HOW THE MIGHTY FALL: And Why Some Companies Never Give In
By Jim Collins
Every great institution trips at some point in its history. All companies, no matter how successful or established, can fail. The crux is to know you’re on the verge of a decline and to turn things around early. Through 4 years of research, Jim Collins discovers that most great companies fall through 5 stages of decline, which can be detected early and avoided. This book covers each of these stages, and how to prevent, detect or reverse the decline before it’s too late.
In this summary, you’ll learn:
• Why some great companies die, while others successfully recover from a fall;
• The 5 stages of decline, their associated symptoms, and how you can detect them early or prevent a potential downfall; and
• Powerful leadership, management and strategy tips from case studies of companies like Motorola, Texas Instruments, Xerox, HP, IBM, and more.
Who should read this:
• CEOs, Business Leaders, and Managers
• Entrepreneurs and Business Owners
• Consultants and anyone who’s interested in business strategy
Lucas –
Like his prior research, Jim Collins looked at several companies and their direct comparisons to identify commonalities shared by the failing companies that were not present in the comparison (successful) companies. [Review from Goodreads]
Jeff Yoak –
I never cease to be amazed at how awesome Collins’ books are. In How The Mighty Fall, he addresses the patterns evident in great companies when they fall, and how those patterns might be identified and reversed early. [Review from Goodreads]