Summary of The Wisdom of Failure
How to Learn the Tough Leadership Lessons Without Paying the Price
Great leaders learn more from failure than from success.
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.
In this summary, you will learn
- Why it is important to learn from mistakes,
- Where leaders are likely to fail and why, and
- How to understand and overcome the traps you are likely to encounter in organizational life.
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.
Comment on this summary
4 years agoGood read for all Managers
4 years agoCompletely agree with the cautionary tale of discounting and how that can affect the value of not just the product but the entire brand.
Contained in Knowledge Pack:
Knowledge PackTurnaroundsLessons from the leaders who never gave up.
Knowledge PackLeadership MistakesLearn from other bosses' mistakes.
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