The key to benefitting from failure does not reside in failing. Failing is not a virtuous act.
About Barry Linetsky
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Entries by Barry Linetsky
Throughout his roughly forty-five-year career, from Kansas City, Missouri, to California and Florida, Walt Disney marched towards a higher vision of possibility and actuality as seen in contrast to the “failed” solutions of business and urban planning conventions. He was an innovator.
In the right context and when appropriately framed, the identification of failure is one the best way to scout out and identify the possibilities for improvement. To the keen entrepreneurial eye, the failure of others can shine light on potential opportunities.
There is a strange idea that has been floating around the world of management for the past few decades. It is this: failure is good and should be both encouraged and embraced.
With the recent interest in applying Austrian economic theory towards a better understanding of managerial effectiveness, there is value in reflecting on Walt Disney’s career through an Austrian lens.
A technique to improving managerial performance when planning is to take into account the second and third-order consequences and implications of one’s actions across an expanding time period. The farther out one is able to project and consider, the better.
The term praxeology is used to convey the general scientific study of human behaviour as differentiated from the study of the clockwork deterministic physical scientific world of natural stuff void of consciousness.
Henry Hazlitt does an excellent job presenting the importance of recognizing and always taking into consideration the likely unseen and unintended consequences of intended action in the realm of economics in his classic book Economics in One Lesson.
Awareness of the Unicorn Problem helps to shine light on why it is that our aspirational good intentions to achieve outstanding results – in politics and in the workplace – so often differ widely from our capabilities and our profound disappointment in the actual results of our collective team efforts.
The impossible task we each have in assessing the effectiveness of our thinking and action is that we cannot observe the results of actions not taken.