1. James Surowiecki, “The Turnaround Trap,” New Yorker, March 25, 2013.

  2. Brad Tuttle, “The 5 Big Mistakes That Led to Ron Johnson's Ouster at JCPenney,” Time, April 9, 2013,

  3. Joann S. Lublin and Dana Mattioli (“Penney CEO Out, Old Boss Back In,” Wall Street Journal, April 8, 2013) state that “Mr. Johnson was unapologetic about his decision not to test his strategy. Asked earlier this year if he would do things differently given a chance to start over, he replied, ‘No, of course not.’”

  4. Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable, 2nd ed. (New York: Random House, 2010).

  5. Personal story ...

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