"Whether you prevail or fail, endure or die, depends more on what you do to yourself than on what the world does to you."—Jim Collins
Decline can be avoided. Decline can be detected. Decline can be reversed.
Amid 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.
By understanding the stages of decline, leaders can substantially reduce their chances of falling all the way to the bottom. As Collins' research emphasizes, some companies do indeed recover—in some cases, coming back even stronger. As long as you never get entirely knocked out of the game, hope always remains. The mighty can fall, but they can often rise again.
Releavant and full of common sense
This is an awesome book for anyone regardless of your career field including military members. Mr Collins does a great job explaining why many of the great companies we've become familiar with have failed or were failing prior to the beginning of the Recession (that's what it is, don't call it anything else). He backs his conclusions up with hard data and research as with his other books. I recommend reading his other books "Good to Great" and "Built to Last" before taking on "How the Mighty Fall." It'll give you a better idea of how he analyizes companies and how some corporations that were lauded in his previous books (i.e Circuit City) are highlighted in "How the Mighty Fall" as failing various reasons. Mr Collins, as always, offers solutions to preventing failure and turning back from the precipice if you find your organization on the edge of failing for good.
I'd like to thank the author for this excellent book and passionate reading. The passion and research shine in the audio. Answera to the two questions "how would you know if your company is in decline" and "what to do about it" are fascinating. The conclusions are sometimes common sense and sometimes counterintuitive...always great food for thought. I've listened to this reading at least 4 times and it has paid for itself many thousands of times over (literally). Buy it...you won't regret it, it's one of my favorites. You might also listen to its predecessor "Good to Great" as a scene setter for this book, but it isn't necessary.