TITLE

Clinging to the past dooms businesses to failure

AUTHOR(S)
Hense, Paul A.
PUB. DATE
January 2009
SOURCE
Grand Rapids Business Journal;1/19/2009, Vol. 27 Issue 3, p13
SOURCE TYPE
Periodical
DOC. TYPE
Editorial
ABSTRACT
The author contends that the reason for the failure of the Big Three automobile companies, General Motors, Chrysler and Ford Motor, based in Michigan was their unwillingness to let go of their business model. He illustrates how greed, arrogance and sense of entitlement were passed down by these automobile firms in 50 years of generation-to-generation of management. He compares this attitude of the Big Three to that of monkeys who would not let of a bait to free themselves up. He explains that markets change and the Big Three should change as well.
ACCESSION #
36335132

 

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