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Perseverance doesn’t always pay off for companies – sometimes it’s better to ‘fail fast’

  • Written by Scott Friend, Professor and Schaefer Endowed Chair in Marketing, University of Dayton
Perseverance doesn’t always pay off for companies – sometimes it’s better to ‘fail fast’Slack's embrace of a ‘fail fast’ approach helped it become the world's dominant intra-office messaging app. AP Photo/Kiichiro Sato

Across the business world, companies often double down on struggling ideas, retreating only after clear evidence shows they won’t work.

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