This chapter talks about the conceptual links between risk and the theoretical and operational themes of organizational learning and presents the interviewees' comments. Congenital learning is critical because it sets the tone of the culture of learning that the company then builds on. The philosophy of learning and risk perception as well as notions of efficiency in shipping was still very obvious as derivations from that of the earlier company. Experiential learning appears to be the most dominant form of learning in the shipping companies. There are suggestions in the literature that point to 'organizational experimenting' as one of the important aspects of experiential learning in organizations. All experiential learning is obviously heavily dependent on feedback cycles. One form of learning that requires feedback is vicarious learning. This refers to learning that organizations undertake based on events in other contexts for example, other shipping companies.