10 Commandments for Business Failure by Donald R. Keough

By Donald R. Keough

From Publishers Weekly A former president of the Coca-Cola corporation, Keough has assembled an enviable Rolodex in his eighty one years, and his booklet counts invoice Gates, Jack Welch and Warren Buffett between its champions. His classes draw upon his lengthy and sundry career—from his early days as a philosophy significant to his first task as a television activities announcer and employment at Butternut espresso and Coca-Cola—and include an inventory of tongue-in-cheek principles certain to make the follower a real loser in enterprise: from hand over taking dangers and be rigid to do not take time to imagine and be frightened of the longer term. Keough helps his commandments with tales of industrial blunders and screw ups, either his own—the roll-out of latest Coke, for example—and these of others—namely, Schlitz beer and IBM. whereas the author's transparent and inspiring tone and renown in the enterprise neighborhood will most likely garner his attempt exposure, the unoriginality of the material—all regular business-book fare easily phrased within the negative—keeps this well-meaning e-book from status out or supplying unique recommendation to enterprise leaders available in the market for a bit self-improvement. *(Aug.)* "" Copyright © Reed enterprise info, a department of Reed Elsevier Inc. All rights reserved." From Booklist Keough, a distinguished company govt, deals a viewpoint on failure that's specially acceptable to leaders who've attained a point of luck. With a foreword via his longtime buddy and affiliate Warren Buffett, the well known investor, the writer provides a bankruptcy on every one of his 10 commandments for failure and provides an advantage bankruptcy approximately how wasting ardour for paintings and for all times is a undeniable path to disaster. His failure commandments contain cease taking hazards; be rigid; isolate your self; suppose infallibility; play the sport as regards to the foul line (which bargains thoughtful commentary on ethics); don’t take time to imagine; placed your whole religion in outdoors specialists; love your forms; ship combined messages; and be terrified of the long run. Keough’s e-book is wealthy with examples of failure, and he provides suggestion on the best way to get over blunders whereas studying from them and relocating forward. this is often a great e-book with important perception for company executives and people meaning to company management. --Mary Whaley

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The planes got bigger and faster but the pace of innovation in the business itself slowed to a crawl. Protected for decades from the vicissitudes of the free market by strict government regulations, they forgot how to be entrepreneurial businesspeople. They became rigidly inflexible in how they did business even when confronted with ever-mounting losses. They kept doing the same things over and over again, with the same dismal results, sliding in and out of bankruptcy, making the same promises of better management and improved efficiency.

You say to yourself, “I’ve been out on a limb all my life… worrying, losing sleep. Let somebody else do that now. ” Some might conclude that the risk taken by the startup entrepreneur who mortgages his house and everything else in order to try a new idea or even pioneer a whole new industry is the most difficult kind of risk to take. Four out of five new businesses fail. Most new products never make it out of the test market, and if they do they have only a one in thirteen chance of success. The National Federation of Independent Business Research Foundation estimates that after just five years only half of new businesses with employees are still operating, and many of those at a loss.

This disease can strike at age forty. You say to yourself, “I’ve been out on a limb all my life… worrying, losing sleep. Let somebody else do that now. ” Some might conclude that the risk taken by the startup entrepreneur who mortgages his house and everything else in order to try a new idea or even pioneer a whole new industry is the most difficult kind of risk to take. Four out of five new businesses fail. Most new products never make it out of the test market, and if they do they have only a one in thirteen chance of success.

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