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Topic : Innovative Ideas and Creativity
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Leadership Styles

 
Started by : Alapati Bhaskar, Senior Consultant, IML   10 30 2008 08:03:40 +0000
Industry : Management & Strategy ConsultingFunctional Area : Leadership Styles(People Management)
Activity:  20 views;  last activity : 07 06 2010 20:18:09 +0000

The fastest way to succeed is to double your failure rate. How does your company use failure as a vehicle for innovation? Or does it? Share your ideas and expertise on this topic...

 
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1 2 3
1 Failure is Growth
2 Viability
3 Process of Change

Failure is Growth

idea posted by Alapati Bhaskar Senior Consultant, IML
I have found failure a critical component of growth. When a result is produced either for my company or a client that can be termed 'failure', I begin a process of working backwards from the result achieved. By retracing our steps, we can see where we took a wrong turn and why we made that particular choice at that juncture. We can then put in the correction with staff or contractors. We continue on that path until we've found all the errors. The next time we have a similar project, we can use what we learned to avoid the same problems, we might create new problems, but we're always learning.
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Failure necessarily sows the seed of success. Its like medicine. If you are down and out you seek to repair the damage and go get it done!! Its very mental. But it is not a tonic that every man can take. People with extreme beahvioral patterns might not take kindly to failure, but people with exuberant nature and the willingness to admit would essentially go a long way and find success just because they failed initially. Failure has to be critically adjucated. It has to be a reminder, it has to lead to more hard work and research (why?), it has to lead to path breaking answers and it has to lure a mind to succeed.

we deal with failures positively.

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Viability

idea posted by Jagbir Singh Senior Consultant, Ernst & Young
We take a multiple path approach, and each approach is evaluated on its financial viability, its commercial viability and its operational viability (is the return worth while/can we afford it does it have a market can we deliver?). Some fail, and we learn from those failures. Some are successful and then not so successful because of market changes, etc.
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Process of Change

idea posted by Jagbir Singh Senior Consultant, Ernst & Young
We're a small human resource, leadership and team building firm. Failure has always been a primary prerequisite to "success" it's necessary, early and often. Think about it as learning to ride you first bicycle, few succeed the first time out. Success typically comes with embracing the process of change, growth and trust. Few "leaders", no matter how accomplished, have hit the "bulls-eye" their first time out. Ironically, lawyers call it a "practice":-)
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