Valdez was a devastating experience for our corporation. What emerged from that was a commitment to develop a systematic approach to managing risk in advance.
Sentiment: NEGATIVE
One way to mitigate our risk is to invest in companies with understandable business models.
Working for a big company is, I believe, much risker than it looks.
Business is all about risk taking and managing uncertainties and turbulence.
In business, you try to minimise risk.
Strong organizations with strong risk controls will survive and prosper.
A life lesson for me is, how do you muster the courage to take on a new risk? Whether it's starting up a business or taking on a new project or expedition. I think the risks that we take are all relative to the risk-taker.
There is no progress without risk, and in an environment where change is accelerating, risks are multiplying and businesses are increasingly complex, companies need strong, innovative partners to help manage their risk. Our brand clearly sets XL apart as the strong, innovative partner needed in today's market.
There is a tremendous amount of support for the approach we have taken, which again is to base our decisions on risk analysis and thoughtful scientific process.
The biggest risk is not taking any risk... In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.
We brought Safeco back from the brink of failure.
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