An intelligent failure is an undesired result in new territory. There’s no way you can know for sure whether it will work out without trying it. […] An intelligent failure differs from two other types of failures: a basic failure, which is caused by carelessness or ignorance, and a complex failure, which is caused by multiple factors, none of which would have caused the failure on its own. In both of those cases, a company or an individual can minimize the chances of those failures occurring by paying close attention and catching mistakes before they spiral out of control. Intelligent failure, on the other hand, is unavoidable if a person or business is taking the kinds of calculated risks that can result in great rewards. In fact, if you are not regularly failing intelligently, then you probably are not operating at your full potential.
Author: Amy Edmondson
Source: Harvard Business School (HBS) Working Knowledge
Subjects: Innovation, Management, Risk Management, Success / Failure
Click to Add the First »