Risk Management: From Portfolio Strategy to Value-creating Systems Strategy by Eskil Ullberg, Enrique Rodriguez and Nils Stormby à When the Michelin brothers, who had invented the inflated tyre that could be dismantled, printed their first guidebook ‘‘Guide Michelin’’ in 1900, it was a very foresighted concept for marketing. The purpose was to find a way to promote the automobile and the guidebook was given free of charge to those who bought the tyres. At the time, covering the distance between Paris and Nice was a real adventure for the rare French automobile owner of the time (there were 2,900 automobiles in 1900!). The idea was to accompany them during this risky à Eskil Ullberg, MBA, MSc, Senior Consultant in Management, Risk Management and IT, SMG Consulting, Sweden, with Enrique Rodriguez, PhD and Professor Nils Stormby. Thanks to Richard Normann for very constructive ideas. Figure 1: Michelin’s ‘‘Guide Rouge’’ (1900 and 2000) The Geneva Papers on Risk and Insurance Vol. 27 No. 3 (July 2002) 467–476 # 2002 The International Association for the Study of Insurance Economics. Published by Blackwell Publishers, 108 CowleyRoad, Oxford OX4 1JF, UK.