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by Jim Collins
Jim Collins offers leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Collins' research project - more than four years in duration - uncovered five step-wise stages of decline:
Stage 1: Hubris Born of Success Stage 2: Undisciplined Pursuit of More Stage 3: Denial of Risk and Peril Stage 4: Grasping for Salvation Stage 5: Capitulation to Irrelevance or Death
By understanding these stages of decline, leaders can substantially reduce their chances of falling all the way to the bottom.
GREAT COMPANIES CAN STUMBLE BADLY AND RECOVER .