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Failing Right

Fall, Just Get up later

Scott Anthony made a good point about the importance of allowing failure to take place and brought up the case of Singapore. Perhaps it is not so much about Singapore but the asian societies in general that faces this problem - zombie banks in Japan, some inefficient state-owned firms in China and more. There's a matter of 'face' and perhaps the 'label' of being a failure. And at times, it's about belief in their ideas (just like in the case cited by Scott in Singapore) - perhaps it is the ownership of the ideas that helps these talents strive hard and be motivated. Still, we must acknowledge the importance of allowing failure to occur and accept it. I believe it's changing and as the social atmosphere towards failure improves, Singapore would embrace failure as part of the process of achieving success.