The gift of failure

The Joyous podcast, hosted by Mike Carden, features conversations with some of the world’s most interesting management thinkers. 

In this episode Carden speaks with Amy Edmondson, the Novartis professor of leadership and management at the Harvard Business School. 

She is known for coining the term "psychological safety" and was named the number one management thinker in the world by Thinkers 50 in 2021. In the podcast, she discusses her new book, "Right Kind of Wrong: The Science of Failing Well."

Here’s a ChatGPT precis of the transcript for this week’s episode or listen here.

Edmondson begins by discussing her journey into her academia, which was motivated by a desire to make a positive impact in a challenging world. She started with engineering but shifted towards social science, recognising that people are the most complex element in helping society grow and function together effectively. Her path led her to consulting and then graduate school, and she has been on the faculty at Harvard Business School for over 25 years.

Psychological safety is a central concept in Edmondson's work. It's the idea that people should feel safe to express themselves, offer ideas, admit mistakes, and be candid in the workplace. In a world where modern workplaces rely on people speaking up, creating an environment that supports psychological safety is crucial. However, it goes against our natural inclinations to protect ourselves and avoid risk.

Edmondson clarifies that psychological safety is distinct from other concepts, such as job security or belonging. Belonging is the sense of being a legitimate member of a group, while psychological safety is the belief that you can express yourself without fear of consequences.

Her new book, "Right Kind of Wrong," explores the different types of failure and how not all failures are the same. Intelligent failures, which meet specific criteria, are valuable and necessary for progress. They occur when you explore new territory, pursue a goal, do your homework, and keep the failure as small as possible.

Edmondson emphasises that failure is a vital part of innovation and learning, especially in domains like sports and science. It's essential to value the knowledge gained from failures and use it to improve future attempts. Thriving as fallible human beings means embracing our mistakes, developing resilience, mastering the art of a good apology, and not being afraid to take risks.

The process of failing as a team is often more rewarding than failing individually, as it fosters collaboration and shared responsibility. Edmondson encourages a collective approach to handling failure, recognising that when facing challenges together, it's more tolerable and enjoyable.

In the end, Edmondson believes that failure can be a gift. It provides clarity about which skills need improvement and insights into our true passions, helping individuals align their efforts with what they genuinely care about.

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Mike Carden brings extensive insider knowledge to the startup conversation. In 2006, he founded Sonar6, a SaaS tool for human resources, which later sold for $US14 million to the US company Cornerstone Ondemand in 2012. Additionally, he co-founded Joyous, an Auckland-based software tech company in 2017. 

Carden is regarded as an expert in Software as a Service business models and technology marketing, holding board and advisory board roles in various technology companies ranging from investor-led early stage through to established public companies.

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