Summary: Whoever Makes The Most Mistakes Wins - Richard Farson and Ralph Keyes: The Paradox of Innovation

This work offers a summary of the book "WHOEVER MAKES THE MOST MISTAKES WINS: The Paradox of Innovation" by Richard Farson and Ralph Keyes.In business, the concepts of "success" and "failure" are more ambiguous than most people acknowledge.

Not only are there many different ways to define both these terms but frequently, short-term failures lay the foundation for long-term success.

That means these failures are an unavoidable part of the pathway to succeeding.The best way to fall behind in a shifting economy is to rely on what worked in the past - formulas that have grown obsolete.

Instead, companies need to encourage their innovators to learn more by making productive mistakes.

In this environment, managers should worry less about rewarding success and focus more on learning from both failure and success.In many ways, success is the ultimate business paradox.

The less we chase success itself, the more likely we become to genuinely succeed.

Success actually isn't all that different from failure.

The truly great business enterprises find ways to motivate everyone to put in their best efforts to be creative.

Whoever Makes the Most Mistakes Wins teaches that in that kind of environment, the short-term results matter little because the organization will be positioned advantageously for the long haul.