Tesco
The Wisdom of Failure
Book

The Wisdom of Failure

How to Learn the Tough Leadership Lessons Without Paying the Price

Laurence G. Weinzimmer and Jim McConoughey
Jossey-Bass, 2012

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Editorial Rating

7

Recommendation

Failure is treated unfairly. Professor of management Laurence G. Weinzimmer and business consultant Jim McConoughey discuss leadership failure and its repercussions as reflected in published research, a survey of managers and interviews with business leaders. Their guide to learning from failure is entertaining and insightful, though it does not set out to plow new ground. getAbstract recommends this basic, easy-to-read manual to leaders and managers who want to understand what worked in the past, what did not and why, so they can benefit from their failures.

Take-Aways

  • Business leaders who do not fail are not taking enough risks, but those who do fail must learn from it and not repeat their mistakes.
  • Leaders who abandon their strategic direction risk destroying their businesses.
  • Executives need to consider the “box” – the constraints they have set for themselves – more fully before trying to function “outside the box” in uncharted territory.

About the Authors

Laurence G. Weinzimmer is a professor of management at the Foster College of Business Administration at Bradley University. Business development consultant Jim McConoughey is a fund manager for venture and early-stage capital investments.

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    U. M. 2 years ago
    good one
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    P. B. getAbstract 1 decade ago
    Good read for all Managers
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    A. 1 decade ago
    Completely agree with the cautionary tale of discounting and how that can affect the value of not just the product but the entire brand.