From the troubles at MySpace to Kmart's bankruptcy, there's a lot to learn from these business mistakes.
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People learn best from failure. It drives lessons home like nothing else.
The paradox is that in business, failure can be extremely costly. A new book from Laurence Weinzimmer and Jim McConoughey, "The Wisdom of Failure," shows that it's possible to learn the lessons of the greatest business failures without having to go through them yourself.
The authors looked through some of the great failures of the past, surveyed hundreds of executives, and talked to industry leaders. We've broken out some of the key tips.
Thanks to the publisher for allowing us to feature the book.
* All dollar amounts in USD.
Have your say
Should new wireless companies Mobilicity, Wind Mobile and Public Mobile be allowed to fail?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- 56 %Yes, the market will decide if they are competitive enough to survive.
2,439 votes - 35 %No, the playing field in the wireless market is not level. The government should help these companies.
1,526 votes - 9 %I don't know.
415 votes
Total Responses: 4,380
Not scientifically valid. Results are updated every minute.
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