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Title: How the Mighty Fall
Subtitle: And Why Some Companies Never Give In
Author: Jim Collins
Narrator: Jim Collins
Format: Unabridged
Length: 4 hrs and 40 mins
Language: English
Release date: 07-01-09
Publisher: Random House AudioBooks
Ratings: 4 of 5 out of 52 votes
Genres: Business, Management
Publisher's Summary:
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.
Members Reviews:
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.
Informative
Well researched and pratical. Very good book
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
Business bible
Jim Collins has helped me to build my business right from the beginning and learn from others mistakes.
The research was immense and the guidance seems to fit almost any type of business.
This is a must read -