“The upside of failure”

UNIVERISDAD EAN
ADMINISTRACION DE EMPRESAS
GESTION DE PROYECTOS
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MILENA CARDENAS ARIAS – 200710350

CASE 4
“THE UPSIDE OF FAILURE”

1. Whydo you think Jerry Manas says: "Failure is a necessary evil of innovation"?
Because a company must recognize their mistakes and be able to accept that not everything will be a success, and toinnovate is to risk, a product will not always succeed in the market for various reasons, this makes the company to take actions to change and improve to offer its customers what they demand, this meansthat companies must learn to fall and get back up to better things.
2. According to the article, why is it easier for big companies to launch project than for small companies? And what actions dosmall companies take in order to take risk and yet tolerate the risk of failing?
The most important reason is because large companies have sufficient financial capacity to take risks and in case offailure the impact is not very high. In contrast small companies do not have the same capacity and a low failure could cause a major disaster.
However small companies could create projects that arewithin reach and that if something goes wrong, this is tolerable for the company, could also create large projects once a year so you can build and learn, spending time and money failures that occur duringthe project.
3. According to the article, why would a company reward failure?
Because it allows companies to improve their products and services and should have a good team to set goals, reporton the progress of the project and take action for failure this makes a stronger company with its clients.

4. In your own words, provide a brief description of one of the projects that wereawarded at the ceremony and explain what was learned from them.

The kala-azar is a parasitic infection that has affected many people in East Africa, the winning project was the therapeutic Advinus...