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Billion-Dollar Lessons: What You Can Learn from the Most Inexcusable Business Failures of the Last 25 Years Hardcover – Bargain Price, September 11, 2008
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Top Customer Reviews
Among their most interesting revelations is that failures tended to be associated with one of seven types of strategy. "Failures could certainly happen for other reasons, but if a company followed one of these strategies it is far more likely to fail." Here's where it gets really interesting.Read more ›
I liked the "Tough Questions" found at the end of each chapter. If business executives pay attention to just those questions, then they won't be involved in one of these huge mistakes.
I also want to say that when I sat down to read it, I expected to read for 30 minutes and put it down. This was a page turner and I didn't stop reading until I finished.
Great book! Well written! Needed by the Business Community!
Carroll, a former writer for the Wall Street Journal, and Mui, a fellow at Diamond Management and Technology Consultants, dive deep into some of the biggest business failures of the last 50 years. This is no small feat, because there are a number of failures from which to choose. According to the book's research, 250 companies have taken asset write-offs of over $350 billion (yes, billion is with a "b") over the last 25 years. "Billion Dollar Lessons" demonstrates several themes that drive many of the largest business failures documented in the book, including the following.
* Poor understanding of adjacent markets - Avon believed that since it had a "culture of caring", it could expand from its traditional market of cosmetics into operating nursing homes.
* Failure to adequately plan for major changes to the business model - Kodak was fully aware of digital imaging's threat to its business in 1981, yet it could not change its mindset away from reliance on traditional film processing.
* Not forecasting the problems that can come from consolidation efforts - Carroll and Mui show how many businesses justify rollup strategies with grand forecasts of synergies from cross-selling or back-office integration. However, these businesses do not plan for the problems that arise with integrating different businesses.Read more ›
Most Recent Customer Reviews
I bought this book on the basis of the strong reviews. I didn't think the authors delivered any original insights in my view. Read morePublished 8 months ago by Customer
Main Idea: The study of failed business ventures may be more valuable than the study of successful businesses. Read morePublished 10 months ago by Jerold Gafford
Great insights and research into an array of strategic business mistakes. Many executives could benefit from this text with special attention paid to the hubris and ego that so... Read morePublished 12 months ago by Michael T Buchanan
Fascinating look at how even brilliant managers fail and plenty of information and ideas on how others can avoid making the same mistakes. Read morePublished 22 months ago by R. Burgess
I got this book as a gift, and it was one of the best I read in 2013. Sold as a business book, the real lessons here are broader psychological ones, treating decision making, the... Read morePublished on May 11, 2014 by Bobby Debelak
I like this book becasue it help me. In my business course and on yop of that i am a Accounting major.Published on March 1, 2014 by Jeremiah
I enjoyed reading this book about companies that went bankrupt. I bought this book to learn more about the Kmart Corporation for a book I was writing. Read morePublished on December 12, 2013 by BrittdogPub
Many of these lessons come from stories that will baffle you. I believe the errors caused were costly, but could have been avoided if folks would just be comfortable w/ the wealth... Read morePublished on September 14, 2013 by Brandon G. Smith