Chapter 7
Corporate Stewardship
Every institution is vulnerable, no matter how great. No matter how much you’ve achieved, no matter how far you’ve gone, no matter how much power you’ve garnered, you are vulnerable to decline. There is no law of nature that the most powerful will inevitably remain at the top. Anyone can fall and most eventually do.
—Jim Collins, How the Mighty Fall
Corporate failures are in the news every day, as are CEOs who lose their jobs when their companies’ fortunes decline. General Motors, perhaps the most iconic of these failures, took more than thirty years to die and could only be resurrected after bankruptcy. Many of the great and much-admired companies described in the books Built to Last and Good to Great are no longer ...
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