Most executives shudder at the word failure and try to avoid thinking about it. No wonder there are thousands of books about successful companies but More

Most executives shudder at the word failure and try to avoid thinking about it. No wonder there are thousands of books about successful companies but virtually none about the lessons to be learned from those that crash and burn. Paul Carroll and Chunka Mui think theres enormous value in learning from companies that lost millions (if not billions) in pursuit of strategies that led to spectacular flameouts. Everyone makes mistakes, but why make the same mistakes over and over? The authors studied the most significant failures of the last twenty-five years: 750 bankruptcies, major writeoffs, and discontinued operations. They found that the #1 cause of failure was misguided strategy not sloppy execution, lack of leadership, or bad luck.
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These losses may not come as a surprise to most of us, but it shocked Wall Street analysts. Most analysts underestimated Morgan Stanleys losses by More

These losses may not come as a surprise to most of us, but it shocked Wall Street analysts. Most analysts underestimated Morgan Stanleys losses by $1.8 Billion! Thats not a minor mistake. Are analysts intentionally being overly optimistic in their forecasts to prevent a stock market melt down? Or are they just really bad at forecasting? You tell me.
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