The Ten Commandments for Business Failure-#2
I recently read an interesting book by Donald Keough, who was chairman of Coca Cola Company during the introduction of New Coke. He has some intriguing insights into business failure. What I find most interesting is the number of companies I have seen who are following at least some of these commandments. I will publish my thoughs on this over the next ten sessions.
#2 Be Inflexible. This is much related to #1 above. These owners and managers are so set in their ways that they cannot see a different way of operating. They cannot innovate or grow. As the saying goes, if you are not growing you are dying. I have seen companies that no matter how much trouble they are in just will not change the way they operate. In the end you must change to succeed. Like Ford was once quoted as saying, they can have any color they want as long as it is black. That only worked for a short period of time. Stay flexible my friend.