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The human brain uses failure
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as a way to build new neural pathways.
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So if you take the sense of biology
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and move it into business,
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it should tell companies that after failure
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is a perfect time to learn and to grow.
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(orchestral music)
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Through our purpose work at BrightHouse,
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we have learned that a bad time
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in a company's history can be both a blessing and a curse.
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A curse in that it can bring about pain,
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but a blessing in that it offers an opportunity
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to make change and to create new ways of working.
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I think the natural response of a system when
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it's stressed is to defend and to mitigate damage,
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and of course that's entirely appropriate.
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But a crisis isn't just a temporary thing.
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A crisis normally changes the world
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so there must be an element of recreation and rebirth.
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That's right!
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And this sense of reinvention often lies within the DNA
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of great companies.
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Well it's interesting, Kodak,
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which of course isn't around anymore,
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and Fujifilm were in the same business
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at the same time facing the same challenge,
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namely the birth of
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and the rise of digital photography.
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One succeeded, one didn't.
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And the difference is on this creative dimension,
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the embracing of new ways of doing things
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and the investment in new pillars of growth
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to iterate towards a better future.
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Yes, they were able to find that reinvention
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that lied within their DNA.
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But over time, it can be hard to maintain the energy
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to continue to pull it out of the system.
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Yes, I think it's harder and harder
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for a large company to maintain this capacity
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for reinvention over time.
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I think it's also hard
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for successful companies to walk away
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from the historical recipe for success
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and embrace something untried.
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And also it's especially hard to do that
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during the crisis when one's natural instinct
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is to look inwards and stick to the knitting.
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(bright music)