Tuesday, May 5, 2009
Other Articles Worth Reading in the Spring 2009 issue of OnPoint
1. 7 Ways to Fail Big: Lessons from the most inexcusable business failures of the past 25 years (Carol and Mui). These guys studied 750 of the biggest business failures over the last 25 years (many of which could have been avoided). They came out with 7 big findings you might want to explore in depth: The Synergy Mirage, Faulty Financial Engineering, Stubbornly Staying the Course, Puesdo-Adjacencies, Bets on the Wrong Technology, Rushing to Consolidate, Roll-Ups of Almost Any Kind.
2. Reputation and Its Risks (Eccles, Newquist and Schatz). The authors set up the value in considering reputation management as a discipline in any company early on the article when they tell us that 70-80% of market value comes from brand equity, intellectual capital and goodwill! Thus, reputation is jugular! See the detail by reading the entire article that speaks about how to 1) Assess current reputation with stakeholders; 2) Evaluate performance in those key categories; 3) Close any gaps that you identify; 4) Monitor changes in stakeholder’s opinions and expectations: 4) Designate one person in charge of reputation management.
LOTS MORE IN THIS QUARTERLY. BUY IT FOR EVERYON ON YOUR SENIOR TEAM AND HAVE AN OFF-SITE RETREAT TO DISCUSS IT.