STANFORD KNOWLEDGEBASE | “Failure can be a huge engine of innovation for an individual or an organization - the trick lies in approaching it with the right attitude and harnessing it as a blessing, not a curse,” writes Baba Shiv, Sanwa Bank, Ltd. Professor of Marketing at the Stanford Graduate School of Business. Shiv describes two mindsets around failure: Type 1 is is fearful of making mistakes, Type 2 is fearful of losing out on opportunities. How can organizations shift from Type 1 to Type 2 thinking?
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RE/CREATING TAMPA | We are in the middle of a manufacturing revolution, Re/creatingtampa.com explains. “For those involved in this revolution, and those who watch culture along the fringes, this is old news. Mainstream America and policy makers, however, seem to be completely unaware of the revolution taking place… As long as this manufacturing revolution stays on the fringes it will have little economic impact. If we can harness it, support it, incubate it, we have the possibility of generating an economic boom akin to the Internet economy of the 1990s.”
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HARVARD BUSINESS REVIEW | “Business needs to create shared value,” HBR explains. But shared value is not about personal values, nor is it about sharing through redistribution the value that companies have created. It is about expanding the pool of economic and social value; recognizing that societal needs, not just conventional economic needs, define markets. Shared value creation focuses on identifying and expanding the connections between societal and economic progress. Shared value allows business to meet customer and societies’ demands, while preserving the societal and ecological environments that allow them to flourish.
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