I attended a thought-provoking presentation & event last night by Chris Reichhelm of Peloton Leadership, where the theme was 'Building a High Impact Company'.
A sub-theme that really got me thinking was how boards deal with failure - "High Growth companies are Failure Factories!". If Boards and Companies want to be innovative and agile, they need to be able to experiment, fail/make mistakes, learn, repeat and plan for this process. But this is easier said than done. It's too easy to punish failure and be negative. It made me think about how a Board can help executives to create the right culture where trying and failing is encouraged, and not just a slogan.
When failure happens, and it always happens, high impact executives don’t make it personal. They plan for it, learn from it, bounce back and move on.