Rewarding Failure, is it a strategic resource?
"Failure" is an option at some business environments. Growing numbers of large & small companies are recognizing that fostering an environment that encourages risk-taking is essential for innovation and staying a step ahead of the competition.
As an orgaizational resource, these managements are rewarding their staff for the best failyre idea. The core competency is to encourage the employees to initiate and create new ideas and opportunities. Ordinary rewards could be well recognized, but will have its limits. Rewarding failure is a unique idea to create a culture that encourages risk-taking and recognizes people who are looking to succeed.
The core process of such companies is to open the door to innovate and take risk. Companies avoid failure to low their costs and employees usually think about failure as a "black point" in their currier portfolio. They measure and study each step of their job in the proper way, as they should do, to avoid any mistake. That could limit their mind and thinking of any new ideas of innovation to improve their job.
The new environment would open the door to step out and take risk.
This idea was in some large and small companies and led good and well-recognized results. Some examples of such rewards:
- "failure of the month" reward which was innovated in PlumpJack Group (www.plumpjack.com).
- "creative error of the month" contests which is sponsored by BMW
IBM's Thomas Watson Sr. quipped, "The fastest way to succeed is to double your failure rate"
Although the idea of failure have many disadvantages and limits, but it is considered as a business concept innovation for some growing companies.
posted by Eng. Wasim @ 12:13 ص
<< Home