Chapter 3

Management Failings

Having laid down a systematic framework and indicated some elements of best practice, it is now time to analyze a wide range of examples where managers are continually making mistakes.

Planning

Continuous 5-year planning was a hallmark of the larger multinational firms. It was largely based on projecting forward past and current trends, so that, if things were going really well, the projections tended to become completely unrealistic. I recall working in the synthetic fiber industry where, if our projections had continued, the usage of the natural fibers wool and cotton would have largely disappeared by now! Another amazing projection came from the Sinclair Company, inventors of the first digital watch and the ZX ...

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