The Wisdom of Failure: How to Learn the Tough Leadership Lessons Without Paying the Price

239 Pages·2012·1.22 MB·English

by  Laurence G. Weinzimmer

Table of Contents
Cover
Praise for The Wisdom of Failure
Title page
Copyright page
ONE: Flawless Leadership
TWO LEADERS, TWO STORIES
GREAT LEADERSHIP: SHAPED BY OPPOSING FORCES
THE FAILURE PARADOX
A PERFECT STORM: EMPIRICAL RESEARCH,
UNFORESEEN TIMING, AND UNTOLD STORIES
A TAXONOMY OF LEADERSHIP MISTAKES
NEW DISCOVERIES
THE REST OF THE STORY
PART ONE: Unbalanced Orchestration
TWO: Seduced by Yes
IRRATIONAL GREED: CHASING PENNIES WITH
DOLLARS
ESCALATION OF COMMITMENT: KNOWING WHEN TO
SAY WHEN
BEING ALL THINGS TO ALL PEOPLE
JUST SAY NO: AVOIDING THE MISTAKE OF YES
THREE: Businesses You Have No Business Being In
BOXES AND STRATEGIC DIRECTION
THE LURE OF THE EXCITING AND THE NEW
LETTING COMPETITORS DEFINE THE BOX
THINKING INSIDE THE BOX
INSIDE-THE-BOX LEADERS
THE POWER OF COMMON SENSE
FOUR: Entrenched in Efficiency
UNDERSTANDING EFFECTIVENESS
WHY EFFECTIVENESS TRUMPS EFFICIENCY
HOW LEADERS GET TRAPPED IN AN EFFICIENCY MIND-
SET
SHOOTING STARS
AVOIDING THE EFFICIENCIES TRAP
PART TWO: Drama Management
FIVE: The Playground in the Workplace
THE OLD-SCHOOL MANAGER
THE CONSEQUENCES OF OLD-SCHOOL MANAGEMENT
WHY GOOD PEOPLE BECOME OLD-SCHOOL LEADERS
WHY GOOD PEOPLE TOLERATE OLD-SCHOOL
MANAGERS
ENDING OLD-SCHOOL MANAGEMENT AND REPAIRING
THE DAMAGE
IF THE MILITARY CAN DO IT, SO CAN YOU
SIX: When Utopia Becomes Dystopia
WHY WE WANT UTOPIA— AND WHY WE SHOULDN’T
AVOIDING DYSFUNCTIONAL HARMONY WITHOUT
BEING A BULLY
SEVEN: The Battle Within
DISTRACTION SOUP: THE FORMS OF DISTRACTED
PURPOSE
RESCUING YOUR TEAM FROM DISTRACTED PURPOSE
PART THREE: Personality Issues
EIGHT: Standing in the Way
THE WHAT AND WHY OF HOARDING
CONSEQUENCES OF HOARDING
ARE YOU A HOARDER?
STOP MANAGING AND START LEADING: OVERCOMING
THE URGE TO HOARD
NINE: Living Outside the Storm
MISFIT AND BURNOUT LEADERS
CELEBRITY LEADERS
AVOIDING THE MISTAKES OF DISENGAGEMENT
TEN: “Does This Doorframe Make My Head Look Big?”
THE ALCHEMY OF THE SELF-ABSORBED LEADER
THE PERILS OF THE SELF-ABSORBED LEADER
THE SILENT VICTIMS OF SELF-ABSORBED LEADERS
SELF-CONFIDENCE VERSUS SELF-ABSORPTION
KNOW THE SIGNS OF SELF-ABSORBED LEADERSHIP
STEERING CLEAR OF SELF-ABSORBED LEADERSHIP
A FINAL CAVEAT
ACKNOWLEDGMENTS
INDEX
ABOUT THE AUTHORS
Introducing the Wisdom of Failure Keynote
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Tools on the Web
Praise for The Wisdom of Failure “The
Wisdom of Failure is an epiphany. From the
very first chapter, Weinzimmer and
McConoughey shift the reader’s focus
beyond short-term accolades and trade-offs
to a horizon where a leader can find true
success and accomplishment. In their well-
researched book, the authors give leaders
the tough love they need to learn from their
mistakes before their mistakes become
costly. A must-read for aspiring, new, and
seasoned leaders.”
—Jennifer Robin, Ph.D., author, The Great Workplace “The importance of
understanding failure’s lessons cannot be overstated in today’s fast-moving
business environment, and The Wisdom of Failure offers a smart research-based
guide to navigating these tough leadership lessons. You’ll be engaged from the
very first page.”
—Amy C. Edmondson, Novartis Professor of Leadership and Management,
Harvard Business School; author, Teaming “The Wisdom of Failure allows you
to benefit from the inevitable growth that comes from failure without having to
experience it first-hand. An invaluable read for anyone striving to move
themselves and their business forward.”
—Dan Schawbel, founder, Millennial Branding; author, Me 2.0
“Never before has learning from failure been more important—to innovation,
to learning, to strategy under uncertainty, and to the development of the next
generation of leaders. Ironically, in many organizations the attitude towards
failure virtually guarantees not only that people won’t learn its valuable
lessons but that they will also suffer the brunt of its downsides. This well-
researched and accessible book is a timely summary of how failure can be
useful, even essential, and serves as a welcome reminder of the importance of
‘failing forward.’ ”
—Rita Gunther McGrath, strategy and innovation advisor, Columbia Business
School Professor; coauthor, Discovery-Driven Growth “Having worked with
hundreds of emerging companies, I have seen failure in all flavors! Finally we
have, in one well-written book, the lessons learned from such experiences. The
Wisdom of Failure is an instant business classic destined for the tablets and
shelves of our innovation economy’s leaders.”
—Larry Weber, chairman and CEO, W2 Group “Leaders become great only
when they have overcome adversity. We learn how to grow from our setbacks.
Weinzimmer and McConoughey have created a simple framework and practical
methodology to develop an organizational culture that encourages productive
innovation. The Wisdom of Failure provides us with the research, case studies,
and tools to transform our failures into our biggest successes.”
—Jeff DeGraff, professor, Ross School of Business, University of Michigan;
author, Innovation You, Leading Innovation, and Creativity at Work “Every truly
great leader has experienced failure and (more important) learned from it.
Organizations that support ‘smart’ failure are more innovative, adaptable,
resilient, and profitable. In The Wisdom of Failure, Weinzimmer and
McConoughey have distilled the key factors that are most likely to push every
one of us off track, and outlined the practices that leaders, teams, and entire
organizations can use to navigate around those hazards. If you aren’t pushing
yourself to the point where failure is a possibility, you are not coming close to
your potential as a leader. But in today’s times, where acceleration is the new
normal, you’ll need this book as your guide.”
—Eric McNulty, editor, Harvard School of Public Health; coauthor, You’re It!
Lessons from Crisis Meta-Leadership

Cover design: Adrian Morgan
Cover art: Shutterstock
Copyright © 2013 by Laurence G. Weinzimmer and Jim McConoughey. All
rights reserved.
Published by JosseyBass