The Self-Destructive Habits of Good Companies June 16, 2008 ... And How to Break Them (Wharton School Publishing, $24.99)
How does a thriving company come undone? Jagdish N. Sheth, a chairman of marketing at Emory University, addresses this question in The Self-Destructive Habits of Good Companies, an eye-opening examination of tendencies that keep highly-successful businesses from adapting to a changing market. Analyzing the downfalls of prominent corporations like GM, AT&T and Kodak, the book describes how destructive habits often manifest themselves during what seem like the best of times. While it doesn't cover every addiction, the book deals with some of the most common ones, including denial, arrogance and complacency, as well as ones more specific to business, like volume obsession and the territorial impulse.
By focusing on the "what can go wrong," the book gives readers confidence for the future, instilling a sense of what can be done in order to maintain success – one of the central themes of the book. Unlike more pessimistic analysts, Sheth asserts that companies can sustain profits indefinitely as long as they possess a willingness to adapt to change, as well as follow the author's principles for doing so.
That said, The Self-Destructive Habits of Good Companies isn't meant for the casual reader. Each section relates detailed histories of a business succumbing to a bad habit that requires attention-to-detail and a sharp mind. But it's worth the effort. The attentive reader will acquire a rich understanding of how businesses can continue to flourish.
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