Every day we see changes happening all around us, especially in the organizations where we work. Change is difficult for most, especially in organizations that have been doing the same thing and in the same way for an extended period of time. How we and the organization respond to internal and external pressures often determines whether or not the company will succeed. Having the foresight to recognize the need for change and the courage to implement change are essential skills required of any leader.
Watch this video “Brands that Failed” which lists 18 brands that failed to change. Some are from the distant past and some are more current, but all either failed to recognize the need for change or acted too slowly resulting in the worst case scenario – failure of the organization or brand.
Select two companies from the video. For each company selected, answer the following questions:
What major change or changes did the company fail to make that contributed to the brand or company’s demise? Were the pressures to change internal or external?
Was the need for change foreseeable and if so, why do you think the executive team failed to take action?
What are some actions the CEO and executive team could have taken to prevent the the brand or company from failing?
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