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Home » Awareness » Fail often, fail well: Companies have a great deal to learn from failure—provided they manage it successfully

Fail often, fail well: Companies have a great deal to learn from failure—provided they manage it successfully

Apr 14th 2011

BUSINESS writers have always worshipped at the altar of success. Tom Peters turned himself into a superstar with “In Search of Excellence”. Stephen Covey has sold more than 15m copies of “The 7 Habits of Highly Effective People”. Malcolm Gladwell cleverly subtitled his third book, “Outliers”, “The Story of Success”. This success-fetish makes the latest management fashion all the more remarkable. The April issue of the Harvard Business Review is devoted to failure, featuring among other contributors A.G. Lafley, a successful ex-boss of Procter & Gamble (P&G), proclaiming that “we learn much more from failure than we do from success.” The current British edition of Wired magazine has “Fail! Fast. Then succeed. What European business needs to learn from Silicon Valley” on its cover. IDEO, a consultancy, has coined the slogan “Fail often in order to succeed sooner”.

Read more…

http://www.economist.com/node/18557776?story_id=18557776&fsrc=rss


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