Thursday, March 07, 2019

Take Risks to Learn and Improve, But Do So Wisely

My edited comments on: The Limits of Learning From Failure

Failure can be a great learning tool, especially if it is planned. Create an environment that supports and learns from failure, but also use the scientific method, coupled with experience, to understand and mitigate the risks.

I agree, I wrote about this on my blog: Accept Taking Risks, Don’t Blithely Accept Failure Though

The goal is to maximize innovation and improvement. To the extent we need to take risks and accept some failures to achieve this we should accept failure. But that doesn’t mean we don’t continually try to improve our management systems to reduce the costs of failure. Even while we take risks we want to do so intelligently.

It is true many organization are so fearful of being blamed for failure that sensible risks are avoided. We do need to create management systems that allow taking sensible risks but we need to learn while still limiting damage from failures. Do experiments on a small scale, iterate quickly and expand the scope as you learn.

Related posts: Learn by Seeking Knowledge, Not Just from Mistakes - Risks Should be Taken Wisely - What is the Explanation Going to be if This Attempt Fails?

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