breaking what it is you are trying to fix or assemble. This could lead to additional expenses being incurred: having to pay for the replacing broken parts, or even pay overtime wages to someone to fix your mistake. The last workplace risk is arriving late for work. While this may seem like a very small issue of little to no consequence, consider the loss of production in the long-term, as well as the negative effects on your reputation with both your colleagues and your boss. Finally, when it comes to financial risks, it is good to keep in mind that while get-rich-quick schemes may seem like the answer to all your financial worries, more often than not is ends badly, losing more than you started with. In the same way, while you may save a few pennies by not paying your taxes, when the Internal Revenue Services (IRS) finally do catch up with you, you may face having to pay thousands—or even millions—in back taxes to the government. Moreover, while you may cut a few corners by not paying insurance, what happens when the unexpected occurs, and your house, for instance, is destroyed in a flash flood, or you are seriously injured in an accident and don’t have insurance to cover the ensuing, or resulting extra costs. Then you will wish you hadn’t gambled and taken such a risk with your finances.

All in all, there will always be risk-takers, just as there will always be those who are averse to risks of any kind. Some feel that it is worth it to take risks as this can lead to more freedom and enjoyment, fewer restrictions and most importantly financial rewards. Conversely, others argue that taking risks is more trouble than it is worth, as it can lead to ruin and despair. To my mind, you need to find a balance between these two extremes, knowing when and how to take calculated risks, and never extending yourself beyond what you are able to handle. By this, don’t gamble more than you can afford to lose—whether this in with your money, with your reputation, or even with your relationships. Keep in mind, life itself is one big risk, and it is up to you to decide how you face this risk, and live your life to the fullest.
WRITING FOCUS:
Look over the sample for/against essay “Risk-Taking”, and answer the questions below regarding the structure and language of the essay.

Paragraph structure: Introduction

1. True or False: The introduction presents only the author’s side of the argument.

2. What information does the thesis statement provide? …………………………………………………………..

3. What are the 3 focus areas mentioned?
a) ………………………………… b) ………………………………… c) …………………………………
Paragraph structure: Main Body

1. How does paragraph 2 start? (What kind of information is provided? Are there any examples included in it, or is it a general statement?)
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2. In paragraph 2, how are each of the 3 focus areas introduced?

a) Focus area 1: ………………………………………………………………………………………………

b) Focus area 2: ………………………………………………………………………………………………

c) Focus area 3: ………………………………………………………………………………………………
3. Find 10 different examples of words/phrases that are used to list general points—or in other words, to introduce the main arguments.

a) ………………………………………………………………………………………………
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4. Find 10 different examples of words/phrases that are used to show examples—or in other words, to provide additional information.

Paragraph structure: Conclusion

5. How does the writer restate the two arguments? (explain in your own words—don’t just copy what is written)
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6. What phrase is used to introduce the summary statement? ……………………………………………

Can you think of alternative phrases that could be used?
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7. What phrase is used to introduce the author’s opinion? …………………………………………………

What alternative phrases that could be used?
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Reading Focus:
Read the text “Risk-Taking”, and answer the following questions based on the text.

Part 1: Reading for Main Idea

1. What is the main idea of paragraph 1?
a) The world is full of people who want to take risks.
b) Risk-takers have more fun than those who are averse to risk.
c) Personal, professional and financial risks have both positive and negative results.
d) Risk-taking like jumping out of an airplane is more beneficial than harmful.
2. What is the main idea of paragraph 2?

Paragraph
2 Who or What? Key / Repeated ideas?

Now restate the main idea (in 20 words or less):
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3. What is the main idea of paragraph 3?

Paragraph
3 Who or What? Key / Repeated ideas?

4. What is the main idea of paragraph 4?

Paragraph
4 Who or What? Key / Repeated ideas?

Part 2: Reading for Specific Details
Scan through the text again and answer the following questions:

Do NOT answer from your personal knowledge, but from what you read in the text.

Do NOT copy directly from the text (unless you are stating evidence for your answer from the text in the TRUE/FALSE question).

1. Name two examples of extreme sports mentioned in the essay.
a) ………………………………………… b) …………………………………………
2. Name two things that people who do not like taking risks might do.
a) ………………………………………… b) …………………………………………
3. What does CDC stand for? …………………………………………………………………………

4. Name two reasons why some people don’t wear seat-belts.
a) ………………………………………… b) …………………………………………
5. According to the text, why do some people break rules?
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6. What example is given of how people in Kuwait commonly break rules?
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7. Name two examples of PPE mentioned in the text.
a) ………………………………………… b) …………………………………………

8. Which of the following reasons for not wearing PPE is NOT mentioned in the text.
a) Because PPE can be uncomfortable
b) Because PPE can be convenient when operating heavy machinery.
c) Because they feel the PPE takes too much effort to put on.
d) Because they have extensive experience operating heavy machinery, so feel it is unnecessary.

True/False Questions
Decide if the following statements are true or false. Circle the correct answer (True/False). Identify the relevant information in the text to support this.

9. According to the text, you get greater rewards when you are willing to take risks.
True / False

What evidence in the text supports this? (Give specific information taken from the text)
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10. According to the text, the number of people who wore a seatbelt in 2010 rose by more than 70% since the early 80s.
True / False

a) Reading between the Lines
Based on what you have read, answer the following questions. Make sure you provide evidence from the text itself to support your answers.
1. What can you infer is the author’s attitude towards get-rich-quick schemes?
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What evidence in the text supports this?
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2. Do you feel the author is more like to be a risk-taker or someone averse to taking risks? Why do you think this?
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b) Words in Context
Use the surrounding context to work out the word meaning of the following words and expressions.
1. What is meant by the word “exempt”? (Paragraph 2)
a) released or excused
b) prohibited or forbidden
c) allowed
d) included in
2. What is meant by the word “incurred”? (Paragraph 3)
a) reduced
b) removed
c) gained
d) increased

3. What is meant by the word “former”? (Paragraph 1)
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4. What is meant by the word “latter”? (Paragraph 1)
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5. What is meant by the word “it”? (Paragraph 2)
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6. What is meant by the word “jeopardy”? (Paragraph 3)
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7. Find a word that means “unusual or strange”.
(Adjective, paragraph 2)
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8. Find a word that means “resulting or following”.
(Adjective, paragraph 3)
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Part 5: Critical Thinking
Respond to the following questions by writing short paragraph answers (6—8 sentences minimum), which you support opinion with specific examples and details.
1. Should people take responsibility for their own risks? If so, how should they do this? If not, why do you feel this way? Support your answer fully with examples and a detailed explanation.

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2. What new legislation should be implemented in Kuwait to further protect people from risk in Kuwaiti society? Support your answer fully with examples and detailed explanations.