By Donald R. Keough
From Publishers Weekly A former president of the Coca-Cola corporation, Keough has assembled an enviable Rolodex in his eighty one years, and his e-book counts invoice Gates, Jack Welch and Warren Buffett between its champions. His classes draw upon his lengthy and sundry career—from his early days as a philosophy significant to his first activity as a television activities announcer and employment at Butternut espresso and Coca-Cola—and include a listing of tongue-in-cheek ideas absolute to make the follower a real loser in enterprise: from give up taking dangers and be rigid to do not take time to imagine and be petrified of the longer term. Keough helps his commandments with tales of industrial errors and screw ups, either his own—the roll-out of recent Coke, for example—and these of others—namely, Schlitz beer and IBM. whereas the author's transparent and inspiring tone and renown in the company group will most probably garner his attempt exposure, the unoriginality of the material—all common business-book fare easily phrased within the negative—keeps this well-meaning ebook from status out or delivering unique suggestion to enterprise leaders available in the market for a bit self-improvement. *(Aug.)* "" Copyright © Reed company details, a department of Reed Elsevier Inc. All rights reserved." From Booklist Keough, a distinguished company government, bargains a point of view on failure that's specifically appropriate to leaders who've attained some extent of luck. With a foreword by way of his longtime pal and affiliate Warren Buffett, the popular investor, the writer offers a bankruptcy on each one of his 10 commandments for failure and provides an advantage bankruptcy approximately how wasting ardour for paintings and for all times is a undeniable path to disaster. His failure commandments contain cease taking dangers; be rigid; isolate your self; think infallibility; play the sport with regards to the foul line (which deals thoughtful commentary on ethics); don’t take time to imagine; placed all of your religion in outdoor specialists; love your forms; ship combined messages; and be terrified of the longer term. Keough’s publication is wealthy with examples of failure, and he supplies recommendation on find out how to get over errors whereas studying from them and relocating forward. this can be an exceptional booklet with worthwhile perception for company executives and people meaning to company management. --Mary Whaley
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Additional resources for 10 Commandments for Business Failure
The greatest achievement of good executives is to get things done through other people, not themselves. Now here is a guy who is capable of getting all kinds of people from all over the world, men and women who want to help him succeed. I’ve seen him do it. Maybe it is because no one understands the human aspects of situations better than he. He can advise my kids perhaps better than I can and they love him for that. He does the same for everyone he calls a friend—and that is a lot of people. The Graham Group, named after my mentor Ben Graham, is a bunch of people who meet every two years or so.
The planes got bigger and faster but the pace of innovation in the business itself slowed to a crawl. Protected for decades from the vicissitudes of the free market by strict government regulations, they forgot how to be entrepreneurial businesspeople. They became rigidly inflexible in how they did business even when confronted with ever-mounting losses. They kept doing the same things over and over again, with the same dismal results, sliding in and out of bankruptcy, making the same promises of better management and improved efficiency.
The National Federation of Independent Business Research Foundation estimates that after just five years only half of new businesses with employees are still operating, and many of those at a loss. It certainly isn’t easy. But equally difficult, and sometimes more so, is to undertake a risk from a position of substantial ongoing success—to undertake a risk when there is considerable evidence that it might not even be necessary. Today, there is a substantial amount of time and effort devoted to risk assessment from one perspective or another, ranging from the statistical odds of actual loss to the chances of running afoul of governance rules and regulations.