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Yeah so much for Good to Great, companies that are supposed to be long-term winners and yet 2 years later Circuit City was already showing severe strain, and 7
by nowarninglabel 13y ago
Yeah so much for Good to Great, companies that are supposed to be long-term winners and yet 2 years later Circuit City was already showing severe strain, and 7 years later it was completely bankrupt.
- swalkergibson 13y agoOf course, hindsight is 20/20 and there are without question issues with a number of companies on that list. However, that does not change the manner in which the leadership of the companies viewed their contemporary success and how it came about. I found it extremely interesting that such high-level leaders could swallow their pride and attribute success to good fortune. It is trivially simple to dismiss luck as a huge factor due to our own egos being in the way, and the fact that these people were so publicly adamant about their lucky streak suggests to me a level of humility rarely seen in that echelon of executive power.
- jtbigwoo 13y agoWurtzel stepped down as CEO in 1986. He was still on the board after that, but it was his successors that made the decisions that brought Circuit City down. (As a board member you could argue that he was accountable, but things like Divx and the commission/salary disaster were not his decision.)