What is failure?

Event versus process

Among the many polarizations relating to the concept of failure, it is possible to argue
that there is no failure until the entrepreneur stops trying, for example because he
perceives the future gains lower than the effort of staying in business (Gilad, Kaish, &
Loebl, 1985). Or, it can be argued that the business process is a continuous failure
based on a cycle of trial and error (Stokes & Blackburn, 2002). Similarly, failure may
be seen as a discrete event of discontinuance or bankruptcy (Peat, 2007) – or, as a
process leading to any undesired business outcome with varying degree of
What is failure? Event versus process
Among the many polarizations relating to the concept of failure, it is possible to argue
that there is no failure until the entrepreneur stops trying, for example because he
perceives the future gains lower than the effort of staying in business (Gilad, Kaish, &
Loebl, 1985). Or, it can be argued that the business process is a continuous failure
based on a cycle of trial and error (Stokes & Blackburn, 2002). Similarly, failure may
be seen as a discrete event of discontinuance or bankruptcy (Peat, 2007) – or, as a
process leading to any undesired business outcome with varying degree of
What is failure? Event versus process
Among the many polarizations relating to the concept of failure, it is possible to argue
that there is no failure until the entrepreneur stops trying, for example because he
perceives the future gains lower than the effort of staying in business (Gilad, Kaish, &
Loebl, 1985). Or, it can be argued that the business process is a continuous failure
based on a cycle of trial and error (Stokes & Blackburn, 2002). Similarly, failure may
be seen as a discrete event of discontinuance or bankruptcy (Peat, 2007) – or, as a
process leading to any undesired business outcome with varying degree of
Among the many polarizations relating to the concept of failure, it is possible to argue that there
is no failure until the entrepreneur stops trying, for example because he perceives the future
gains lower than the effort of staying in business (Gilad, Kaish, & Loebl, 1985). Or, it can be
argued that the business process is a continuous failure based on a cycle of trial and error
(Stokes & Blackburn, 2002). Similarly, failure may be seen as a discrete event of discontinuance
or bankruptcy (Peat, 2007) – or, as a process leading to any undesired business outcome with
varying degree of definitiveness (Ooghe & Prijcker, 2008). By combining these dichotomies, we
can even argue that bankruptcy does not indicate failure; rather, it is possible that ceasing the
business is indeed a rational choice determined by learning gains (Coelho, 2005), opportunity
cost of remaining in the business as oppose to closing it (Blum, 1974), or seizing a more
lucrative business opportunity (Theng & Boon, 1996). The specific definition of failure carries
theoretical and practical importance: if we argue that bankruptcy is a sign of failure we must also
concur that bankruptcy statistics are the best way of researching failure. However, it is easy to
see that a) bankruptcies do not include all failed business ventures, e.g. incorporated startup
projects, and b) not all discontinuances are a failure. Such is the case when there is no loss to
creditors (Lussier, 1996), when the entrepreneur makes a profitable exit, or the company
merges with another one. As the organizational entity ceases to exist, it is classified as a
discontinued business, whereas the stakeholders consider the venture as a success. Spin-offs
by serial entrepreneurs are desirable contingencies of discontinuing an organization in its extant
form through an exit, and their number can be used to measure the learning gains of failure
(Feeser & Willard, 1989).

1. What are the things that have you learned from the pre-quel session? Why is the study
of understanding the self-important?

I learned a lot actually, from the importance of purpose up to facing our challenges or tests
in life. Finding your purpose helps you to do things that will add meaning to your life and
knowing the purpose of a particular object, a person or circumstances, you will learn to
appreciate it and you will see the true value in it. One thing we should do is to start working from
inside to outside and prioritize the question “why” before proceeding to the question “what,”
know the purpose first before you do something. Also knowing your inner self is more important
than knowing your physical characteristics. Having a vision will give you a sense of purpose,
passion, motivation, direction and value. More challenges and trials are coming your way if you
have a higher vision and it will define you as a person, it will bring value to yourself and will turn
our dreams into reality, Sir JP once said “ang isang bagay na sinusubukan ay tumatagal.”
Studying this subject will lead us to really understand ourselves and to be able to
understand other people, because if you know yourself you can control your own destiny.
Understand yourself because everything that we need is within us. “Knowing who you are will
always be more important than others knowing who you are” –Jeremy Divinity

2. How were you able to relate from the learning that you have in the pre-quel session?
What experiences hindered a person (or you) in understanding oneself? What were your
thoughts and feelings from the topic?

I am a really emotional person, I don’t know if I’m fragile or I just pretended to be a strong
person. I always feel confused, it can be on my emotions or my feelings to other people, and it’s
just I always feel confused at everything. I am a very complicated person, I can’t express my
feelings to other people whenever I feel sad and sometimes I really don’t know the reason why I
felt that. One thing I know is that I always think and understand the feelings of other people
more than what I feel, it’s a wrong move but I can’t help it and it’s actually something that I really
wanted to work on. I want to focus on myself not on other people.
Lately I’m having a hard time to find my happiness but I always remind myself that it’s
okay to be weak sometimes because I know it will lead me to be a better person and I just can’t
help to feel sad even on the smallest thing. It breaks me into pieces.
I don’t know where my fear and my emotions will take me but I always choose to be
okay, I keep looking, and I will always keep looking to find my true self, to find my purpose and
to find my happiness, it’s hard and it’s a long way but I hope I make a little progress. I just want
to share some lines from the song “Purpose“ by Justin Bieber, “you know you’re trying to be the
best you can be, but that’s all you can do” this message for me is that don’t be too hard on
yourself because you do what you really can and you are the best version of yourself.

3. How can a person learn from his trials and challenges in life? What should you when
those trials arose again?
` God gave us trials not just to test us but he gave it because he knows that we can
surpass every challenges and because he knows that those trials will make us a stronger
person and it will draw us closer to him.
Every people experienced trials in life, its part of our life actually. Life hasn’t been
without its challenges.
Bonus: How can you motivate yourself to study Understanding Yourself as a subject?
Personally I don’t really know fully my purpose here, all I know is that I need to live my life
because I’m here and because God sent me here. So I really wanted to study this subject
because I want to understand my true self, to really know myself, I really wanted to know my
purpose, my real feelings, what I actually want in life and also my vision.