‘It was an absolute Fyre Festival.’ Before Miami contestants were enlisted to save the world, another group signed up in Montreal. But where were the cameras? Well, they were with the locals.
The Fyre Festival came and went, bringing with it a flood of negative coverage. Among the most notable criticisms was the fact that the festival was cancelled due to overspending by its organizers. In the wake of the criticism, organizers are attempting to correct what they believe to be their mistake. If it turns out to be a mistake, they are hopeful it is an honest mistake rather than their fault.
What is an honest mistake?
Let’s say an organization has spent $10,000,000 for a project. They have hired a company to do the project. There are two companies doing the project and they are competing with each other. When they finish the project, they look at the project and they say it is worth $12,000,000.
Now, after looking at the project, one company starts to say that they would be able to make more money with less cost, say, $9,000,000.
A company says they will make $1,000,000 for every $1,000,000 less they have to pay, and another company says that they will make $1,000,000 for every $1,000,000 more they have to pay and so it continues like this until it is a total disaster.
Let’s say that the two companies are both equally wrong in their estimates.
Why would it be an actual mistake?
A mistake is an honest mistake, a mistake that occurred, rather than a decision made in a greedy, selfish moment.
An honest mistake occurs when the decision was made after all the facts were considered.
“A real mistake may not be as obvious as it seems to others,” said Professor Robert Stinnett in his book The Honest Mistakes. “It may be hidden from the eyes of the rest of the world because it took place in a meeting with only a few people at a time. It may have happened when you had not spent much time in the situation and were not even aware of it.”
Mistakes are common in business and some mistakes are as bad as others. The Fyre Festival may have been an honest