A lot of companies these days talk about enabling failure as a part of initiating business innovations. Unfortunately, mostly all this is just lip service. Mots companies are still in practice, too cautious, and this reflects in the makeup of the top leadership which is mostly comprised of those with generally unblemished successful results. One tends to have more failures with increase in position as stakes then grow. A lot of young achievers both in their professions and in academics, tend to suffer more psychologically when faced with real failure as they’ve never had that experience in the past. While social media can be a great pull for digital marketing, it can also be a massive leveler with failure stories constantly posted across the various platforms. A safe environment where innovations are nurtured usually see the best spurt of creativity. The best way to imbibe failure as a learning tool is to immediately apply the skills grasped as ninety percent of senior executives do according to a study by Columbia Business School. One can also take solace from the stories of failure by Steve Jobs and Howard Schultz among others to help cope up.

Source:https://www.strategy-business.com/blog/Reframing-Failure?gko=89782

Uploaded Date:06 February 2018