Before it had been considered that true leaders (especially business ones) never made mistakes. But things have been changed. Leaders are also humans and it is human to err and make mistakes. All big companies have a collection of mistakes to boast of. Here is the vivid example of it. In 1986 General Electric under Jack Welch’s leadership had acquired 80% of Kidder Peabody Company for US$ 600mln. This mistake cost them US$ 1,2 bln.

Jack Welch commented: “I rewarded people for their mistakes if they failed in an attempt to make changes. The main thing here is not to be inactive and afraid of making mistakes. I keep saying to people that if your boss managed to buy Kidder Peabody and goofed up all business than you may do the same. This saying appeared on the front-page of The Wall Street Journal nineteen times. So, if a boss is able to do it and overcome the consequences than you have a free hand. Any way, you are not likely to do anything worse than I have done.”

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