Publish: Published May 19th 2009 by JimCollins (first published January 1st 2009)
ISBN: ISBN 0977326411 (ISBN13: 9780977326419)
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.
Some Reviews: 6,605 ratings 313 reviews in Goodreads.com
This book has a lot of really good advice that can be viewed from a personal point of view in addition to the business context from which it is written. My favorite quote from the book was near the end when he is talking about how to avoid complete dailure and collapse of the company. He said, “As long as you never get entirely knocked out of the game, there remains always hope.” This encourages me to just keep getting back up when life knocks me down.
Great business case book. The cases are great, the analysis is superb. The thing is, the series has less evident investigation perhaps and this book is really a book between books, but I don’t mind at all. I wish Collins and his team would publish a book a year. I read the last two out of order and it would have made more sense to read them as they came out, but a great business read over all. I this cases are the best way to learn anything.
An excellent book to give an overview of where our companies might be today and where they are headed. Good examples and great models… I would suggest that readers try applying the checklist of all the five stages to their respective organizations and seeing if they fit into any of those. I did that with my organization and I could see the parallels leaping out at me… Good pace and a great read…
Jim Collins, brings out an amazing framework to how companies can catch themselves from falling into a self destructive abyss. He is very clear on what will turn the company around and to a very very large extent (being a part of a company that is in the process of a turnaround) I have to agree with him. I definitely will take a stab at his earlier books “Good to great” and “built to last”.
All in all a must read for those who believe that “Its ain’t over till the fat lady sings”
Very well written business book. I listened to the audio-book version and really enjoyed how the author put a little extra color in the reading. The author got really excited about how the CEO of Xerox was a big fan of a book about Shackleton’s voyage called Endurance. There’s a little too much talk about his methodology (I guess you could skip over that in the print edition.) The author assumes that you’ve read his other books (Good to Great etc.)
Author(s): Sebastian MallabyDownload
Publish: Published October 11th 2016 by Penguin Press
ISBN: Literary Awards Financial Times and McKinsey Business Book of the Year (2016)
The definitive biography of the...