Why Successful Companies Fail?

Why successful companies fail?

Now I understand,

Why Facebook took over Whatโ€™s up at an extremely high valuation at that time?

Because they didnโ€™t want to become one more Orkut.

Because there is no place of ignorance on Facebook.

๐—•๐—ฒ๐—ฐ๐—ฎ๐˜‚๐˜€๐—ฒ ๐—ถ๐˜ ๐—ถ๐˜€ ๐—ฟ๐˜‚๐—ป ๐—ฏ๐˜† ๐—ต๐—ฎ๐—ฝ๐—ฝ๐˜† ๐—ฒ๐—บ๐—ฝ๐—น๐—ผ๐˜†๐—ฒ๐—ฒ๐˜€, ๐—ป๐—ผ๐˜ ๐—ถ๐—ด๐—ป๐—ผ๐—ฟ๐—ฎ๐—ป๐˜ ๐—ฒ๐—บ๐—ฝ๐—น๐—ผ๐˜†๐—ฒ๐—ฒ๐˜€.

Do a root cause analysis of all the successful companies which failed.

Nokia’s growing bureaucracy and deep internal rivalries prevented them from recognizing the shift from product-based competition to one based on platforms.

Kodak invented the first digital camera but failed to market it.

Lehman Brothers collapsed because the management thought they know better than anyone else.

Take any company for that matter,

If we do the drill-down analysis, the companies fail because of ignorant employees.

They think they are too smart.

They ignore the upcoming challenges or changing trends of the business.

How do you identify such employees and how do you change them or remove them from the system?

Please comment

 

Source

https://knowledge.insead.edu/strategy/the-strategic-decisions-that-caused-nokias-failure-7766

https://knowledge.wharton.upenn.edu/article/the-good-reasons-why-lehman-failed/

 

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