Failure is often a dirty word, particularly in the carmaking biz. To Honda, however, failure is a catalyst for improvement and something it embraces in its corporate philosophy.

Whether it’s an engine that eats itself at 15,000rpm, a lapse of judgement that costs the company money or a colour palette  that doesn’t sell, failures are seen by Honda as the ingredients for success.

The Japanese automaker has produced the following video to explain why, and you can check it out after the jump.

Featuring testimony from corporate executives, race team members, engineers, product planners and Honda’s own Danica Patrick, the video (part of Honda’s ongoing “Dream The Impossible” documentary series) is an interesting insight to a mentality that - on the face of it - runs contrary to common thinking.

Honda also released a similar video back in 2007 (below), which illustrates that even back in Honda’s formative years in the 1950s, the concept of failure being a good thing was already a part of Honda’s credo.