Chemicals Development Hedge Operations 
Harvard Business Review
JUNE 12, 2012
Conglomerates are defended for their synergies, and for the benefits of diversity as a hedge against failure in one sector (though this argument is often oversold by management, since shareholders can diversify and thus hedge risk for themselves). But conglomerates are inherently more vulnerable than other companies.
Harvard Business Review
MARCH 5, 2013
Adaptable systems make multiple copies of everything and modify the copies to hedge against uncertainty. Identifying even small successes out of a larger operational failure can be the most important way to improve performance in the future. Department of Defense now uses challenges to develop better weapons systems. Redundancy.
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