There is an ancient saying in Sanskrit, “at the time of destruction, the mind goes berserk”. Failure can be a pathway to success and so it is really helpful to learn from the failure stories of big heads and their bouncing back to glory. Get insights on consulting, business, finance and technology. While one might point out that there have been successful businesses that have entered into a wide range of industries, venturing into unrelated fields such as aviation, fertilizer, engineering, and Formula1 did not work for UB Group. How do the mighty/great--former giants of business--fall? The 5 stages he posits are: Was impressed by the title but frankly do not have a clear answer on why this book was written. She has a Masters degree in Business Analytics from Singapore Management University. I've always been a huge fan of his work and this one is no different. 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. Retrieved from Deepimpactonline: 1) http://www.deepimpactonline.com/download/How%20The%20Mighty%20Fall%20Book%20Summary.pdf, wiki/Kingfisher_Airlines. At the same time, he failed to provide salaries to his own employees completely ruining the morale of the company. Disabling it will result in some disabled or missing features. Let us know what’s wrong with this preview of, Published I have seen how it looks when the powerful falls and its not pretty. May 19th 2009 Stage 5 – Capitulation to irrelevance or death. Jim Collins creates space for life lessons among those meant for growing or in this case, saving a company. The "turnaround" examples are especially heinous. After Turning the FlyWheel, this is my second Jim Collins book. However, he revamped policies and took measures to reduce losses. Great book with many cautionary tales and an optimistic outlook. It also analyzes reviews to verify trustworthiness. That's saying something. When Jim Collins, author of the book “How the mighty fall”, was first asked this question by a business executive he was astounded, not being able to answer it. The output of the analysis is presented in an easy to consume manor that doesn't require an MBA. Like his prior research, Jim Collins looked at several companies and their direct comparisons to identify commonalities shared by the failing companies that were not present in the comparison (successful) companies. You'll likely get value from this book if: BRINGS YOU TO ANALYSE THE REALITY OF FACTS, Reviewed in the United States on August 12, 2011. A fantastic follow up to "Good To Great". And it's probably worse than his other books because this book is born out of one of his extended article/research, which gets lengthened into a relatively short book (240 pages). "How the Mighty Fall" is a chilling story full of moral quandary and ambiguity. This book is again not an exception. Get insights on consulting, business, finance, and technology. I have seen this trajectory many times (or parts of it) and it rang very true to me and was a. I love Jim Collins books. Some of the companies highlighted: Motorola, Rubbermaid, A&P Supermarkets, Ames Department Stores, Bank of America, Circuit City, Addressograph, HP, Merck, Scott Paper, & Zenith. Finished this fantastic book written by #jimcollins and it was amazing. Reviewed in the United States on January 17, 2015. Kingfisher’s acquisition in 2007 of Air Deccan, a lowcost airline, fits the quote perfectly. Why? Your recently viewed items and featured recommendations, Select the department you want to search in, Reviewed in the United States on June 5, 2010. In February 2014, Aggarwal stepped down as CEO of Kingfisher Airlines, which was a blow to the company and its stakeholders, pushing the organization towards the abyss. Like most CEOs, Vijay Mallya continued to blame external factors such as the declining market for aviation, inflation, the recent acquisition of Air Deccan, and employee strikes. You can still see all customer reviews for the product. As a result, they make way for competitors to gain a competitive advantage. It is only that, when an individual fails it’s a family misfortune, but when a large corporation fails it’s a national catastrophe. Failure can be a pathway to success and so it is really helpful to learn from the failure stories of big heads and their bouncing. Collins maps out each stage and provides examples of how each company went into each stage. Kingfisher became saddled with 88 aircraft in a declining market, just when a global slowdown was beginning to hurt the aviation industry, and this pushed Kingfisher Airlines into the third stage of decline. An institution can look strong on the outside but already be sick on the inside,”, Financial Times and McKinsey Business Book of the Year Nominee for Longlist (2009), Readers' Most Anticipated Books of November. Kingfisher Airlines was positioned as a premium business class airline without understanding the needs of the domestic market. The Jim Collins books are well researched academic/scientific approach to answering business questions. Although if you do have an MBA you may be finding yourself asking why didn't they teach me this in school! Because it's conslusions are as piercingly insightful as always, but this book offers something new as well - it's wisdom works on both the institutional/organizational level and on the personal level. Jack Welch, ex-Chairman and ex-CEO of General Electric once said, “If you don’t have a competitive advantage, don’t compete”. 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). This is an on-point and quick read with enlightening ideas on how the too-great-to-fail businesses can crumple just because their leadership refused to acknowledge the signs of their demise. In her free time, she loves to read books, write posts on varied topics including Consulting, Marketing, Analytics, Leadership, Innovation, and Travel. Actually I liked the way he is analyzing companies and for me the study is based on a bunch of data which is carefully selected. It always lack the rigor or the indepth study. Be humble is a key point to figure out that the competitor is not static and the customer does not want what you offer but what he wants. Mallya brought in a new CEO in October 2010, Sanjay Aggarwal, who had managed to turn things around for SpiceJet, another aviation company. Another excellent book from Jim Collins, which explores the five stages of decline and why businesses decline. UB Group should have carefully analysed the aviation market before jumping in, and understood its capabilities to gain and sustain competitive advantage. I started to count the elbow-in-the-ribs questions, but I ran out of ribs. These steps were only a temporary relief though as the airline had already lost momentum. Engaging and complex characters captivate the imagination and the beautifully descriptive settings (New York- a plus!) Overrated drivel. Goodreads helps you keep track of books you want to read. The book talks about the trajectory of company's that fail (some that save them selves and other do not). Reviewed in the United States on March 27, 2012. As one reads the book, it becomes evident that the fundamentals of sustaining success are similar for both individuals and organizations. I heard Collins speak at a conference and he explained how it struck him that he could pop out this book in the middle of the other big research projects he was working on. Kingfisher Airlines could not turn the situation around. Mallya gave away merchandise to passengers, and continued to release the famous Kingfisher calendar featuring some of the top models in the world. There are no discussion topics on this book yet. To read is to voyage through time.”... To see what your friends thought of this book. His answers are based on a rigorous analysis of real data. I never cease to be amazed at how awesome Collins' books are. She has worked in elite companies such as DBS Bank, Capgemini, and Hewlett Packard Enterprise before and during Masters in Singapore that she calls her second home, first being India.

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