Benchmark – The Value of Taking RisksLeaders often operate in risk-averse environments, modeling tepid behavior to followers who, in turn, avoid putting any pressure on the system. This mentality destroys creativity and innovation, often resulting in catastrophic failure. However, when well-reasoned, deliberate risk is embraced, organizations can move forward with extraordinary effectiveness. It is a leader’s responsibility to mitigate possible adverse consequences of the risks. In a complex dynamic system, downstream effects can be difficult to determine, but measures must be taken to assess the impacts of decisions. When a concern is identified, corrective action can be taken. Cultural differences can also play a significant role when leaders engage in risk-taking when making strategic decisions. Leaders must be cognizant of how their behavior can impact collocated teams as well as cross-cultural virtual organizations. In this assignment, you will revise your prior work on the theoretical approach to leadership and explore the leader’s role in taking risks when making strategic decisions, evaluating risk mitigation strategies, evaluating organizational structures, and managing risk in collocated and virtual global environments.General Requirements:Refer to your submission for the Topic 2 assignment, “Benchmark – Leading Strategic Decision Making.”This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.Doctoral learners are required to use APA style for their writing assignments. The APA Style Guide is located in the Student Success Center.Refer to the Publication Manual of the American Psychological Association for specific guidelines related to doctoral-level writing. The manual contains essential information on manuscript structure and content, clear and concise writing, and academic grammar and usage.This assignment requires that at least two additional scholarly research sources related to this topic, and at least one in-text citation from each source be included.You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.Directions:Part 1Present a revised version (1,500-1,800 words total) of the paper “Benchmark – Leading Strategic Decision Making” that makes improvements in the caliber of the writing and incorporates instructor feedback regarding content and writing. Include the following in your submission:THIS IS THE PART THAT NEEDS TO BE WRITTEN!A reflection (250-300 words) that provides a bulleted list of the changes you made to the ORIGINAL paper and discusses your revision process including how you incorporated your instructor’s feedback into the revised version. Similar to an abstract, this section will receive its own page following the title page and preceding the introduction to the paper.The revised paper that incorporates instructor feedback; clarifies the thesis statement and solidifies supporting arguments; edits for grammar, spelling, and punctuation; adjusts word choice to display professional and scholarly language; and adjusts sentence structure for improved readability.Part 2Write an ADDITIONAL 1,250-1,500 words discussing the leader’s role in taking risks when making strategic decisions, evaluating risk mitigation strategies, evaluating organizational structures, and managing risk in both collocated and virtual global environments. This section should flow naturally from the revised paper. So, you may also need to revise your introduction and thesis statement to allow the papers to connect. Include the following:A research-based explanation of why it is important for leaders to take risks when making strategic decisions.A research-based evaluation of risk mitigation strategies. Which strategies most probably reduce the likelihood of adverse effects of the decisions?A research-based discussion of the organizational structures most conducive to risk-taking. Why are some organizational structures better than others for encouraging risk-taking? (Benchmarks C6.1: Evaluate organizational structures and determine the feasibility of each.)A description of at least two differences in risk-taking when making decisions in collocated versus cross-cultural virtual organizations.