As an intrapreneur specializing in management, marketing, sales, and development, I face the challenge of analyzing and managing significant losses from business failures. I believe that a failure, although painful and costly, can provide unique perspectives for innovation and growth.
From Loss to Opportunity The first step in transforming a failure is a deep understanding of its causes. Detailed analysis shows how the neglect of digital transformation (for example) and the inability to innovate in the shopping experience have led to colossal losses and, ultimately, to bankruptcy. I give this benchmark because it is the most common and underscores the importance of adaptability and adopting technology in business strategies.
Adaptability and Innovation A crucial aspect in preventing failures is adaptability. Companies like Nokia and Kodak have suffered massive losses due to their lack of adaptability to the changing market and new technologies. As intrapreneurs, we must promote a culture that not only accepts change but anticipates it. Implementing regular brainstorming sessions and facilitating an environment open to feedback can help identify opportunities early and avoid potential pitfalls.
Developing a ‘Controlled Offense’ Mindset Controlled offense is a concept where companies take calculated risks to innovate. Google, for example, implemented the famous “20% time” policy, allowing employees to work on personal projects that could add value to the company. This strategy led to the development of successful products like Gmail. In an uncertain business environment, the courage to experiment can turn a potential failure into a tremendous opportunity.
Communication and Transparency Major losses can also be mitigated through effective communication. Transparency in communication with stakeholders/owners helps manage expectations, build trust, and quickly shift towards new technologies and/or SMART solutions—regaining company trust and stabilizing financially.
Lessons and Resilience I believe that any discussion of major failures must include a focus on the lessons learned and the development of resilience. Learning from mistakes and applying these lessons in practice can prevent history from repeating itself. Post-mortem analysis of failures should be standard practice, turning each mistake into a step towards success.
Business failures, although unwanted, offer valuable opportunities for growth and innovation. By approaching these situations with an open and proactive mindset, we can turn major losses into catalysts for development. The responsibility is to lead change, continuously innovate, and ensure that our organizations not only survive but thrive in the ever-evolving business landscape.
Marian Gavrilescu – intrapreneur
UK
IT
ES
DE
FR
RO
PT
HU
