Are You Embracing Failure Or Encouraging Failure?

One of these approaches leads to innovation and the other leads to wasted resources and yes, actual failure. P&G has a "heroic failure award," Tata has a "dare to try award," Google X, Supercell, and many other companies all have similar programs in place where they reward failure. However embracing failure isn't the same thing as encouraging failure. Embracing failure happens in a controlled environment where employees are taught how to innovate and are given the resources and the funding required to see an idea through. This isn't the same thing as just handing out cash to employees without any type of training or support. In this episode of the #futurein5 I talk about how organizations can embrace failure without encouraging it. There is a huge difference between the two. Which one is your organization doing? Listen to the full discussion and let me know what you think!