Learning From Failed Attempts

What does space exploration have to do with business strategy? More than you'd think. The Economist recently featured Peter Madsen, BYU assistant professor of organizational behavior and strategy, for his research using orbital launch attempts to investigate how organizations learn from both successful and failed ventures. Madsen found that failed launches reduce the risk of future problems, but he suggests extracting lessons from smaller, less costly mistakes.

Read the full article in The Economist here.