Playing it Safe?

Here is a thought provoking article on turning failures into success

http://www.businessweek.com/magazine/content/06_28/b3992001.htm

I have clipped a few lines and comments from this article that I found interesting: Enjoy!

Playing it Safe?

How Failure Breeds Success

  • Everyone fears failure. But breakthroughs depend on it. The best companies embrace their mistakes and learn from them
  • After years of cost-cutting initiatives and growing job insecurity, most employees don’t exactly feel like putting themselves on the line. Add to that the heightened expectations by management on individual performance, and it’s easy to see why so many opt to play it safe.
  • Perhaps most important, it means designing ways to measure performance that balance accountability with the freedom to make mistakes. People may fear failure, but they fear the consequences of it even more.
  • Failure’s capacity to teach is exactly why venture capitalists often look for managers to run startups whose résumés include experience with a flop.
  • I agree with Stefan H. Thomke that “failure is not a bad thing.” Failure isn’t a bad thing because you take your mistakes and you learn from them, as long as you don’t make that same mistake.
  • The attitude of people all over the world is usually negative. However, I believe one of the most essential ingredients of success is failure. That is, failure is part of success irrespective of one’s perspective. Human beings should learn to accommodate some levels of failure and pick from the failure essential lessons which could reposition the person, product or the organization.

Do you have room for your organization to learn from mistakes? If so, how are you communicating it. Give us your tips for success.

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