Failophobia

Failophobia is the fear of failure. It's a deeply human desire to be associated with success and to avoid failure. This fear can have a significant impact on innovation and risk-taking within organizations.

In many companies, while the organization as a whole may have a high tolerance for failure, individual employees may not. This is because failure can have a negative impact on an individual's career, even if the company encourages risk-taking.

This can lead to a situation where employees are reluctant to work on new and unproven ideas, preferring to work on established and successful products. This can stifle innovation and make it difficult for companies to stay ahead of the curve.

To combat failophobia, it's important to create a culture where failure is seen as a learning opportunity, not a career-ending event. This means celebrating experimentation, rewarding smart risks (even if they don't pay off), and being transparent about failures.