Management Tip of the Day: Forgive but don't forget

Fri Nov 5, 2010 12:18pm EDT
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BOSTON (Reuters) - The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and ( Any opinions expressed are not endorsed by Reuters.

"It is common wisdom that failure is inevitable, especially when innovating. If you want people to take risks and try new things, failure must be an option. But few organizations have actually created cultures that accept gaffes.

To show your support for failure, encourage your people to make the most of their blunders. Try adopting a 'forgive but not forget' approach. Forgive honest mistakes, but make sure employees learn from past failures so they don't repeat them."

- Today's management tip was adapted from "Forgive and Remember: How a Good Boss Responds to Mistakes" by Robert I. Sutton.

<p>A trader covers his face before the closing bell at the New York Stock Exchange May 14, 2010. REUTERS/Jessica Rinaldi</p>