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Wednesday, July 05, 2006

How Failure Breeds Success

Wednesday, July 05, 2006
Came across this article on Businessweek....

But intelligent failures -- those that happen early and inexpensively and that contribute new insights about your customers -- should be more than just tolerable. They should be encouraged. "Figuring out how to master this process of failing fast and failing cheap and fumbling toward success is probably the most important thing companies have to get good at," says Scott Anthony, the managing director at consulting firm Innosight.

"Getting good" at failure, however, doesn't mean creating anarchy out of organization. It means leaders -- not just on a podium at the annual meeting, but in the trenches, every day -- who create an environment safe for taking risks and who share stories of their own mistakes. It means bringing in outsiders unattached to a project's past. It means carving out time to reflect on failure, not just success.

This article talks about how failure can help in achieving success in the longer run.... It also discusses the need to encourage risk taking abilities and innovative ideas without being bogged down by the fear of failing.... Several CEOs discuss about their failures in this article and how it has helped them in what they are today...

1 comment:

Chandra said...

Kya samjhdaari ki baat ki hai Biddoo... Keep it up...

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