Reward success and failure. Punish only inaction.
Dave Berkus
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THIS WEEK:REWARD SUCCESS AND FAILURE. |
Hello CogLab,Here's one about you and the company culture you create or reinforce. Come to think of it, this one can apply at home as well. Please read on... You can purchase this and more than 350 insights contained inside the books in the Berkonomics series at my Amazon store by clicking here - but of course only after reading this week's insight. Dave Berkus Tuesday,
October 12th, 2021
Reward success and failure.
Punish only inaction.
Reward failure? That may be a difficult concept for an executive. And there are limits of course. We wouldn’t reward a failure to follow laws, or protect lives, or deliberate endangerment of the company or its people. There are “good” failures. But should we reward a research team that fails for
the fourth time to find the solution to a Relate this to the culture of your company. The culture of the company you grow is very much influenced by your actions in rewarding or punishing employees or whole departments. And the best companies seem to be those that are motivated from the top to push limits within reason to find better ways to do things, to create products, to expand the market. The CEO must realize that most such efforts lead to a dead end or will fail outright. Here’s (another) personal story… I was once in the record business. Speak about insanity ...To read the rest of this post, click here to go to Berkonomics.com. |
nagging problem - on the way to a new product? What if
those failures are commonplace? Where do we
draw the line? We know that Edison tried a
thousand types of material before finding tungsten for
the core of the light bulb. If he had been a
research employee reporting to you, at what point would
you have pulled the plug on the project, or become
disillusioned with the person?
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