For developing and then executing business innovations, creative ideas are required, plus the freedom to fail. While working on such new ideas, one is bound to occasionally fail, but what is more important is what one learns from such failures, to turn them around in to a success next time. As a first step, the team or individual need not look back, but ahead. Measured risks need to be taken. This may include a few pilot tests even. One must seek constant feedback. This is the best method for capturing authentic business intelligence. One also has to be willing to get things wrong occasionally. What works in one setting, may fail spectacularly in another, so one needs to be alert accordingly.

Source:https://www.strategy-business.com/blog/How-to-Fail-Successfully?gko=87ee2

Uploaded Date:28 September 2019