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

Business culture has long embraced grit as a winning value. But modern examples show that companies will do better if they acknowledge mistakes quickly and pivot.

By: Scott Friend, University of Dayton and Kumar Rakesh Ranjan, EDHEC Business School, The Conversation

Outlets: The Conversation

Published: April 27, 2026

Words: 1,301

Last Updated: 3 months ago

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By Scott Friend, University of Dayton and Kumar Rakesh Ranjan, EDHEC Business School

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

A recent spectacular example was Meta’s metaverse push. After the organization invested US$80 billion over several years, it announced changes in March 2026 that all but abandoned its grand strategy.

But many companies are following the opposite approach of quickly …

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