CLEAR+COPYEDITED+Shaping+Success.pdf (472.78 kB)
Download file

Shaping success through creative failure: A historical sensemaking analysis of the computerisation of the UK wholesale financial market

Download (472.78 kB)
journal contribution
posted on 23.10.2019, 12:46 by M Gasparin, W Green, C Schinckus
This paper draws on the concept of sensemaking and sensegiving to examine how the failure of a project, TAURUS, influenced the successful development of an innovative security settlement system, CREST, which has shaped the computerisation of the wholesale UK financial industry. We use a historiographic interpretative approach to analyse publicly available documents, via three theoretical constructs that have emerged from combining business history and organisational studies literature. First, we define historical sensegiving as the ability to shape contextually the way others make sense of complex historical situations. Second, we establish the sensemaking of failure, which is the ability to make sense of failure in a historical context. Finally, we find that historical enactment supports the creation of structures and events by bracketing them in a historical context. We coin the term ‘creative failure’ to characterise how failure can be reimagined as a route to creative success through a sensemaking process.

History

Citation

Business History, 2019, https://doi.org/10.1080/00076791.2019.1686819

Author affiliation

/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIES/School of Business

Version

AM (Accepted Manuscript)

Published in

Business History

Publisher

Taylor & Francis (Routledge)

issn

0007-6791

Acceptance date

02/09/2019

Copyright date

2019

Available date

13/05/2021

Notes

The file associated with this record is under embargo until 18 months after publication, in accordance with the publisher's self-archiving policy. The full text may be available through the publisher links provided above.

Language

en