Business Archives

Overconfidence Bias in Decision-Making: A Company’s Downfall

How does overconfidence affect decision-making? How does overconfidence hurt businesses? In his book How the Mighty Fall, Jim Collins claims that one of the reasons why companies fail is because managers or workers are overconfident that the company can only go uphill. Companies should always be prepared for the worst, and believing otherwise will only hurt them. Let’s look at how overconfidence bias in decision-making hurts companies.

How to Develop & Use Key Performance Indicators (KPIs)

What are the best strategies for developing key performance indicators and using them effectively? In business development, what is the role of key performance indicators in optimizing your business model? Developing key performance indicators (also known as KPIs) is the starting point for monitoring the growth of your company. Using key performance indicators gives you a data-driven approach to keeping track of your company’s success. Learn about how to develop and use key performance indicators that are appropriate for your business.

The Effects of Poor Leadership on Big Companies

What are the effects of poor leadership? What’s “bad growth” in business? According to How the Mighty Fall by Jim Collins, a successful company could become obsessed with growth in all the wrong ways, which he calls overreaching. This is mainly caused by leaders who believe that bigger is always better, but don’t necessarily pay attention to the finer details. Keep reading to learn more about the effects of poor leadership on successful businesses.

The Result of Ignoring Symptoms of Business Failure

What happens when leaders ignore the symptoms of business failure? Can a company collapse overnight? According to How the Mighty Fall by Jim Collins, a major contributor to a company’s downfall is when it disregards signs of decline. Because leaders ignore these signs, they make reckless decisions with potentially disastrous consequences. Continue reading to learn the consequences of ignoring the symptoms of a failing business.

The Negative Impact of Change in an Organization

What’s the negative impact of change in an organization? What happens when leaders make rash, emotional decisions? Sometimes, change can be great for an organization. Other times though, abrupt change could be a sign of leaders desperately trying to save a failing business. Let’s look at the negative impact of change in an organization, including bringing new people in and implementing new strategies.

Investing in Rental Properties for Beginners: 4 Steps

Are you new to rental property investing? What’s the easiest way to commit to an investment? For beginners, investing in rental properties can be a huge financial decision. Many rewards come with the investment, but there are also some risks that you’ll need to consider. Below is a step-by-step guide on investing in rental properties for beginners who have little to no experience.

How the Mighty Fall: Quotes About Struggling Businesses

How do formidable companies lose their footing and fall into irrelevance? What are the most insightful How the Mighty Fall quotes? In his book How the Mighty Fall, Jim Collins discusses the five phases that lead to a company’s decline. He also breaks down how to resuscitate a faltering company. Keep reading for the best How the Mighty Fall quotes to get the main ideas.

How Discipline in Management Resuscitates Businesses

Why is discipline in management important? Can discipline save a business in decline? In How the Mighty Fall, Jim Collins has a few suggestions to help a floundering company thrive and succeed. One of his prescriptions is to uphold disciplined management practices so you can evaluate big business decisions with a clear head. Continue reading for more on why discipline in management can be a lifesaver for businesses.

Jim Collins: The Flywheel Is the Core of Businesses

What’s a company’s “flywheel,” according to Jim Collins? Why’s it important to keep your focus on said flywheel? According to How the Mighty Fall by Jim Collins, flywheel means the small wins that gain momentum for your business. If you take your mind off the flywheel for even just a moment, it could have dire consequences. Check out why the flywheel is the foundation of a business strategy.

Shoplifting Is on the Rise: Here Are Causes & Solutions

Why is shoplifting on the rise? Why are professional shoplifters unafraid of the consequences? IS the shoplifting narrative exaggerated? US shoplifting losses reached $100 billion in 2021, marking a significant increase from pre-pandemic levels. Experts are divided on the causes of the shoplifting surge and disagree on whether shoplifting is an unprecedented crisis or an exaggerated narrative pushed by retailers. Keep reading to learn more about the rise in retail theft.