Blog: The seeds of this famous brand’s collapse were sown long ago
28 January 2013, 11:13
Whenever a dominant business collapses somewhere, someone in authority has been displaying hubris: the arrogance that prevents the obvious from being seen and much-needed change from being made.
Too much success is the biggest cause of big businesses running into problems. Why? Because business leaders have a well-documented tendency to become wedded to a single ‘formula’ of success; of believing they know it all; of dismissing any contrarian views; of rubbishing any dissenting voices.
Dominant companies are not brought down by external disruptions like technological change or transformation of consumer tastes. They are brought down by their own inability to detect the currents of change and accept the forces of evolution.
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