One on One with Dr. Ananda

“Don't be too timid and squeamish about your actions. All life is an experiment. The more experiments you make the better.” A quote by Ralph Waldo, which tells people to not be afraid; the more risks you take, the more interesting your life will be. In an entrepreneur's view, it's all about the risk taking; several researchers have used their knowledge of past experience in business to conclude to their findings of the, “Risk and Decision Making”. Without taking risks, Bill Gates wouldn’t be as successful as he is now, having founded Microsoft after life altering decisions. Donald Trump, whose success was due to his willingness to take huge risks., wouldn’t be as fortunate as he is now.  Last but not least is the famous John D. Rockefeller. Owning the world’s largest oil supply known as Standard Oil, Rockefeller, Rockefeller s the wealthiest person that ever lived due to his strategic risk taking and for never settling for anything but the best. Its daredevils like these men that have made a huge impact on the research of risk takers in the business world.

Texas A&M International University is proud to have  Dr. Ananda Mukherji as part of their staff. This year, Dr. Ananda, who is an Associate Professor of Management, received the scholar of the year award, along with others who have received the ASC Outstanding Paper Award for their work on, “The Impact of Environmental Variables and Firm Strategies on the Performances of Entrepreneurial Firms.” Dr. Ananda has experience in the industry and business. Some of the occupations he contributed to were managing partner and co-owner of Alpha Fotos in Visakhaptnam, also in Systems Analyst with Tata Consultancy, both in India. Dr. Ananda has conducted several researches.  He was also an entrepreneur. He declared, “I was an entrepreneur for seven and a half years”.

Some of the researches that Dr. Ananda has completed are: Agency Theory, Risk and Decision Making, and International Strategy. His research projects include Reexamination of agency theory assumptions: Extensions and extrapolations, Reviewing the determinants of risk taking: The relationship between action preferences and managerial risk behaviors, and Assessing and valuing knowledge in international acquisitions: The role of tacitness and information asymmetries. “Risk and return are very well known research in the business area,” stated Dr. Ananda. What is manager or an important businessman that does not take risk? Well according to Dr. Ananda through his study of risk behaviors, they only use the “cognitive side of decision making”

How was the experiment recorded? There are several methods of conducting a study in specific areas. For example, some researchers use numerical data, sample data, and survey data. When asked, Dr. Ananda responded with, “ A lot of risk behaviors use numerical data, although I use the human side of risk taking as well as the numerical side”.  He claimed, “Survey data is not done as much”. Most likely because a researcher will neither get enough nor precise information. The importance of risk taking is not only for leaders, in order to enhance your company to make it much better than any other company, the employees must be willing to also take some risk.

Dr. Ananda is continuing his research in the Laredo area on small businesses.. Hopefully we as readers can continue to learn the importance of risk taking in managers. Seriously, where would all businesses be without having someone to gamble with his or her life? There are losses and there are gains, but it is entirely up to you to make that decision.