Profiting from Risk: A Transformation of One Company's Risk Culture

by Robert N. Charette, Patrick O'Brien, and Art Gemmer

Michael Mandel, chief economist at BusinessWeek, wrote in his book High-Risk Society, "Over the long run, success will go to the people, companies, and countries willing and able to accept uncertainty. Three qualities help people thrive with risk: (1) the right psychological attitude, (2) sufficient financial resources to absorb setbacks, and (3) enough smarts to manage the risks they have taken" [1]. One company that has satisfied all three requirements is Rockwell Collins.

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Profiting from Risk: A Transformation of One Company's Risk Culture December 2004