Celebrating Failure Helps Innovation Efforts

Many companies fear failure, but it can be a jumping-off point for future success. In fact, frequent failure is even ideal for spurring innovation. Allowing front-line employees to be creative and share their ideas, tweaking working processes, and learning from failures can all help companies improve their innovation efforts. Companies such as Google, Netflix, and Amazon embrace small failures as a way to stay the course. Planning for failure, rather than just bracing for it or anticipating success on unfounded data, can help companies come back even stronger in the face of disappointment.