Mgt 405 Homework Week 2

1. What perceptual problems do managers need to overcome with failures How can these perceptual problems be minimized Managers in todays world have been indoctrinated that failure is bad. While failure is indeed not success in the general term as its defined, success can be found in the learning process that can take place in the aftermath. The perception that an idea is to risky is one area that managers need to overcome. Another is the perception that the consequences of failure will be too much to bear. C level executives would do well to encourage their managers to learn from their mistakes. Training in Composite Risk Management would teach managers to minimize risk and identify problems early and hopefully, relatively inexpensively. Business could also borrow a technique from the military. During training exercises and after combat operations the Military employs what is termed an After Action Review or AAR. This gives Soldiers, from commanders down to Privates, an ability to identify mistakes and failures and to learn from them. When the Global War on Terror started, the Army started a website called the Center for Army Lessons Learned, or the CALL website. This is a secure website where any