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Learn From Failure
The depth to which failures are accepted as a development and innovation driver also will vary by industry. According to Prudential Financial’s Metzger, who’s heavily involved in the company’s leadership development efforts, failure cannot operate to the same degree across different organizations. Learning leaders need to recognize how and if failure as a learning tool will align with an organization’s business strategy and industry. The ways in which certain failures are accepted in this vein likely will be different for every company.“There are businesses like Facebook that can afford to move fast and break things and just recover quickly,” Metzger said. “So, if that’s OK for your industry, that’s a way to go.”That is not always the case for a firm like Prudential, which prior to the financial crisis and ensuing recession sought to develop a new leadership competency around innovation. The genesis of the competency stemmed from the company’s desire to promote growth and alter the perception that it had grown too stodgy and boring, dull and dependable.Prudential wanted to develop a competency in its leaders so they would take more risks to help grow the business over the long term. “There was a feeling that we really needed to get out there and think more broadly and make some mistakes and slip and fall and learn from that,” Metzger said.
Leveraging the Latest in Brain Science to Deliver the Next Generation of E-Learning
May 29th 1:00pm - 2:00pm CT
2013 CLO Breakfast Club, Boston
September 12th - 12th, 2013The Westin Copley Place
Fall 2013 CLO Symposium
September 30th - October 2nd, 2013Rancho Las Palmas Resort & Spa
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