EAN: 9780977326419

HOW THE MIGHTY FALL - JIM COLLINS GEBUNDEN

Decline can be avoided. Decline can be detected. Decline can be reversed. Amidst the desolate
landscape of fallen great companies  Jim Collins began to wonder: How do the mighty fall? Can
decline be detected early and avoided? How far can a company fall before the path toward doom
becomes inevitable and unshakable? How can companies reverse course? In How the Mighty Fall  
Collins confronts these questions  offering leaders the well-founded hope that they can learn
how to stave off decline and  if they find themselves falling  reverse their course. Collins'
research project?more than four years in duration?uncovered five step-wise stages of decline:
Stage 1: Hubris Born of Success Stage 2: Undisciplined Pursuit of More Stage 3: Denial of Risk
and Peril Stage 4: Grasping for Salvation Stage 5: Capitulation to Irrelevance or Death By
understanding these stages of decline  leaders can substantially reduce their chances of
falling all the way to the bottom. Great companies can stumble  badly  and recover. Every
institution  no matter how great  is 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. But 
as Collins' research emphasizes  some companies do indeed recover?in some cases  coming back
even stronger? even after having crashed into the depths of Stage 4 . Decline  it turns out  is
largely self-inflicted  and the path to recovery lies largely within our own hands. We are not
imprisoned by our circumstances  our history  or even our staggering defeats along the way. As
long as we never get entirely knocked out of the game  hope always remains. The mighty can fall
but they can often rise again.

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