Summary:
The book examines the stages of decline in once-successful companies, identifying common pitfalls such as hubris and denial of risk. It provides insights and strategies for leaders to recognize warning signs and steer their organizations back to a path of growth and sustainability.
Key points:
1. Five Decline Stages: The book outlines five stages of company decline: overconfidence from success, reckless pursuit of growth, denial of risks, desperate attempts for salvation, and surrender to failure or irrelevance. Recognizing these stages can help leaders prevent failure.
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