The Ten Commandments for Business Failure

The Ten Commandments for Business Failure

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Don Keougha€”a former top executive at Coca-Cola and now chairman of the elite investment banking firm Allen a Companya€”has witnessed plenty of failures in his sixty-year career (including New Coke). He has also been friends with some of the most successful people in business history, including Warren Buffett, Bill Gates, Jack Welch, Rupert Murdoch, and Peter Drucker. Now this elder statesman reveals how great enterprises get into trouble. Even the smartest executives can fall into the trap of believing in their own infallibility. When that happens, more bad decisions are sure to follow. This light-hearted a€œhow-not-toa€ book includes anecdotes from Keough's long career as well as other infamous failures. His commandments for failure include: Quit Taking Risks; Be Inflexible; Assume Infallibility; Put All Your Faith in Experts; Send Mixed Messages; and Be Afraid of the Future. As he writes, a€œAfter a lifetime in business I've never been able to develop a step-by-step formula that will guarantee success. What I could do, however, was talk about how to lose. I guarantee that anyone who follows my formula will be a highly successful loser.a€Commandment #4, Assume Infallibility, was on marvelous display in the Toyota acceleration problem. Japanese automakers were once the darlings of the industry. Perhaps as a result of believing their own press about how superior theiranbsp;...

Title:The Ten Commandments for Business Failure
Author:Donald R. Keough
Publisher:Penguin - 2011-06-28


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