It is crucial to distinguish between mistakes and failures. Mistakes are deviations from known practices and can happen due to various reasons like inattention or lack of training. Leaders should create an environment where permission to make mistakes is encouraged as it is a human trait. The emphasis should be on catching and correcting mistakes quickly rather than avoiding them altogether. It is important to talk openly about the inevitability of making mistakes and to view them as opportunities for learning and growth.
We all know Silicon Valley’s mantra: fail fast, fail often. But when is it OK to fail in the real world?
Harvard Business School professor Amy Edmondson says it depends on how and why you fail. She’s an expert on psychological safety and the author of the book, Right Kind of Wrong: The Science of Failing Well.
In this episode, she explains the difference between good and bad types of failures. One has to do with experimentation, while the other is rooted in inattention or lack of training. Edmondson also explores the downsides of not experimenting enough because your team fears failure.
Key episode topics include: strategy, psychology, business failures, psychological safety, experimentation.
HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week.
· Watch the original HBR New World of Work episode: It's OK to Fail, but You Have to Do It Right (2023)
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