Learning from Failure: The Mojo of Great Companies

Learning from Failure: The Mojo of Great Companies What is it that successful and growing companies know that your company might not be doing? These companies embrace work failures by treating them as strategic opportunities to learn. After all, failure is an inherent outcome of any risk-taking. And in today’s business world, being risk averse is a dead-end. Reframing failure can also help boost your employer brand. Rewarding calculated risks creates an inherently more exciting workplace culture than the status quo; that type of culture will also help you attract quality people - people who know how to fail and bounce back quickly. To be clear, the mistakes we’re talking about don’t involve sending out proposals riddled with errors. We’re talking about attempting something – a marketing idea or a product innovation – having the effort ...


The Best way to build company culture

The Best way to build company culture In the $12.2 billion merger between Marriott International and Starwood Hotels, Marriott CEO Arne Sorenson sent a letter to all 180,000 Starwood associates that centered not on the business benefits of the merger, but on the cultural implications. “A big part of our people-first culture is treating people with respect and transparency,” wrote Sorenson, whose company has been on Fortune’s 100 Best Companies to Work For list 18 times. “You’ll experience both as we work through this process.” When the Internet emerged in the mid-1990s, many saw it as a fad, promoted by young techies who had no idea how to run a business. Now we know that businesses that didn’t embrace the Internet early on had to catch up later. When it comes to company culture, we ...