Many big companies—famous brands, once loved and revered—often disappear into oblivion mainly due to their own follies. Look at the once invincible Kodak or the seemingly unfailing Premier Padmini cars. In the unforgiving world of modern business they failed to adapt, only to perish. Many businesses fail to address this basic truth.
Every business is tested for endurance and accomplishment but only a few extract strength and wisdom from their trying experiences. Even the infallible Nokia, BlackBerry, Woolworths and Lehman Brothers buckled. Companies such as Bethlehem Steel, Atari, Xerox, NCR, Mafatlal and Kingfisher Airlines once considered as the great ones to emulate, all failed to live up to their repute.
Instances of business blunders and bloopers are many. They could include compromising quality to cut costs, lack of professionalism in management, botched up mergers and acquisitions, customers being taken for granted, bad leadership, family squabbles, corporate fraud, unmanageable debts and numerous others.
This book will help you understand many famous, frequent and common mistakes committed by businesses over time. The lessons learnt should enable you to run your businesses with lesser hiccups and maximize stakeholder return.