7 ways to fail big: Lessons from losers — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

7 ways to fail big: Lessons from losers

Get PDF file

by on
in Leaders & Managers

An analysis of the biggest business failures of the past quarter century, conducted by two consultants, reveals that nearly half of them could have been avoided.

In most cases, the culprit was flawed strategy, not inept execution, which usually gets the blame. Had their leaders looked at history, they may have saved hundreds of billions of dollars.

The seven pitfalls:

1. “We’ll have synergy.” The idea that you can grow by joining another firm with complementary strengths is usually a mirage. Disability insurers Unum and Provident in the group and individual markets, respectively, thought they’d be able to sell each other’s products. Turns out they served different customers through different models, with no incentive to cross-sell, which they should have been able to figure out beforehand.

2. Flawed reasoning. If subprime mortgage lenders had paid attention to Green Tree Financial, they might have sensed danger....(register to read more)

To read the rest of this article you must first register with your email address.

Email Address:

Related Articles...

Leave a Comment


Previous post:

Next post: