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Winning mistakes. (Golden Business Ideas).


Here's an idea that will get some management heads spinning: Create a Mistake of the Month competition.

Huh?

Think of it this way:

What if, instead of punishing pun·ish  
v. pun·ished, pun·ish·ing, pun·ish·es

v.tr.
1. To subject to a penalty for an offense, sin, or fault.

2. To inflict a penalty for (an offense).

3.
 mistakes, you rewarded employees for reporting mistakes that, when uncovered Uncovered may refer to:
  • something "not covered"
  • Uncovered (Sirsy)
 quickly and corrected, provided an illuminating il·lu·mi·nate  
v. il·lu·mi·nat·ed, il·lu·mi·nat·ing, il·lu·mi·nates

v.tr.
1. To provide or brighten with light.

2. To decorate or hang with lights.

3.
 lesson which benefited the company.

Still sound crazy?

Well, look at it this way: If managers punish pun·ish  
v. pun·ished, pun·ish·ing, pun·ish·es

v.tr.
1. To subject to a penalty for an offense, sin, or fault.

2. To inflict a penalty for (an offense).

3.
 mistakes, smart employees would hide them and the company would feel their negative effects for a long time. But if the company encourages each person to acknowledge any mistakes as soon as they're discovered and corrected, the negative financial consequences would be short-lived. "We learn from our mistakes," the old adage goes. So why not issue a reward for the most valuable business lessons learned from such errors.
COPYRIGHT 2003 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Journal of Accountancy
Date:Jul 1, 2003
Words:129
Previous Article:Go for the sweep. (Golden Business Ideas).
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