How the Mighty Fall

How the Mighty Fall

And Why Some Companies Never Give in

Book - 2009
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Baker & Taylor
Discusses signs pointing toward the decline of a business, how far the decline can proceed before failure becomes inevitable, and crucial steps companies can take to reverse course.

HARPERCOLL

Decline can be avoided.

Decline can be detected.

Decline can be reversed.

Amidst the desolate landscape of fallen great companies, Jim Collins began to wonder: Howdo the mighty fall? Can decline be detected early and avoided? How far can a company fall before the path toward doom becomes inevitable and unshakable? How can companies reverse course?

In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Collins' research project—more than four years in duration—uncovered five step-wise stages of decline:

Stage 1: Hubris Born of Success

Stage 2: Undisciplined Pursuit of More

Stage 3: Denial of Risk and Peril

Stage 4: Grasping for Salvation

Stage 5: Capitulation to Irrelevance or Death

By understanding these stages of decline, leaders can substantially reduce their chances of falling all the way to the bottom.

Great companies can stumble, badly, and recover.

Every institution, no matter how great, is vulnerable to decline. There is no law of nature that the most powerful will inevitably remain at the top. Anyone can fall and most eventually do. But, as Collins' research emphasizes, some companies do indeed recover—in some cases, coming back even stronger—even after having crashed into the depths of Stage 4.

Decline, it turns out, is largely self-inflicted, and the path to recovery lies largely within our own hands. We are not imprisoned by our circumstances, our history, or even our staggering defeats along the way. As long as we never get entirely knocked out of the game, hope always remains. The mighty can fall, but they can often rise again.



Publisher: New York : Collins Business ; distr. by HarperCollins Publ., c2009
ISBN: 9780977326419
0977326411
Characteristics: xiv, 222 p. ; 21 cm

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cdimov
Feb 16, 2013

Jim Collins does a great job taking a look at corporate failure, to learn something about corporate success. Exceptionally clever approach, and an important angle given the disasters of 2008.

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