Dr. Amy C. Edmondson, Novartis Professor of Leadership and Management at Harvard Business School and co-author of Building the Future: Big Teaming for Audacious Innovation, writes: Again, the remedy—which does not necessarily involve much time and expense—is to reduce the stigma of failure. Eli Lilly has done this since the early 1990s by holding ‘failure parties’ to honor intelligent, high-quality scientific experiments that fail to achieve the desired results. The parties don’t cost much, and redeploying valuable resources—particularly scientists—to new projects earlier rather than later can
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