Failures are part of the learning process. You fail, you understand why you failed, and then you build on the lessons. Paying attention to failure, celebrating failures, or learning from failures have become very trendy concepts if you read management blogs and you catch them on Twitter.Edison said ”I failed my way to success”. As a scholar, I could not agree more. As a practitioner with over 20 years of business experience, I might tone down the messaging a bit. Some leaders might tell you that it is ok to fail but in reality they are quick at following up by saying “make sure you do not make the same mistake twice”. Failing might be a popular topic but in reality failing in the open and recognizing it widely is not yet fully accepted in most organizations. We are a long way from openly celebrating failures and giving people who took that risk a clean shot again. No all failures are created equal though. Failing in a R&D lab is perfectly acceptable. To develop a new technology, a scientist will have to formulate, experiment and create several prototypes. Most of them will not succeed supporting the perseverance message from Edison. Other failures, especially in the strategy or business model discipline, can have cataclysmic consequences for businesses. I recommend that you read more about the JC Penney recent strategy blunder. The company is still on the brink of collapse and might not survive in the long run. The lessons for JC Penney, Kodak, Polaroid and other failed strategy, are numerous for shareholders. Will they learn from these major failures? I doubt very much they will celebrate these failures. I doubt Microsoft would celebrate the failures of Vista, Windows 7, Windows 8, and the Surface. It is clear that they are not learning from failures and they are staying the course in their unsuccessful innovation strategy. My strong recommendation is to avoid failures in the first place by doing the proper homework and by adopting modern leadership and management practices. In this context, learning from failure is possible. Mindful organizations learn from failures. They also pay attention to details and strive to avoid them.