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Management Styles<br />

Different Management Styles for Different Environments<br />

Non-Regulated <strong>Utilities</strong><br />

Regulated <strong>Utilities</strong><br />

Margin Maximization:<br />

“Maximize returns in the<br />

context of risk”<br />

Risk Minimization:<br />

“Minimize risk in the<br />

context of fixed returns”<br />

Human Resources Entrepreneurial approach Customer-centric, full service<br />

Capital Reinvestment Highly controlled Prudency governed<br />

Risk Management<br />

Risk-return trade-off to be<br />

considered<br />

No incremental risks to be<br />

assumed<br />

7

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