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 Decent Book, A Little Overrated Nov 20, 2009
The book does a good job at comparing companies in the past and present that have gone on separate paths based on the decisions they have made. This book is more of a financial history book but one of high level content. The focus is on companies that have fallen from great and what things brought along those falls. The author has a 5 stage timeline of how a company falls that seems a little elementary and kind of disregards the intangibles of small things that create opportunities for big things to occur.
I liked the example of Ames and Wal-Mart and how their paths met and then went in completely opposite directions. Other similar examples are shown. I like the discussion about Ames because I had one near my house growing up and I saw the changes that this book talks about. I also liked the part about Zenith electronics.
Overall, the book seems too much for what it provides and the research seems somewhat plain. 3/5.
 Different perspective Nov 14, 2009
I think that Jim Collins does an excellent job of looking at the mighty from the other side. (vs Good to Great) The five steps to falling take some consideration to see how they fit, although he logically describes each.
Very Good Look at Companies That Fall Nov 06, 2009
I am sure that you are familiar with Jim Collins' other works, Good to Great and Built to Last. In those books, he examines some of the best run companies. In his latest book, How The Mighty Fall: And Why Some Companies Never Give In, he takes a different approach by examining the reasons why companies decline. Using a well reasoned and documented argument, he attempts to answer whether failure or decline can be detected early and avoided, at what points in a company's history can decline be reversed, and why some high flying companies become irrelevant and disappear. Corporate leaders, with an open mind and honest appraisals of their organizations, could benefit greatly from this book. Everyone else will learn some excellent principles for success from the failures and recognition of "warning flags" which can be applied to your organization and its management.
Contents:
Acknowledgements
Preface
The Silent Creep of Impending Doom
Five 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
Well-Founded Hope
Appendices and Notes
Index
It is probably very easy to examine great companies, not so easy to find root cause in companies that fail. And even harder to boil failure down into five stages. However, there is solid research in this book which provides the reader with some excellent questions to ask of themselves and their organizations. A very readable book, one of Collins' best effects is to contrast two companies; their decisions, personnel, and results. It makes for compelling reading. Also, some companies profiled in his earlier two books are examined in this book, but as studies in how they fell. I applaud Collins for not ignoring that fact. Some of the organizations profiled in this book are HP, Rubbermaid, A&P, Bank of America, Circuit City, and Scott Paper. One of most striking examples is Ames Department Stores. Started four years before Wal-Mart, it brought discount retailing to rural and small towns in the Northeast. As Collins notes, if you invested in Ames starting in 1970 and holding the stock through 1985, you would have realized a 6,000% return on your investment. But now, they are gone. Collins' analysis was that "Undisciplined Pursuit of More" brought them down.
The book languishes as Collins provides his research methodology and as he attempts to solidify his thesis, in the chapter, Five Stages of Decline. Luckily, it is early in the book and is quickly forgotten. What follows are chapters where the reader is provided excellent advice. A fairly quick read, How The Mighty Fall is a worthy addition to your reading list,
Disclosure:
Obtained From: Library
Payment: Borrowed
How the Might Fall Nov 04, 2009
What a facinating book. Jim Collins speaks plain English for non-business majors like me. Amazing clear analysis of the stages of what happens to companies...large and small. Couldn't put it down and have ordered other books by him. I think these observations can be applied to the individual as well as companies.
SUPERMONEY Oct 30, 2009
I am reading it right now, it seems to be a very interesting book. Thank you.
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