If you want to innovation, learn or develop new skills, a certain amount of failure is inevitable. This failure can be completely worth it, since the benefits of a major, innovative breakthrough are usually far greater than the cost of the failures it took to get there. Failure can also help you learn how to do things better. Additionally, leaders who encourage initiative, innovation and smart risk-taking, even at the cost of some failures, are much better for morale and productivity than more rigid, failure-averse leaders.
- Managers who are tolerant towards risk-taking and initiative — even at the cost of sometimes failing — are better for employee morale.
- Failure in management positions can be an important part of the learning process for up and coming leaders.
- The benefits of innovation often far exceed the consequences of failure in the pursuit of innovation.
“As Bezos and countless other entrepreneurs recognize, innovation and failure go hand-in-hand.”