How great companies commit suicide

Allan Leighton
Going Plural

Business used to be dead easy. Today, however, businesses operate at one of two extremes. Either utopia is just around the corner, or it's the apocalypse and everything's going to implode around us. The middle bit has disappeared. We are at the edges and we have a choice about which one of those two we end up in.

Every big failure was once a huge success

At Marks & Spencer, the billions of pounds of profit turned into profits warnings in a relatively short period of time. Asda, when I joined it, had a billion pounds of debt. We were about to breach all our banking covenants, there were no likeforlike sales, and 40,000 people thought they were going to lose their jobs.