Management: After The Flood

EVERY COMPANY LIKES TO THINK OF ITSELF AS THE MODEL OF SUCCESS. BUT THE MOST SUCCESSFUL FIRMS ALSO KNOW WHAT IT TAKES TO FAIL

"Failure is simply the opportunity to begin again, this time more intelligently." --Henry Ford

Like practically any self-respecting politician, most CEOs are rarely willing to admit they have made a mistake. Better to blame something outside their control--the economy, changing tastes, even the weather--than take responsibility for a bad earnings report or missed sales forecast. But the truth is that corporate America has more than its fair share of management failures, setting aside cases of fraud or accounting shenanigans. In fact, despite the unique circumstances in different industries, companies tend to stumble for the same insidious reasons--reasons that often flow from...

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