04 Apr Unit 10 journal
13364Introduction: In today’s business world, much acclaim is given to companies with high-flying success. If they go into decline or failure, they are often quickly replaced by rivals and they fade from the scene. However, there are valuable lessons to be learned regarding where the business faltered and why it eventually failed. The research of James Collins and his team led to their development of five stages that leaders often go through when their companies fail.
Answer the short essay questions based on the learning activity. Then respond to the short essay question (2 or 3 paragraphs for 20 points.)
Five Steps to Failure
Read the fictional scenario and then address the questions.
Scenario (fictional):
eTablet was founded by Gregor Stavinslov in 2008 while at MIT in Boston, Massachusetts. Gregor was a highly skilled, disciplined professional with superior computer skills and knowledge, besides knowing everyone in Silicon Valley. Because he knew everyone and was highly respected for his vast knowledge, when he created the eTablet, he had no problem getting initial investors. The eTablet combined the best voice recognition software in the industry with an easily held tablet that adjusted in size to the person’s hand.
Gregor worked tirelessly with his founding team of four in pursuit of market share with excellent results. People were lining up to join his company and so it was not difficult at the start. Gregor got the company steaming along and the media were quick to take note. Before he knew it, Gregor was being interviewed on all the news shows, constantly being interviewed by magazines and newspapers, and he began to neglect spending time at his company. He began pushing the executives to get more investors as he was going to expand operations across the globe.
One or two of his original co-founders felt this was not the time to look for additional investment or to expand, but to consolidate and inspire the employees through vision. Gregor felt he was on a roll and his success was guaranteed. He received several calls over the next few months from his financial director and production and marketing directors, informing him of a lack of direction to inspire the employees towards better products. The human resources consultant called to ask him what could be wrong since twenty employees walked out the door last month. Gregor said that it must be the economy, who needed those employees anyway, and that there were plenty more out there who wanted to work for him!
Soon investors started putting pressure on him to show greater profits and industry analysts were calling him asking for an explanation of some recent lackluster results. Gregor, in turn, changed his approach when communicating with his managers and executive team. Instead of asking what new innovations were in development, he was now demanding perfection in terms of the existing product, saying, “There is just no room for error! We need to assure our investors of the quality product we are putting out! Our products should be better than any other computer companies, never mind tablet maker out there! If someone is making a mistake on the line, I want them fired immediately. I did not create a brilliant success only to have some half-wit ruin the results!”
As a result, the managers started putting extreme pressure on all of the employees for perfection. This resulted in no new products being developed because everyone was afraid to make a mistake. Gregor finally realized something was wrong when a major investor pulled out. Gregor decided to purchase a new internet translation company thinking it would put more “zing” into the company’s perception and its products. Unfortunately, this effort was not successful. Soon other investors looked for the exit as well, and Gregor spent the next several months wondering what happened.
Discuss why the company failed according to your reading in Chapter 19.
At what level of performance was Gregor (see page 511)?
What part of Collins’ five-stage process of failure did eTablet and the founder experience?
What personal attributes of the founder contributed to the company’s decline?
What would you have done as Gregor to get the company on the right path to success?
This assignment will be submitted to Turnitin™.
Please refrain from using AI. Thank you.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.