Project Description

book cover Why Companies FailSubtitle: The 10 Big Reasons Businesses Crumble, and How to Keep Yours Strong and Solid

By: Mark Ingebretsen


Stage one:

  • Outrageous arrogance born of success that eventually leads to decline.
  •  Better to creat ur own future
  • Don’t turn attention to the next big thing. Focus on core business.
  • Don’t lose passion for core business.
  • Successful people assume their success was a result of luck,bc these companies are always trying to improve.
  • Success will continue if a person or company seeks to learn as much as possible.

Stage two:

  • Big acquisitions can destroy strategy and momentum.
  • Lack of innovation is not a recipe for decline. Innovation does not guarantee success.
  • You’d must make sure to hire the right people who are self motivated to do all the right things to help the company achieve what the company needs.
  • Need a good succession plan in order to be successful over the long term.

Stage three

  • Denial of risk
  • Don’t blow holes below the water line. Could u hande the downside?
  • Mgmt should have productive paranoia when financial results start to deteriorate.
  • Teams on the way down shield mgmt from reality.
  • Leaders never criticize ppl form bringing up criticism. They also use a Socratic method.
  • Julius Caesar made suggestions that galvanized people to act in the way he wanted.
  • Teams on the way up credit other people for success and argue to improve answers to support the overall cause.
  • Doing a startup is less risky than staying with a company in denial.

Stage four: lurking in different direction to jump start progress.

  • When in decline, stop, focus and take ur time before taking your shot.
  • Don’t bring in outsiders.
  • Don’t panic.
  • Cash is king.

Stage 5: cash is king. Companies don’t die cover night.

  • The right leaders feel a crisis in good time and bad
  • The rightppl will drive improvement to matter what.
  • Need sound mgmt practice in every situation.