Philosophy, failure and rockets

The latest edition of Philosophy Now magazine (Jan/Feb 2011) directs our attention to a paper in the Acadmey of Management Journal. The paper by a Prof. Desai looked at the long-term effects of catastrophic failure on business. Those business that failed big actually succeeded better in the long run – something that Prof Desai attributes to hard lessons being learnt and staying learnt! Why do i mention this – well the business he looked at is the space industry, specifically companies involved in vehicle launching, nothing says failure like a lost satellite!

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