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Drop can be averted. Drop can be recognized. Drop can be reversed. Amidst the desolate scenery of dropped great companies, Jim Collins commenced to ask yourself: How do the mighty fall? Can decrease be detected early on and avoided? What lengths can an organization fall before the way toward doom becomes inescapable and unshakable? How do companies reverse course? In How the Mighty Fall, Collins confronts these questions, offering market leaders the well-founded desire they can learn how to stave off decline and, if indeed they find themselves falling, reverse their course. Collins' research project—more than four years in duration—uncovered five step-wise stages of decrease: Level 1: Hubris Given birth to of Success
Level 2: Undisciplined Quest for More
Level 3: Denial of Risk and Peril
Level 4: Grasping for Salvation
Level 5: Capitulation to Irrelevance or Loss of life By understanding these stages of decline, market leaders can substantially reduce their chances of falling all the way to the bottom. Great companies can stumble, badly, and recover. Every establishment, no subject how great, is vulnerable to decline. There is absolutely no law of nature that the most powerful will inevitably continue to be at the top. Anyone can show up & most eventually do. But, as Collins' research stresses, some companies do indeed retrieve—in some cases, coming back even better—even after having crashed in to the depths of Level 4. Decline, as it happens, is basically self-inflicted, and the path to recovery is largely within our own hands. We aren't imprisoned by our circumstances, our background, or even our staggering defeats along the way. As long as we never get entirely knocked from the game, desire always remains. The mighty can show up, but they can often rise again.
