Once attained, there’s no guarantee of repeat success for any of us, but we can help keep the odds in our favor by learning from the mistakes and misfortunes of others. Here are some valuable lessons of what NOT to do:
Many feel that Amazon is a key factor in the continuing struggles of Best Buy, taking business away from it with better prices, selection and service. Technology watcher Robert X. Cringely thinks otherwise. He thinks that Best Buy’s shrinking market share is really just the outcome of what Best Buy has done to itself. Read Cringely’s take here: Amazon.com isn’t killing Best Buy; blame Best Buy IT .
I had not shopped at Penney’s in years. After CEO Ron Johnson was fired for his radical remaking of the brand, my curiousity got me to visit my local Penney’s store, where I pleasantly surprised by the its layout, lighting and products. What went wrong with Johnson’s transformation? Find out more in this article, The 5 Big Mistakes That Led to Ron Johnson’s Firing.
Jeff Kindler should be successful. He had prestigious degrees as an honors graduate from Tufts University and magna cum laude graduate from Harvard Law School. He clerked for Supreme Court Justice William J. Brennan Jr. and worked at the law firm Williams & Connolly in Washington, D.C. He then moved to the corporate sector as Vice President and Senior Counsel for General Electric Co. and later as Executive Vice President of Corporate Relations and General Counsel for McDonald’s.
Yet, when he was elevated to the position of CEO at Pfizer, he made expensive mistakes and lacked a sense of management. Read what fatal mistakes Pfizer ex-CEO Jeff Kindler made that resulted in him losing his job.
Here is an article from Forbes about 5 CEO’s who have made BIG mistakes and deserve to be fired.