How to turn a mistake into business growth
Managing errors with a clear protocol and corporate culture helps minimise losses and foster innovation
by Luca Brambilla*
In a professional world obsessed with perfection, error is not an exception but a daily, unavoidable constant. During a typical day, a professional makes thousands of decisions and, statistically, is bound to fail some of them. Several studies have tried to quantify the 'economic value' of error, painting a clear picture: mistakes cost a lot of money. Fortune Global 500 companies alone lose around $322 billion a year through human error.
The key is not to dodge error at all costs, nor even to demonise it, but to turn it into a learning lever. On the other hand, if it is true that 'only those who do make mistakes', the real failure is not the mistake itself, but not trying at all. And if eliminating mistakes is impossible, managing them through a rigorous protocol is the strategy to make them evolve into cultural growth.
The six roots of error
Understanding the origin of errors is the first step to limiting them. In most cases they arise from the intertwining of several factors that can be divided into six categories.
1. Emotionality and attention. Stress, anxiety or distraction impair lucidity and memory. Overconfidence can also lower the threshold of control.
2. Poor processes. Unclear organisational procedures or poor time management increase the incidence of errors. In this respect, the introduction of matrices and checklists is as simple as it is effective. A 2019 study showed how the adoption during surgery of a checklist created by the World Health Organisation led to a 40% reduction in deaths in Scotland.

