This study analyzes the outcomes of fourteen strategic failures in a very large European telecommunication firm. The study asks what the company learned from these failures. Does learning from failure differ from learning from success? How does the learning from large failures differ from...

`Philippe Baumard has observed that strategic success seems to lie more in top managers' ability to use tacit knowledge than in their gaining or updating explicit knowledge' - William H Starbuck, New York University. `This important new book effectively illustrates how, in conditions of...