Risk and Ingenuity
We approach failure a certain way as naval officers. We don’t like it. But what is failure? How important is understanding, and embracing Risk? What is an appropriate definition of failure when it comes to risk? There are downsides to taking risks. Injury, operational losses, embarrassment. But there are upsides also. What is an investment/decision making process where risk is involved?
The Honorable Paul Dabbar is a graduate of the Naval Academy. He served as a nuclear submarine officer, including a deployment to the North Pole, where he conducted environmental research. He has been a lecturer at the Naval Academy and he conducted research at the Johns Hopkins Applied Physics Laboratory. Following his naval service, and graduate school at Columbia Business School, among other things he worked at J.P. Morgan & Co. as an investment banker and managing director for mergers & acquisitions. Back in government service, he served as Under Secretary of Energy for Science. He also served on the Department of Energy's Environmental Management Advisory Board.