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Motley Fool Money

Harvard Business Prof on Failing Well

Feb 18, 2024
24:28
Snipd AI
Harvard Business Prof Amy Edmondson talks about the art of failing well. Discussion includes the complex failure at Boeing, dealing with failures, and the problem with 'move fast and break things'. Companies discussed: BA, LLY
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Podcast summary created with Snipd AI

Quick takeaways

  • Psychological safety is crucial for fostering open communication and preventing failures in organizations.
  • Intelligent failures involve exploring new territories, taking calculated risks, and gathering insights for future success.

Deep dives

Creating a Culture of Psychological Safety

Psychological safety is crucial in organizations for fostering a workplace where individuals feel safe to speak up, share concerns, and prevent failures. Leaders should encourage open communication and recognize the importance of addressing uncertainty, human error, and system complexity. Policies like blame-free reporting can further support psychological safety and encourage individuals to report errors without fear of punishment.

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