Upper manager introduces "innovative" new idea against subordinate's advice, it fails spectacularly: 'He doesn't want to admit he made a mistake'

Nobody likes any idea as much as they like their own. And nobody likes their own ideas more than upper management. They'll pick a course, no matter how ill-informed or ill-advised that course is, and steer into it full steam ahead. And, yet, still, there is something admirable, at least, in that kind of confidence; no matter how foolhardy it might sometimes be, that attitude is probably how they got where they are in the first place—that or it's their parents' company.

Still, sometimes, as a business, you have to venture out into new and uncharted territories… be it a new product or service or trying to market your offerings to a new audience. You're never guaranteed to see returns, but making informed attempts will hopefully yield some interesting results, even if it's a slow burn. Keep doing what you're doing for long enough, and your current business will stagnate if you never branch out. 

Regardless of whether or not these new ventures were a good idea or not, it's always frustrating for the staff who warned against them in the first place when they're suddenly swept under the rug and never mentioned again without acknowledgment of their apparent failure after being forced down everyone's throats for so long.