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The archers how the mighty fall.

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Newsletter and book review of How the mighty fall by Jim Collins …

Newsletter and book review of How the mighty fall by Jim Collins
strategy and management success tips
Empire business simulation training

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  • 1. IS S UE 2 MA Y 20 11 How ng Readi Time The Mighty Fall? INSIDE THIS ISSUE: Book Review: How the Mighty Fall. 1&2 Management Success Tips 3 Empire Business Simulation 4 Archer Consulting Cooperation with FEPS & CEFRS 5
  • 2. BOOK REVIEW How the Mighty Fall, and Why Some Companies Never Give in Jim Collins, III (born 1958, Boulder, Colorado) is an American business consultant, author, and lecturer on the subject of company sustainability and growth. He frequently contributes to Harvard Business Review, Business Week, Fortune and other magazines, journals, etc. He is also the author of several books: How the Mighty Fall: And Why Some Companies Never Give In, Built to Last: Successful Habits of Visionary Companies, and Good to Great. When you are at the top of the world, the most powerful nation on Earth, the most successful company in your industry, the best player in your game, your very power and success might cover up the fact that you’re already on the path to decline. How the mighty fall is a little bit like a staged disease, such as cancer. Unfortunately, with a disease like cancer you can look good on the outside but be unhealthy on the inside. Early on, symptoms are hard to detect but when found, they can be treated & the disease cured. In the later stages, the symptoms are much easier to detect, but it’s much more difficult to cure the cancer. However, there’s one giant difference between the stages of organizational decline & a disease like cancer. Cancer is not self‐inflicted whereas in our study of great enterprises that fell, the stages of decline were self‐inflicted. 5 Stages of How the Mighty Fall Stage 1: Hubris Born of Success Success doesn’t necessarily carry the seeds of failure, but hubris (over confidence) born of success does. When success leads to arrogance, this is the real prototype of falling. Stage 1 kick in when people lose sight of the true underlying factors that created success in the first place. When the rhetoric of success (“We’re successful because we do these specific things”) replaces insight (“We’re successful because we understand why we do these specific things & under what conditions they would no longer work”), decline will very likely follow. Stage 2: Undisciplined Pursuit of More Hubris from Stage 1 (“We’re so great, we can do anything!”) leads right into Stage 2, the Undisciplined Pursuit of More – more growth, more acclaim, more of whatever those in power see as “success.” Companies in Stage 2 making undisciplined leaps into areas where they cannot be great or growing faster than they can achieve with excellence. When an organization grows beyond its ability to fill its key seats with the right people, it has set itself up for a fall. Stage 3: Denial of Risk and Danger In this stage, numbers go down, & risks show signs of not paying off. Although everything looks fine on the outside, there are warning signs internally & you deny them. The ability to combine faith & facts is key to leading through this stage. When those in power begin to imperil the enterprise by taking outsized risks and acting in a way that denies the consequences of those risks, they are headed straight for Stage 4. THE ARCHERS Page 1
  • 3. Stage 4: Grasping at Salvation During Stage 4, You’re being pulled down by gravity. You & everyone else can see it & you no longer can deny it. It is determined, not in falling, but in how you respond. When you respond to falling by looking for the next silver bullet, you may produce an initial energy of hope, but your solution won’t have staying power. Nothing will increase people’s faith quicker than false hope dashed by reality over & over again. Greatness never gets built with a single event, leader, or program. You keep pushing in a consistent direction until eventually the flywheel has tons of momentum. Stage 5: Capitulation to Irrelevance or Death Seeing that some of the most powerful enterprises ever built went into Stage 5 should give us tremendous humility. Just because we haven’t yet fallen “yet” doesn’t mean we will not. When you reach stage 5, you’ve passed the point of no return. The longer a company remains in Stage 4, repeatedly grasping for silver bullets, the more likely it will spiral downward. Accumulated setbacks & expensive false starts erode financial strength & individual spirit to such an extent that leaders give up all hope of building a great future. Is There a Way Out? 1. we do ourselves a disservice by studying only success. We learn more by examining why a great company fell & comparing it to a company that sustained its success than we do by merely studying a successful enterprise. Better to learn from how others fell than to repeat their mistakes out of ignorance. 2. Second, this could be seen as a work of well-founded hope. For one thing, with a roadmap of decline in hand, institutions heading downhill might be able to apply the brakes early & reverse course. For another, we’ve found companies that recovered, coming back even stronger! Never give in. Be willing to change tactics, but never give up your core purpose. Be willing to kill failed business ideas, but never give up on the idea of building a great company. Be willing to embrace loss, to endure pain, to temporarily lose freedoms, but never give up faith in the ability to prevail. THE ARCHERS Page 2
