Insights

What we know

  • Errors are everywhere in organizations, regardless of all efforts to prevent them
  • Most dramatic failures follow from errors that are organizational by nature
  • CEOs can effectively manage errors and intercept failure
  • There are a virtuous and a vicious cycles of error management
  • Only errors poorly managed lead to failure
  • Effective strategic error management uncovers strategic opportunities

 

How we know

We build on a unique ongoing research effort by the Baillet Latour chair on error management at Solvay Brussels School of Economics & Management (BS-EM) supported by the Baillet Latour Fund. Published or forthcoming works include (selection):

  • Qualitative studies
    • Volkswagen (the Dieselgate); Société Générale (rogue trading); Fortis (collapse after an acquisition); Wells Fargo (over-selling) — see our teaching cases
    • Qualitative studies with 30+ CEOs and board chairs of leading European firms with over 1.5 m employees
  • In-company interventions: a leading consumer goods multinational (research & advisory); Lufthansa (conference); several mid-size companies (research & advisory)
  • High-level executive-academic symposia: Brussels, 2016; Berlin, 2018 (forthcoming)
  • Academic publications and conferences: Academy of Management (2015-2018), Strategic Management Society (2016-2018)
  • Higher & executive education: a unique course at Solvay BS-EM (100+ students)