As one of the most serious industrial accidents in history, the Gulf explosion should be a great case study for corporate leaders across the globe who are trying to manage risk in hazardous activities involving complex technology. Put simply, how did the directors, CEOs, top staff leaders and top business leaders at the companies involved — BP (owner of the Macondo Well), Transocean (rig owner), Haliburton (construction services), Cameron (manufacturer of the blow-out preventer) and other subcontractors — fail in establishing safety management, safety processes and safety cultures which would have prevented the accident or which would have led to more effective crisis response.