Billion Dollar Lessons: What You Can Learn from the Most Inexcusable Business Failures of the Last 25 Years
Chunka Mui, Author - "Unleashing The Killer App", Fellow - Diamond Management Technology Consultants
Wednesday, 14 January 2009 - 7:30 AM Breakfast, 8:00 – 9:00 AM session
Session description
At a time of the worst business failures since the Great Depression, what lessons can we learn so we don't repeat the same mistakes again?
In this lecture, best selling author and consultant Chunka Mui explains that learning only from success stories won't protect companies from repeating avoidable mistakes that have led to failure again and again.
For example, today's troubled financial firms, extending loans to huge numbers of subprime borrowers, should have been warned off their excesses by a similar debacle involving Green Tree Financial and Conseco Financial in the 1990s. Mui and his coauthor, Paul Carroll, researched 750 of the most significant business failures of the past quarter-century. They found that the #1 cause of failure was misguided strategy--not sloppy execution, poor leadership, or bad luck. Some 46% of the failures were lost on the drawing board, before the strategies even made it into the marketplace.
What you will learn:
* Lessons from the business failures that set off today's financial crisis
* The seven most common strategic errors that lead to business failure
* How synergy, consolidation, rollup and adjacency strategies often lead to trouble
* How to apply a "Devil's Advocate" process to bring problems to the surface before it is too late
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Chunka Mui, Billion Dollar Lessons: What You Can Learn from the Most Inexcusable Business Failures of the Last 25 Years
Chunka Mui is the coauthor of the new book “Billion Dollar Lessons: What You Can Learn from the Most Inexcusable Business Failures of the Last 25 Years” as well as the major business bestseller “Unleashing the Killer App.” He is a fellow at Diamond Management & Technology Consultants. He lives in Chicago.
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