One moment you’re up, one moment you’re down. Whether they are busi- nesses, sports teams, or organizations, those on winning streaks seem to get all of the advantages — adulation, career opportunities, good deals, and the benefit of the doubt. It’s easy to feel on top of the world as a winner, but once you face setbacks and a losing streak, life becomes a cycle of loss and failure.

Losing once does not make someone a loser, but what is the difference between losing all of the time and keeping the ability to win? It is a ques- tion of confidence, and the conscious sense of accountability, collaboration and inspiration that gives people control over their responses to their cir- cumstances. Presidents, managers, coaches and even individuals have the power to choose how they deal with a loss, and whether they are going to allow it to be the beginning of a trend, or have the confidence to learn how to win next time. By studying winning and losing teams, companies and organizations, Harvard Business School Professor Rosabeth Moss Kanter has found the keys to confidence and the way to find it when it is lost.

This summary presents the new theory and practice of success, and explains why success and failure are not mere episodes but self-perpetuating trajectories.

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