  • 4. Management Success Tips Think GREEN Operating a green business is not only good for the environment but good for your business's bottom line because conserving resources and cutting down on waste saves money. Go green by: Turning off equipment Encouraging communications by email Reducing fax-related paper waste THE ARCHERS Page 3
  • 5. Empire Business Simulation One of the main challenges in business life is risk. Either manager takes too much risk thinking that the positive return will cover the negative challenges, or he is afraid to take risk which will result in a freeze situation. Taking the right level of risk is a decision which requires talent, knowledge, exposure, and people skills. Can you imagine that a pilot after taking the theoretical part of flying to jump into an Airbus and to start to take off claiming that he has the knowledge of flying? Mostly the results will be a crash. That is why simulations were invented. The Concept of Simulation is simple, to practice or to simulate real life situation in a safe environment. You can know, test & practice the analysis, reaction & execution of the person. In business, training programs & MBA are the main tools for knowledge transfer and to analyze case study to understand the rational behind decision other people made. Lately other tools were developed to form the reality check for knowledge acquired and to practice the real management of organizations. These tools can vary from standards simulation to detailed tailored dynamic simulation. In business there are many simulation types such as, computer-based, board-based and online. Each of these has advantage and disadvantage and different scope. Archer provides different kinds of skills of simulation such as: Empire, Retail Rush, Leisure Time and Tailored Simulation Empire is a computer-based business simulation that allows the participants to practice strategic and business decision/analysis and their effects on performance. Empire passes through the following process: Analyze, Decide, Plan then Execute. Key Benefits During the simulation, participants will be exposed to many critical issues in managing a successful business, among these issues are: Business Vision and Strategy Management Control Decision Making Competitor Analysis Performance Assessment Forecasting and Planning Financial Analysis and Statements Marketing and Market Research The Impact of Borrowing Sales Force Management Stock, Research and Advertising Business Ethics In order to overcome these challenges, skills will be needed and applied exactly as real life situations, such as: leadership, teamwork, time management, decision making, communication, culture understanding and analytical skills. THE ARCHERS Page 4
  • 6. Archer Consulting in co-operation with Faculty of Economics and Political Science (FEPS) and Center for Economic and Financial Research and Studies (CEFRS) agreed to work jointly on different projects to improve investment awareness and fighting business corruption. FEPS, CEFRS and Archer Consulting will work on the following initiatives: 1. A Transparent Economy: An initiative financed by Siemens to educate and create public awareness about fighting insider traders in the stock market, and transparency from the listed companies and required level of Corporate Governess. 2. The Investment Analyst: Develop an Investment program targeting investment and financial analysts covering company valuation, investment and portfolio management and corporate finance. 3. The Stock Market Analysis Diploma: A two years diploma, covering all aspects of stock market, investment management, corporate finance and sourcing of finance. 4. The Feasibility study & Project Evaluation Diploma: A two years diploma, covering basic process of feasibility study, project evaluation and feasibility methodology and approach. 5. The Internship Program: Selected students will be given internship to work at Archer Consulting during the summer. THE ARCHERS Page 5
  • 7. pon d Wea cate ife iness L n Bus i isti d Soph ive an ect Eff e Most h T Archer Contacts 11 Mohamed Abou Salem St., Almaza, Cairo, Egypt. Tel.: +202 2290 1827 Fax: +202 2424 2215 Mob.: +2012 8 95 95 95 E-mail: Info@ArcherEgypt.com www.ArcherEgypt.com

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