Past experience can offer highly valuable insight into future outcomes — but only when leveraged effectively. In this piece, the authors discuss three common traps that leaders fall into when attempting to learn from failures: They invest in strategies that don’t help, they overlook strategies that would help, and they don’t notice when seemingly good outcomes are driven by bad processes. To avoid these pitfalls, the authors suggest that decision-makers should analyze successes and failures in tandem, and work to identify the traits and processes that actually differentiate the…
