79% of C-suite executives say their organisations are tolerant of failure

EY (2019)

Encouraging a tolerance for failure is essential for innovation. As the late Steve Jobs said, "The people who are crazy enough to think they can change the world, are the ones who do." innovation comes from taking risks and trying new things, even if they might fail. If organisations only reward success, employees will be afraid to take risks and experiment. However, suppose organisations encourage a culture of innovation and experimentation. In that case, employees will feel more comfortable taking risks and trying new things. This willingness to take risks is essential for innovation. So, it's no surprise that 79% of C-suite executives say their organisations are tolerant of failure. By creating an environment where innovation can flourish, organisations can increase their chances of success.