Things to Think About 082
“My successor will need one other particular strength: the ability to fight off the ABCs of business decay, which are arrogance, bureaucracy and complacency. When these corporate cancers metastasize, even the strongest of companies can falter.” Warren Buffet in the Berkshire Hathaway 2014 Annual Report
Buffett goes on to cite the examples of General Motors, IBM, Sears Roebuck, and U.S. Steel as examples of companies whose leaders thought they were too powerful, too financially strong, too big, to falter—but they did.
Your business doesn’t have to be a Fortune 500 company to be affected by the “ABCs” of business decay. If, on one end of the spectrum, there is the cause of this corporate cancer, and on the other end is the cure for it, to which end is your company headed?
Till next time…