It is the eternal piece of advice to entrepreneurs and innovators, fail fast and often, learn and move on. How actionable is this advice when applied to our business problems? Can we afford to fail fast and fail often, what lessons do we learn and can we bear the cost of continued setbacks until we finally get it right after multiple iterations?
Crisis management is essential in today's business environment. The dynamics of the marketplace, shifts in customer tastes and perceptions, and even the weather all play a significant factor in continuing business operations and maintaining a competitive advantage.