Why Smart Executives Fail: And What You Can Learn from Their Mistakes
Contents:
His book ably sums up the results of that six-year research project.
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Its message is less about assigning blame than in identifying the early warning signs the companies had in common, in an effort to wake up executives elsewhere. So, what are the warning signs? According to Finkelstein, all of the companies in his study suffered from one or more of the following six self-imposed handicaps: They chose not to cope with innovation and change; misread the competition; fulfilled the wrong vision; clung to an inaccurate form of reality; ignored vital information; or had executives who identified too closely with the company.
The chapter-long descriptions of each of these problems are well-written and well-reasoned. One of the most important lessons, for example, is the necessity of listening to negative feedback. Team spirit and an upbeat attitude is all well and good, but not at the expense of facing bad news, says Finkelstein.
Compensate for company pride, he says, by closely watching the competition and by partnering with others to reign in new ideas and practices. Fritz 9 Fox, J. How does this happen?
Instead of rectifying their mistakes, why do business leaders regularly make them worse? To answer these questions, Sydney Finkelstein has carried out the largest research project ever devoted to corporate mistakes and failures.
Why Smart Executives Fail: And What You Can Learn from Their Mistakes
He relates the stories of great business disasters and demonstrates that there are specific, identifiable ways in which many businesses regularly make themselves vulnerable to failure. The result is a truly indispensable, practical, must-read book that explains the mechanics of business failure, how to avoid them, and what to do if they happen.
Why Smart Executives Fail: And What You Can Learn from Their Mistakes [ Sydney Finkelstein] on bahana-line.com *FREE* shipping on qualifying offers. The following is a highlighted summary of the book, Why Smart Executives Fail, published by the And what you can LEARN FROM THEIR MISTAKES. By.
From the Trade Paperback edition. Great Corporate Mistakes 2. Innovation and Change Choosing Not to Cope 4. The Causes of Failure 6. Learning From Mistakes Also by Sydney Finkelstein.
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