How The Mighty Fall: And Why Some Companies Never Give In by Jim Collins11/05/2009Location : Cleveland, OH
I am sure that you are familiar with Jim
Collins' other works, Good to Great and Built to Last. In
those books, he examines some of the best run companies. In his latest
book, How
The Mighty Fall: And Why Some Companies Never Give In,
he takes a different approach by examining the reasons why companies decline.
Using a well reasoned and documented argument, he attempts to answer whether
failure or decline can be detected early and avoided, at what points in
a company's history can decline be reversed, and why some high flying companies
become irrelevant and disappear. Corporate leaders, with an open mind and
honest appraisals of their organizations, could benefit greatly from this
book. Everyone else will learn some excellent principles for success from
the failures and recognition of "warning flags" which can be
applied to your organization and its management.
Contents:
Acknowledgements
Preface
The Silent Creep of Impending Doom
Five 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
Well-Founded Hope
Appendices and Notes
Index
It is probably very easy to examine great companies, not so easy to find root cause in companies that fail. And even harder to boil failure down into five stages. However, there is solid research in this book which provides the reader with some excellent questions to ask of themselves and their organizations. A very readable book, one of Collins' best effects is to contrast two companies; their decisions, personnel, and results. It makes for compelling reading. Also, some companies profiled in his earlier two books are examined in this book, but as studies in how they fell. I applaud Collins for not ignoring that fact. Some of the organizations profiled in this book are HP, Rubbermaid, A&P, Bank of America, Circuit City, and Scott Paper. One of most striking examples is Ames Department Stores. Started four years before Wal-Mart, it brought discount retailing to rural and small towns in the Northeast. As Collins notes, if you invested in Ames starting in 1970 and holding the stock through 1985, you would have realized a 6,000% return on your investment. But now, they are gone. Collins' analysis was that "Undisciplined Pursuit of More" brought them down.
The book languishes as Collins provides his research methodology and as he attempts to solidify his thesis, in the chapter, Five Stages of Decline. Luckily, it is early in the book and is quickly forgotten. What follows are chapters where the reader is provided excellent advice. A fairly quick read, How The Mighty Fall is a worthy addition to your reading list,
Disclosure:
Obtained From: Library
Payment: Borrowed
Technorati tag: book review Jim Collins
Contents:
Acknowledgements
Preface
The Silent Creep of Impending Doom
Five 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
Well-Founded Hope
Appendices and Notes
Index
It is probably very easy to examine great companies, not so easy to find root cause in companies that fail. And even harder to boil failure down into five stages. However, there is solid research in this book which provides the reader with some excellent questions to ask of themselves and their organizations. A very readable book, one of Collins' best effects is to contrast two companies; their decisions, personnel, and results. It makes for compelling reading. Also, some companies profiled in his earlier two books are examined in this book, but as studies in how they fell. I applaud Collins for not ignoring that fact. Some of the organizations profiled in this book are HP, Rubbermaid, A&P, Bank of America, Circuit City, and Scott Paper. One of most striking examples is Ames Department Stores. Started four years before Wal-Mart, it brought discount retailing to rural and small towns in the Northeast. As Collins notes, if you invested in Ames starting in 1970 and holding the stock through 1985, you would have realized a 6,000% return on your investment. But now, they are gone. Collins' analysis was that "Undisciplined Pursuit of More" brought them down.
The book languishes as Collins provides his research methodology and as he attempts to solidify his thesis, in the chapter, Five Stages of Decline. Luckily, it is early in the book and is quickly forgotten. What follows are chapters where the reader is provided excellent advice. A fairly quick read, How The Mighty Fall is a worthy addition to your reading list,
Disclosure:
Obtained From: Library
Payment: Borrowed
Technorati tag: book review Jim Collins
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