Going Under: Could It Happen to You?
NEW YORK (TheStreet) -- My area Blockbuster and Hollywood video stores are no more.
The two mega-bookseller Borders stores in my area gone.
Heck, the world automotive icon, GM had earned the right to go bankrupt, but the Obama administration wouldn't allow it.
Pundits will say the combination of recession, competition, and change in general, have forced their business' demise.
Is that the real reason, or was the individual company's leadership complacency or incompetence to blame?
|Better leadership would be better prepared for a changing market|
In every scenario, the common links were executives content with the status quo, denying the truth of the emerging reality, bowed to the demands of short-term self-interests over long-term sustainability.
These are problems of leaders, not businesses and not economies.
The demand for critical thinking and strategic planning for leaders is past the critical stage. Focus on the future is no longer an option but a mandate.