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Breaking Failure: How to Break the Cycle of Business Failure and Underperformance Using Root Cause, Failure Mode and Effects Analysis, and an Early Warning System by Alexander Edsel

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6. The Preplanned Exit Strategy

“We are not retreating; we are advancing in another direction.”

—General Douglas MacArthur

Despite the high probability of failure or underperformance, most business plans fail to include a trigger point to signal the need for a serious assessment of either a substantially different strategy or an exit strategy. Especially during the honeymoon period of a new venture, the thought of including an exit strategy is, for some, tantamount to “jinxing” the venture, or demonstrates a lack of confidence in the new company or product. The truth, however, is that failing to include a trigger point and preplanned exit strategy is more a sign of negligence than a no-confidence vote. As a previous cruise ship example illustrated, ...

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