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Harvard Business School professor Amy Edmondson discusses the importance of failing well in business. She distinguishes between good and bad failures, emphasizing the value of experimentation and psychological safety. The podcast explores the challenges of not experimenting enough due to fear of failure, and the need for feedback and learning from mistakes to drive innovation.
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Quick takeaways
- Distinguishing between good and bad failures is crucial for fostering innovation through smart experiments in new territories.
- Learning from mistakes in established processes and promoting psychological safety are essential for organizational growth and resilience.
Deep dives
Understanding Different Types of Failure
Amy Edmondson discusses the importance of distinguishing between good and bad failures. She highlights that one type of failure stems from experimentation, which is crucial for innovation, while the other results from inattention or lack of training. By differentiating between these two types of failures, organizations can foster a culture that embraces intelligent failures in new territories, enabling rapid learning and innovation.
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