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Learning from Failure

A MBA Admissions site cites Rita McGrath:

It’s tempting to gloss over all past mistakes or errors in judgment when you’re immersed in the MBA admissions process; after all, competition for a place in a top program is fierce and no one relishes the notion of painting themselves in a less-than-flattering light.

The good news is, more and more business schools realize that failure represents a learning opportunity for all—from industries to individuals. The December edition of Deans Digest, published by the Graduate Management Admission Council, looks at research from several Business School professors convinced that “To Fail is to Learn.”

“There’s a lot of evidence that suggests that you really don’t learn from success, because you are often unable to attribute the cause,” Rita McGrath, who teaches management at Columbia Business School, said in an interview.

On the other hand, things that go wrong can serve up valuable lessons, as “Success often is a consequence of something that failed earlier.”

For the entire site, click here.

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