When it comes to learning from failure in the innovation process, former Procter & Gamble CEO A. G. Lafley suggests that the key is to
A. work within a competent team so that blame is spread around among strong players.
B. look for innovation in small increments, so that failure risks are small.
C. fail early, fail cheaply, and don't make the same mistake twice.
D. develop a tolerance for ambiguity so that failure does not personally upset you.
E. avoid it by almost any means necessary because it will irreparably harm your reputation.
C. fail early, fail cheaply, and don't make the same mistake twice.
"You learn more from failure than you do from success," says A. G. Lafley, "but the key is to fail early, fail cheaply, and don't make the same mistake twice." Lafley, who doubled sales and quadrupled profits for P&G, admits to having had "my fair share of failure. But you have to get past the disappointment and blame and really understand what happened and why it happened."
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