Building resilience in risk-takers: Developing strategies for success where failure is common

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

The cult of start-ups is already embedded in many major corporations. For those commercial giants that are “too big to fail”, their research and development (R&D) departments talk a lot about failure. Whether it is a skunkworks, a lean operating business development hub, or a suite of fully agile teams working in continuous development, the focus will be on creating minimal viable products with many iterations that will in all likelihood fail. The hope being that for the 999 failures, the 1,000th idea will finally pay dividends.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2018), "Building resilience in risk-takers: Developing strategies for success where failure is common", Human Resource Management International Digest, Vol. 26 No. 1, pp. 17-19. https://doi.org/10.1108/HRMID-12-2017-0175