Nothing Succeeds Like Failure

Nothing Succeeds Like Failure

The Brazilian finance professor says, "honoring failure simply isn't in the DNA of most results-oriented executives. At most companies, the penalty for failure is high." ( Robert Weisman, "In some cases, nothing succeeds like failure," Boston Globe, December 10, 2006)
Isn't rewarding failure called government? We already see how successful that is in Massachusetts. The better one fails the greater the reward.

--
Roy Bercaw, Editor
ENOUGH ROOM
Cambridge MA USA

BUSINESS INTELLIGENCE
In some cases, nothing succeeds like failure
Boston Globe
By Robert Weisman
December 10, 2006

Gustave Manso , a Brazilian-born finance professor who joined the faculty at MIT's Sloan School of Management this fall, is researching a problem that's not always considered a priority in executive suites: how to reward failure. Manso thinks it's nearly impossible for companies to develop breakthrough products, processes, or approaches without encouraging the kind of trial and error that inevitably generates failures as well as successes.
For him, the challenge is to craft incentives that will make creative people comfortable with thinking big and taking risks. "To induce employees to explore new ideas, you have to tolerate early failure and reward long-term success," he said. The dynamics of motivating innovation was a subject of Manso's doctoral dissertation at Stanford University last spring before he arrived at the Massachusetts Institute of Technology.
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Robert Weisman can be reached at weisman@globe.com.