Making room for failure

02/28/2013 | Wall Street Journal, The

Companies that want to innovate should make room for people to fail, says John Rice, vice chairman of General Electric Co. "If you fail because of some external event that you couldn't control, if your logic was right, if your execution was good and you fail for some reason that couldn't have been foreseen, I think that could be a reasonable reason for failure," he said.

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