Managing risk is very different from managing strategy. Risk management focuses on the negative-threats and failures rather than opportunities and successes.

I loved my career at Goldman Sachs. I believed in business principle number 1: if the client succeeds, our own success will follow. This principle formed the basis for my career and my leadership style.

Authenticity is critical to leadership. That means trying to be yourself - this involves some self-disclosure, admitting what you don't know and being willing to ask questions.

Great companies create an environment in which employees act like owners. They do this through clear communication, articulation of clear vision and priorities, coaching and openness to debate/discussion. I would argue that this type of environment helps people to be at their best - and helps the company to be at its best.

Why do leaders fail? Isolation and inability to learn. They are afraid to express doubt, admit vulnerability or seek advice from subordinates. Leaders must actively work to seek feedback and a reality check. They must be open to asking questions and framing issues. As the world becomes more complex and global, the risk of isolation becomes greater. The need for leaders to be open to learning becomes greater. Great leaders will need to ask the right questions and balance inquiry with advocacy.

There are multiple ways to solve a problem and add value. There are seldom right answers. So, you've got to use your abilities to diagnose a situation and use your best judgment on what to do and how to do it. You WILL make mistakes - when you do, admit them and go back and try to fix them. I don't know is often the right answer.

There's a step that leaders need to take; they've got to understand themselves.