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How the Mighty Fall: And Why Some Companies Never Give In | [Jim Collins]

How the Mighty Fall: And Why Some Companies Never Give In

Amidst 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?
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Publisher's Summary

Decline can be avoided.

Decline can be detected.

Decline can be reversed.

Amidst 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. Collins' research project - more than four years in duration - uncovered five step-wise stages of decline:

Stage 1: Hubris Born of Success
Stage 2: Undisciplined Pursuit of More
Stage 3: Denial of Risk and Peril
Stage 4: Grasping for Salvation
Stage 5: Capitulation to Irrelevance or Death

By understanding these stages of decline, leaders can substantially reduce their chances of falling all the way to the bottom. Great companies can stumble, badly, and recover.

Every institution, no matter how great, is vulnerable to decline. There is no law of nature that the most powerful will inevitably remain at the top. Anyone can fall and most eventually do. But, as Collins' research emphasizes, some companies do indeed recover - in some cases, coming back even stronger - even after having crashed into the depths of Stage 4.

Decline, it turns out, is largely self-inflicted, and the path to recovery lies largely within our own hands. We are not imprisoned by our circumstances, our history, or even our staggering defeats along the way. As long as we never get entirely knocked out of the game, hope always remains. The mighty can fall, but they can often rise again.

©2009 Jim Collins; (P)2009 Random House Audiobooks

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    Lim Singapore, Singapore 06-25-12
    Lim Singapore, Singapore 06-25-12 Member Since 2011
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    "Great but short..."

    Short book in comparison to Collins' other works...nonetheless an interesting and worthwhile listen! I always acquire new insights from his book. Lookout for the concept of 'hubris' in this book.

    0 of 0 people found this review helpful
  •  
    Wim ParysSouth Africa 11-23-09
    Wim ParysSouth Africa 11-23-09
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    "Informative"

    Well researched and pratical. Very good book

    0 of 0 people found this review helpful
  •  
    Kenneth Odense, Denmark 09-17-09
    Kenneth Odense, Denmark 09-17-09 Member Since 2009
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    "Great insight and nice to know"

    Great to know what signs to look for when the mighty falls. A reading that brings a new perspective, where most other literature focuses on analyzing firms on the way up, rather than looking back on what went wrong. Signs on stage 4 in the 5 point decline model illustrate some key element in poor management as I see it

    0 of 0 people found this review helpful
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