Re: What SINGLE factor MOST contributed to the demise of Packard?

Posted by Steve203 On 2015/3/1 17:24:10

So in the end I think Packard management just plain sucked.

So we come back to hubris. The Mason thing, if true, could compound blind arrogance, but companies can run themselves into the ground without that added factor.

I worked for a corporation where I was doing financial models.

I have worked at several places where I alternately laughed at management, and shook my head in amazement.

Of those companies: one was bought out and the honchos I knew were shown the door, the largest one went bankrupt a month ago and is being liquidated, the next largest one will be merged out of existence within the year by a better run competitor.

The common thread at all these companies was an insular management that thought it knew everything and rejected anything that conflicted with their view of the world.