How The Mighty Fall: And Why Some Companies Never Give In by James C. Collins
My rating: 3 of 5 stars

Another insightful business book by Jim Collins, with a focus on the causes behind great companies who have fallen--some into non-existence, some into bankruptcy, some into irrelevance, some into the history books of ignominy. I gave this book 3-1/2 stars in my Reading Log; it's really an extended research paper--clocking in at only 123 real pgs. (then another 100 pgs of Appendices). How do the mighty/great--former giants of business--fall? 1) Hubris born from success, 2) Undisciplined pursuit of more (greed/relentless drive), 3) Denial of risk & peril (not facing the facts), 4) Grasping for salvation (in a new CEO, restructuring, etc.), and 5) Capitulation to irrelevance or death. These 5 phases of going from Great to Naught can happen slowly over many years, or can happen in a flash (e.g. Lehman Bros in the Crash of 2008). And, some have been able--over time--to bounce back. Some of the companies highlighted: Motorola, Rubbermaid, A&P Supermarkets, Ames Department Stores, Bank of America, Circuit City, Addressograph, HP, Merck, Scott Paper, & Zenith. One of the ones that was a "Success Contrast" (to Bank of America) was Wells Fargo...and since the book was written, they have fallen hard & been exposed for fraudulent business practices & a level of greed/avarice that is unprecedented (just watched an episode of Dirty Money, Season 2, which excoriated their high pressure tactics & disregard of their personnel). Some good warnings/lessons for all in this book, so illustrative in many ways of the biblical principle that "pride goes before a fall."


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