18 Aug 2010

Mistakes or Ristakes - What to Celebrate?

HBR has a interest blog post by Vineet Nayar that questions to blanket logic of celebrating failure. I am a big proponent of celebrating failure, but I think the distinction between Mistakes and Ristakes is important.
Definitions:

Mistakes: A mistake is as an error in action or calculation caused by poor reasoning, carelessness, or insufficient knowledge.
Ristakes: A risktake is an error — but not one caused by carelessness or insufficient knowledge. Its possibility has been foreseen, calculated, and accepted.

When I talk about celebrating failure, I implicitly assume you recognize that we are talking about failures of the Ristake variety, but I can see how some may not assume that I am including Mistakes as well. Although, I think we should "cautiously" celebrate the first occurrence of a Mistake in the organization.

In business I think we often do not delve too deeply to determine if the failure was a product of a Ristake or a Mistake. Mistakes are embarrassing for employees and the company, so the common response is to shape it as a Ristake, celebrate it, and quickly move on. Unfortunately, your employees miss a valuable opportunity to understand and learn from the mistake. There is a chance that the same mistake will be repeated somewhere else in your organization. Is it possible for a company to celebrate the same mistake (although framed as a ristake) multiple times throughout the company?
I think so...

1 May 2010

Video: Reviving Lego and Leadership

This is an interview with Jorgen Vig Knudstorp, the person responsible for reviving the Lego franchise. It is a great discussion on how he approached the flailing Lego brand, what he did to turn the ship around, and what it takes to be a business leader.

My favorite quote and something I have been thinking about alot as I work for a company with a lot of mature business lines, "...Do you take responsibility or do you blame it on some external factor like currency, or financial crisis, or poor weather because if that's your major reason for how your business develops, what the hell are you doing in the job?". So true.

You will need to create an account to see the full video, but I highly recommend it. I watched a few videos on the site and they are very well done. The interviewer asks some very insightful and well researched questions.

 

-->

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

-->

Trevor Speirs's Space

Constantly Learning, Fearlessly Doing


Passionate about technology start-ups (especially at the intersection of social, mobile, and game technologies), I am currently exploring the large corporate world by helping a $4 billion multi-national improve their innovation strategy.
In my spare time, I try to find the best indie music bands to supplement my massive music collection and share with my friends.