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Management article
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Reference no. 9B09TF03
Published by: Ivey Publishing
Published in: "Ivey Business Journal", 2009
Length: 10 pages

Abstract

''If at first you don''t succeed, give up,'' is the road less travelled for leaders who continue to spend money on an acquisition they made - even though the acquisition is clearly not working out. But why, as this author asks, don''t we actually strive to create an organizational climate that makes admitting and learning from mistakes as valued as persistence and perseverance? In this article, he describes four steps that can make it easy for leaders to cut their losses and save face.

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Abstract

''If at first you don''t succeed, give up,'' is the road less travelled for leaders who continue to spend money on an acquisition they made - even though the acquisition is clearly not working out. But why, as this author asks, don''t we actually strive to create an organizational climate that makes admitting and learning from mistakes as valued as persistence and perseverance? In this article, he describes four steps that can make it easy for leaders to cut their losses and save face.

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