When a $10 million mistake gets you promoted…

March 6, 2012Post by Laura Humphreys

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I love the famous story about IBM story from the 1960s.  An executive at the company made a decision that ended up losing the company $10 million.  He was summoned to the office of formidable CEO, Tom Watson.  As he cowered, Watson asked, “Do you know why I’ve asked you here?”  The executive replied, “I assume I’m here so you can fire me”.  Watson looked surprised.  “Fire you?” he shouted, “Fire you?  Of course I’m not going to fire you. I’ve just spent $10 million educating you!”