Category: Failure

You Cannot Fail Your Way to Success

Recently, I have had the pleasure to have an interview with Stephan Strzyzowski, the editor-in-chief of  the Austrian business magazine DIE WIRTSCHAFT. The interview was about failure as a part of the innovation process and how companies and startups can prepare for or respond to failure.

Please find the interview here.

 

Innovation & Failure

The Austrian Federal Economic Chamber invited me to speak at the bi-annual MIT Europe Conference in Vienna about ‘Innovation & Failure: The Basis for Building the Future’. This was a nice occasion to build a story around my research with Sören Petersen (formerly with the Technical University in Berlin, now with Google in Dublin).

In short: In the presentation I highlight that future challenges innovative solutions. Although innovation activities have the potential for failure, failure is a great opportunity for learning. To some degree – up to a certain point – innovation performance improves with increasing failure rates. The negative side effect of failure, however, is that it causes negative emotions and those might hamper the learning effect. Organizations can only learn from failures when they are able to handle those negative emotions.

Here is a video of the full presentation.

 

 

Failure – Scheitern

A couple of weeks ago here at MCI we had an long discussion with the editor-in-chief of eco.nova a regional business magazine.

We talked a lot about innovation and failure, about failure as an opportunity to learn, and about failure that is so deeply related to innovation that innovation cannot be thought about without thinking about failure.

Some of the essence of this conversation found its way into an article published in the most recent edition of eco.nova.