Examining the Costly Lessons from Business Failures

Plenty of lessons can be learned from the glut of businesses that have fallen under the swift sword of a merciless recession. Yet according to authors Paul B. Carroll and Chunka Mui, executives continue to make the same mistakes that defeated their predecessors. In Billion-Dollar Lessons: What You Can Learn from the Most Inexcusable Business Failures of the Last 25 Years, Carroll and Mui draw … [ Read more ]

Let’s Get Persian

Herodotus, the Greek historian, reported that the ancient Persians always made important decisions twice—first when they were drunk, and then again when they were sober. Only if the Persians reached the same decision, drunk and sober, would they act on that decision.

In addition to using what might be called a second-chance meeting to review important decisions in an unbiased light, businesses should also take advantage … [ Read more ]