Anyone who knows me very well knows that I’m a huge Jim Collins fan. His two classic leadership books, Good To Great and Built To Last, should be required reading for any leader in any kind of organization. So when I heard that he had a new book out, I was on board to read it ASAP, which I was able to do during my summer break.
My opinion of Collins hasn’t changed a bit after reading How The Mighty Fall. This should be required reading for every leader. It’s a brilliant, compact view of the five stages of decline that an organization goes through as it fails:
Stage 1: Hubris born of success
Stage 2: Undisciplined pursuit of more
Stage 3: Denial of risk and peril
Stage 4: Grasping for salvation
Stage 5: Capitulation to irrelevance or death
Whenever I read Jim Collins I’m always struck with his dedication to staying true to your core values and principles. Again, that’s probably my biggest take away from this new book. It’s the abandonment of core values because of pride, lack of discipline or some last ditch, desperate attempt at salvation that most often leads to failure.
At the end of the book Collins says, “Be willing to change tactics, but never give up your core purpose. Be willing to kill failed business ideas, even to shutter big operations you’ve been in for a long time, but never give up on the idea of building a great company. Be willing to evolve into an entirely different portfolio of activities, even to the point of zero overlap with what you do today, but never give up on the principles that define your culture. Be willing to embrace the inevitability of creative destruction, but never give up on the discipline to create your own future. Be willing to embrace loss, to endure pain, to temporarily lose freedoms, but never give up faith in the ability to prevail. Be willing to form alliances with former adversaries, to accept necessary compromise, but never—ever—give up your core values.”

Recent Comments