En number of companies these days have adopted a new approach towards facilitating business innovations. They have taken to heart the principle that experiments are bound to occasionally result in failures, and these are necessary on the run towards innovations. Companies on this list include Coca-Cola, Amazon, Domino’s Pizza and Netflix. A liberal arts college in western Massachusetts- Smith College- has taken the drastic step of even introducing a “Failing Well” programme. On completion of this course, students are presented with a Certificate of Failure. The idea behind this exercise is that failures prepare people to face the hardships later imminent in life.

Source:https://hbr.org/2017/11/how-coca-cola-netflix-and-amazon-learn-from-failure?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:20 August 2019