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And Why Some Companies Never Give In
UNKNOWN
June 2009
On Sale: May 25, 2009
240 pages
ISBN: 0977326411
EAN: 9780977326419
Hardcover
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Non-Fiction
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: How do 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.
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