“Disney Lesson 4: Encourage failure” by Michael Eisner
Michael Eisner spoke to a group of Toronto businessmen about his 21 years at Disney and how he changes a $7 billion revenue into a $20 billion one.
He had a couple of “Disney” lessons to spill: Here his lesson on Failure
DISNEY LESSON #4: Encourage failure
“Failure is not a corporate death sentence,” he says, “and punishing failure leads to mediocrity. If people are afraid to take risks, you risk being bland and mediocre.”
The Pirates of the Caribbean is an example of Disney’s willingness to take risks. Many thought it was doomed failure. It was extremely expensive to produce; it was based on a theme park ride; many pirate films before it had failed miserably; and the film’s star, Johnny Depp, was known to be not particularly endearing at movie openings. “Without a tolerance for failure,” says Disney, “the movie would not have been made.” Pirates has grossed an estimated US$653 million worldwide; it’s the 22nd highest-grossing movie in the United States, and it went on to receive five Academy Award nominations.
You can find the other lessons here