Coke Rewards Failure

But not failure to learn.  We did not do enough to understand and document precisely why we failed.

Coke CEO: Why we have an award for projects that fail   By Catherine Clifford

Coca-Cola was invented in 1886 by Dr. John S. Pemberton in Atlanta, Georgia. That year, sales of the drink totaled $50. In fiscal year 2018, The Coca-Cola Company reported $31.9 billion in sales.

Today, the company has more than 700,000 employees and over 500 beverage brands — from Fanta and Minute Maid to Honest Tea and Odwalla to SmartWater and Dasani — sold in 200 countries.

When a company becomes to be so massive, it can be hard to keep the creativity and innovation that helped it grow in the first place. And that’s largely because with so much success people begin to fear failure, according to Coca-Cola Co. CEO James Quincey.

“Fear of failure is often the biggest hurdle for innovation in large organizations,” Quincey said in a recent Harvard Business Review Analytic Services (HBRAS) report commissioned by Mastercard.  ... .... "