Tag "decline of Kodak"

‘Politics’ of failure

Nokia’s once-stellar performance was undermined by misaligned collective fear: top managers were afraid of competition from rival products, while middle managers were afraid of their bosses and even their peers. It was their reluctance to share negative information with top managers—who thus remained overly optimistic about the organization’s capabilities— that generated inaccurate feedback and poorly adapted organizational responses that led to the company’s downfall.*

It is not just Nokia, but many others who have fallen prey to complacency and turned risk-averse. New technologies are growing pervasive by the day and organizations can ill-afford to ignore its implications.

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