Learning from Failure and Factors Influencing Failure

Abstract

Failure is a ubiquitous and inescapable element of life, thus sooner or later we will all have to deal with failure-possible scenarios. It is impossible to avoid failure and blunders, even with stringent procedures, employee education, and/or the implementation of the latest technology. This holds true even for persons who are incredibly successful and well-respected, since most effective leaders have more professional failures than triumphs. Their capacity to learn from their mistakes is a key factor in determining how successful they are, and this has led to, learning from failure becoming a more popular topic for research into organisational learning and individual development. In this article, we have compiled many studies how to learn from failure effectively and the variables that may affect this process.