To Whom We Owe Duty
Our main duty is to maximize the firm’s share value; we are focusing on the share and not on the shareholders. Firm’s stakeholders, like employees, clients, owners (partners) and the society at large will also be benefited, if we create long-term value.Christos Rados, CEO
Our Core Governance Principles
- Our firm has not an inherent value. Value depends on who is leading the firm and what strategy they pursue – who is the best owner.
- Applying the principles of value creation requires independence and courage.
- Our core purpose is to maximize the expected free cash flows; to maximize throughput, while reducing investment and operating expenses.
- It is not access to capital that matters; it is competition that matters.
- For value creation, Trust is the rule, Fair Process the law, and Knowledge Sharing the constant goal.
- Clients come first, the firm (project teams) comes second, and individuals come third.
On Normalization of Deviance
In most types of corporate scandals, fraudulent manipulations typically start small and snowball overtime, giving rise to what psychologists call the "normalization of deviance". To the extent that other firms did something similar, industry social norms may have provided another convenient rationalization.
The Law of Requisite Variety
As transportation designers and engineers by profession, we frequently use the Ashby’s Law. Ashby’s Law is a fundamental law of cybernetics and it is also known as the Law of Requisite Variety. Transportation engineers make use of this law to control the traffic jams.
Race's Managing Partner
Christos Rados (1965), an entrepreneurial executive in the professional engineering services industry, is an ambitious giver who fosters creativity and excellence in the people around him.