Managing Risks: A New Framework - Harvard Business Review

Managing Risks: A New Framework - Harvard Business Review: "Since this issue of HBR went to press, JP Morgan, whose risk management practices are highlighted in this article, revealed significant trading losses at one of its units.  The authors provide their commentary on this turn of events in  their contribution to HBR’s Insight Center on Managing Risky Behavior.

When Tony Hayward became CEO of BP, in 2007, he vowed to make safety his top priority. Among the new rules he instituted were the requirements that all employees use lids on coffee cups while walking and refrain from texting while driving. Three years later, on Hayward’s watch, the Deepwater Horizon oil rig exploded in the Gulf of Mexico, causing one of the worst man-made disasters in history."

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