Lately it isn’t uncommon to see a story in the news about another failed company or one that is in its death throes. There are just as many reports claiming to explain why these companies have failed. Some may be right, some wrong, but I doubt any have done the research and study that has produced Jim Collin’s latest offering, How the Mighty Fall and Why Some Companies Never Give In.
I must confess that I did not get around to reading Collin’s From Good to Great until fairly recently and while I found that book to be well researched and full of terrific information, I was troubled by two of his “great” companies; Circuit City and Fannie Mae. Circuit City had gone bankrupt and out of business by the time I read the book and Fannie Mae, well, you know. So, I was pleased to see How the Mighty Fall would address these companies.
But, Fannie Mae and current economic issues are not the purpose of the book. In fact, Collins specifically mentions in the Preface that he purposefully avoided the 2008 financial situation. Instead, the book stems from his own “curiosity about why some of the greatest companies in history, including some once-great enterprises we’d researched for Built to Last and Good to Great, had fallen.”