From the troubles at MySpace to Kmart's bankruptcy, there's a lot to learn from these business mistakes.
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.
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How many credit cards should one person have?
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- 73 %Just one. Credit cards should only be used for emergency situations.
- As many as you can. Credit cards are a great way to make purchases and get great rewards.
- None. You should never buy anything on credit.
Active investor, Bill Ackman is not happy with P&G under its current CEO Robert McDonald's leadership. The multinational consumer goods company is brin... More Active investor, Bill Ackman is not happy with P&G under its current CEO Robert McDonald's leadership. The multinational consumer goods company is bringing back the former CEO A.G. Lafley to revive the company's dominance in the consumer goods industry. To find out more, we spoke with Jeffrey Sonnenfeld, Senior Associate Dean and Professor, Yale School of Management.
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