The Resilience Of Failure Is The Key To Success

What comes into our mind when we think of the word “Resilience”? Is it strength? Is it power? Resilience encompasses all these qualities describing the perseverance of an individual or organization that bends under pressure and failure bounce back up. “Failure”, the word that has negative and disappointment connotation associated with it, is inevitable that all of us encounters failure at some point of time in life. Although the society encourages that failure is the key to success and to embrace failure as a milestone to success, it may not necessarily be so.

Putting it into Singapore’s context, there is no area for them to culture the quality of resilience. Although the current society do not openly condemn failure, there’s this mindset in Asians that failures hurts their ego or brings about shame when failed. Coupled with

We are currently living in an era of risk and uncertainty. With the increasing uncertainty, many variable arises such as where one industry ends and another begins (Reeves & Deimler ,2011). We would have to constantly upgrade our skill sets and knowledge in order to gain competitive advantage over others. In addition, government are also pushing out initiatives such as SkillsFuture that equips us with additional skill, signaling a rise in need for diversity in qualifications for skills and aptitude. (Ong, 2016)

In this ever-changing world full of uncertain obstacles and disruptive innovation by competitors, resilience can also be exhibited in the context of business and organizations which helps them remain competitive. In the 21st century, businesses have to break free from their traditional models and create new innovative capabilities to get a grasp of the shifting change in the world. Successful business startups can teach us values and ways that allowed them to strive in in competitive