Do you think a business should record and document its failures?

[King Belieal]

When it comes to record keeping in business, it is very rare to hear that a business would document and keep records of it's failures in business. Do you think that a business should document every failure that it faces in the running of the business? Why is it necessary?

 

[Suba]

It is indeed rare to hear, a business records and documents and stores their failures because it is confidential and not published except those stated in the financial statement. So it is a must for a business to store all documents, whether failure or success, especially as analysis material, evaluation, so that the same failure does not occur in the future.

 

[Trush Jodie]

A business that records it's failures would definitely grow faster. It can always reference them to ensure that they don't repeat.

 

[eLdavis]

Yee recording their failures we definitely help them as well in terms of learning and growing to be better.

 

[Kera]

Any business that approaches development as a process would always document its failures in development.

 

[Fidelia]

For continuous research and development, a business should keep records of failed experiments. Big companies do that.

 

[Augusta]

Sure, businesses can identify root causes, implement corrective actions, and prevent recurrence, leading to greater efficiency and profitability.