Now I understand,
Why Facebook took over Whatโs up at an extremely high valuation at that time?
Because they didnโt want to become one more Orkut.
Because there is no place of ignorance on Facebook.
๐๐ฒ๐ฐ๐ฎ๐๐๐ฒ ๐ถ๐ ๐ถ๐ ๐ฟ๐๐ป ๐ฏ๐ ๐ต๐ฎ๐ฝ๐ฝ๐ ๐ฒ๐บ๐ฝ๐น๐ผ๐๐ฒ๐ฒ๐, ๐ป๐ผ๐ ๐ถ๐ด๐ป๐ผ๐ฟ๐ฎ๐ป๐ ๐ฒ๐บ๐ฝ๐น๐ผ๐๐ฒ๐ฒ๐.
Do a root cause analysis of all the successful companies which failed.
Nokia’s growing bureaucracy and deep internal rivalries prevented them from recognizing the shift from product-based competition to one based on platforms.
Kodak invented the first digital camera but failed to market it.
Lehman Brothers collapsed because the management thought they know better than anyone else.
Take any company for that matter,
If we do the drill-down analysis, the companies fail because of ignorant employees.
They think they are too smart.
They ignore the upcoming challenges or changing trends of the business.
How do you identify such employees and how do you change them or remove them from the system?
Please comment
Source
https://knowledge.insead.edu/strategy/the-strategic-decisions-that-caused-nokias-failure-7766
https://knowledge.wharton.upenn.edu/article/the-good-reasons-why-lehman-failed/