Chapter 1. Why Do Good Companies Go Bad?
Why do good companies go bad? Honestly, I hadn’t thought too much about this question. Then a CEO friend of mine brought up the 62 “excellent” companies praised by Tom Peters and Robert Waterman in their early 1980s bestseller In Search of Excellence. A great many of them—including such stalwarts as Sears, Xerox, IBM, and Kodak—had faced serious hardships in the 20-odd years since. Some of them recovered. Some, as I write, are struggling mightily to recover. Some are dead or, in all likelihood, soon will be.
So why do good companies go bad? This heartfelt and insightful question launched me on a journey of discovery. I started by conducting archival research on companies that had failed during the past ...
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