Skip to main content

Home/ MaRS/ Group items tagged failure

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Assunta Krehl

reportonbusiness.com: Failure and risk - 0 views

www.theglobeandmail.com/...home

Charles Plant failure MaRS entrepreneurship

shared by Assunta Krehl on 30 Mar 09 - Cached
  • Charles Plant, Managing Director of the Market Readiness Program for entrepreneurs at MaRS
  • Plant says that acceptance of failure is a cultural problem in Canada in that we tend not to reward the people who have failed. "We tend to punish people who fail whereas in Silicon Valley, they tend to reward people who have failed because they've learned lessons and can gain from that failure.
  • "I think you have to quickly acknowledge when something is a failure and have a back up plan of what you're going to do," says Plant. "Don't keep flogging a dead horse."
  • ...7 more annotations...
  • "To make failure a learning experience, first you have to celebrate it by acknowledging in a very positive way, the person who tried something and failed. You can't hide it under a table," says Plant. "You've got to develop a system that both rewards for the attempt as well as the success. Frequently, we don't do that and that sends a bad message. The act of punishing people makes them want to stop innovating."
  • We also need to build more accountability into failure, according to Plant who says that when failures are detrimental to the economy, we can't pretend that nothing happened. "Right now, some people are being rewarded for absolutely hideous failures, such as in the banking system," says Plant, who is also a Chartered Management Accountant. "Part of the problem is accounting which does a very poor job of measuring risk. Never leave anything up to the accountants!"
  • "You have to allow people to fail in this economy," says Plant. "It's failure that leads to productivity gain and innovation."
  • According to Plant, there's a different risk tolerance in smaller companies versus big ones, although he doesn't see a real difference by industry. Whether a company tolerates or accepts risk depends largely on the nature of the company. "The more established companies probably don't tolerate failure as well so they don't actually incubate a culture of risk," says Plant. "Larger companies do a lot of things to make sure they don't fail. Smaller ones tend to favour risk because it's the only way they can get ahead. And if you're doing things that haven't been done before, then you're going to fail again and again."
  • "You need a culture that allows failure for success because without it, people become anti-failure," says Charles Plant. "Trying different things is the act of innovation. If you fail 14 times, hopefully you're going to succeed on the 15th try. Without failure, we're not going to be driving and growing the economy."
  • Innovation is the result of taking big leaps,
  • Innovation is the result of taking big leaps, but failure is often the downside of taking those leaps.
  • Cathy Bogaart on 30 Mar 09
     
    without failure, you can't drive productivity. without failure, there is no innovation. So we need to fail to improve the economy!
  • Assunta Krehl on 30 Mar 09
     
    The Globe and Mail investigates the failure and risks with businesses and innovation with business leaders, Tony Chapman, CEO of Capital C, a Toronto communications and advertising company, Charles Plant, Managing Director of the Market Readiness Program for entrepreneurs at MaRS, and Naeem 'Nick' Noorani, founder and publisher of Canadian Immigrant magazine.
Sarah Hickman

The Strategy Paradox: Why committing to success leads to failure and what to do about i... - 0 views

www.amazon.ca/...0385516223

failure leadership strategy

shared by Sarah Hickman on 14 Aug 09 - No Cached
  • Sarah Hickman on 14 Aug 09
     
    A compelling vision. Bold leadership. Decisive action. Unfortunately, these prerequisites of success are almost always the ingredients of failure, too. In fact, most managers seeking to maximize their chances for glory are often unwittingly setting themselves up for ruin. The sad truth is that most companies have left their futures almost entirely to chance, and don't even realize it. The reason? Managers feel they must make choices with far-reaching consequences today, but must base those choices on assumptions about a future they cannot predict. It is this collision between commitment and uncertainty that creates The Strategy Paradox.
Sarah Hickman

Office of Climate Change, UK - Our activities - Stern Review - 0 views

www.occ.gov.uk/...stern.htm

cleantech*&physical*sciences environment

shared by Sarah Hickman on 10 Aug 09 - Cached
  • Sarah Hickman on 10 Aug 09
     
    The first half of the Review focuses on the impacts and risks arising from uncontrolled climate change, and on the costs and opportunities associated with action to tackle it. A sound understanding of the economics of risk is critical here. The Review emphasises that economic models over timescales of centuries do not offer precise forecasts - but they are an important way to illustrate the scale of effects we might see. The second half of the Review examines the national and international policy challenges of moving to a low-carbon global economy. Climate change is the greatest market failure the world has seen. Three elements of policy are required for an effective response.
Cathy Bogaart

Stanford's Entrepreneurship Corner: Tina Seelig, Stanford Technology Ventures Program -... - 0 views

ecorner.stanford.edu/authorMaterialInfo.html

entrepreneurship education

shared by Cathy Bogaart on 05 Jan 10 - Cached
  • Cathy Bogaart on 05 Jan 10
     
    Stanford Technology Ventures Program's Executive Director Tina Seelig shares rich insights in creative thinking and the entrepreneurial mindset. Her talk, based on her 2009 book, What I Wish I Knew When I Was 20, cites numerous classroom successes of applied problem-solving and the lessons of failure.
Assunta Krehl

Small business expert Ron Close on dealing with rejection, Wednesday - Business Exchang... - 0 views

bx.businessweek.com/...view

Ron Close failure business

shared by Assunta Krehl on 13 Aug 09 - Cached
  • Assunta Krehl on 13 Aug 09
     
    Ron Close discusses Police Prep's success and what other entrepreneurs can learn from it.
  • Assunta Krehl on 13 Aug 09
     
    Ron Close discusses Police Prep's success and what other entrepreneurs can learn from it. April 10, 2009
Cathy Bogaart

Innovation's Accidental Enemies - BusinessWeek - 0 views

www.businessweek.com/...b4164080555772.htm

leadership failure innovation

shared by Cathy Bogaart on 21 Jan 10 - Cached
  • Cathy Bogaart on 21 Jan 10
     
    An article by Roger Martin and Jennifer Riel from the Rotman School of Business on how leaders who demand proof that a new idea will work can inadvertently stifle innovation. Breakthrough innovation requires entering into the unknown, thinking beyond what could be right now and focusing instead on what could be in the future.
1 - 6 of 6
Showing 20▼ items per page