Companies fail for a number of reasons. These could be failure in several areas and not just significant few. Sometimes, companies are reinvented after a massive setback. Strategies are reworked and modifications are made to accommodate better functioning and positive results.
People are a core part of any company. Be it a full time working group or freelancers, the way people lead and operate is mostly what determines the fate of any startup. Companies that are driven by a certain DNA in the business find it difficult to adjust to changes and upgrades. People fall apart, leave and the companies are left coping with recovery and management of attrition.
Why do companies fail? Most times, it is also the expectations that are born behind the idea. While some companies are founded on the basis of sheer passion, others are established to make money. It is always predictably delightful to realize that the ones that run with passion are the real winning horses in the game.
Well known business strategist Knut Haanaes literally dissects the debate in this TED talk. The fact that most companies fail because of the lack of fine balance between expectation and innovation is effectively conveyed in this presentation. A must watch for the startup rookies who constantly face volatile situations in the everyday running of their business.
Is it possible to run a company and reinvent it at the same time? For business strategist Knut Haanaes, the ability to innovate after becoming successful is the mark of a great organization. He shares insights on how to strike a balance between perfecting what we already know and exploring totally new ideas — and lays out how to avoid two major strategy traps.
Published author, dreamer, entrepreneur and believer. When not running Contenuto, her freelance content vendor firm and writing the next novel, Deepa loves to catch up on her favorite US TV Shows. Loves spending quality time with her family and constantly hallucinates some 'me' moments in a far far away Austria.