Table of Contents
Praise forBillion-Dollar Lessons
This book identifies the seven strategies that sound safe, but have tripped up some of the smartest leaders of otherwise successful companies. Learn from their expensive mistakes. L. Gordon Crovitz, former publisher, The Wall Street Journal
It is a lot easier to talk about our successes than our failures. Carroll and Mui have written a book that helps us get serious about learning from our failures, as painful as it may be. And they give us some good ideas to help avoid future failures.
Michael Moskow, vice chairman and senior fellow for the Global Economy, The Chicago Council on Global Affairs
Billion-Dollar Lessons is a must-read for any manager contemplating a game-changing investment. It will help ensure winners, not losers. It will help create, rather than destroy value.Adam Gutstein, CEO, Diamond Management and Technology Consultants
Billion-Dollar Lessons provides a set of tough questions and ideas to help us avoid making big strategic mistakes. Perhaps the biggest question is whether we choose to learn from others mistakes. Daniel Roesch, director, General Motors Strategic Initiatives
Mui and Carroll have developed a methodology to keep your business healthy. Through extensive research on real world companies, the authors have identified seven strategies that will likely make your business sick. Then they tell you, in a compelling and accessible way, how to avoid them like the plague.
Martin Nisenholtz, senior vice president, digital operations, The New York Times Company
This book draws you in with engaging stories of smart experienced leaders delivering spectacular failures. The insights and learning are essential for every modern manager and leader who wants to win in the twenty-first century.
Toby Eduardo Redshaw, global CIO, Aviva
Paul Carroll and Chunka Mui show how to avoid the catastrophic strategic failures that have laid low so many companies over the past few decades. More important, they point the way for making decisions that will help you confront the reality of your future business. Reading this book is like having a wise strategy consultant at your side every step of the way.
B. Joseph Pine II and James H. Gilmore, coauthors of The Experience Economy and Authenticity: What Consumers Really Want
A fascinating compendium of well researched corporate screw-ups and how to avoid, learn from, and mitigate against them.
Gordon Bell, principal researcher, Microsoft Research
Replete with thoroughly researched, well known and not so well known, entertaining but sometimes horrifying stories and anecdotes, Billion-Dollar Lessons should be mandatory reading for every senior manager and public company director.
Mel Bergstein, chairman, Diamond Management and Technology Consultants
Read and learn about the costly mistakes of others; it could save you tremendous time and money. In fact, Billion-Dollar Lessons might yield the best return on any time investment you will ever make.
Vince Barabba, general manager (retired), corporate strategy and knowledge development, General Motors Corporation
As someone who has had many failures and learned some of my most significant business lessons from them, I gained business insights from the billion dollar lessons Paul and Chunka detail in their book.Robert Pasin, CEO, Radio Flyer
A lot of huge business mistakes have been made over the years, and it sure makes sense to try not to reproduce the mistakes of others. Why not cash in on the tuition others have paid to be educated? There is a huge amount we can learn from these stories.
David S. Pottruck, chairman, Red Eagle Ventures
Youll want to read this book more than once in order to assimilate both the insight into human behavior and the wisdom it offers to avoid costly mistakes of your own.
Kim Volk, president and CEO, Delta Dental Plans Association
Carroll and Mui have trumped conventional wisdom with two new ideas: to increase our odds of success, we need to study failure, and even the most intense focus on execution doesnt deliver if you have a failed strategy. A must-read for executives who intend to aggressively build their companies.Glen Tullman, CEO, Allscripts
An engaging guide to improve the quality of both bet the company decisions and everyday ones. Drawing insights from notable flawed decisions, Carroll and Mui identify practical steps to counter the forces of human nature, which are powerfully arrayed against rational analysis.
M. Carl Johnson, III, senior vice president and chief strategy officer, Campbell Soup Company
Chunka and Paul expose the lack of critical analysis and thinking that sits behind many of the strategic clichs we use to justify big deals. If you are considering a big strategic move, read this book first.Rick Leander, chief strategy officer, The Clearing House
Billion-Dollar Lessons rigorously analyzes the biggest failures of the past decades and delivers not only practical advice on what to avoid, but also invents the devils advocate processwhich you can implement to stop your own organization from happily going off a cliff.John Sviokla, vice chairman, Diamond Management and Technology Consultants
Billion-Dollar Lessons provides an outstanding framework for creating positive dissent and asking the best questions. All leaders want to do great things; hopefully this book will help smart leaders to cast a critical eye on some of our great ideas and avoid hubris.
Jennifer F. Scanlon, vice president and CIO, USG Corporation
If you believe that those who do not study history are doomed to repeat it, Billion-Dollar Lessons will help you learn from the strategic mistakes made by well-respected business leaders in the past. Time and time again, world-class companies execute flawed strategies. Remember the definition of insanity: Doing the same thing again and again but expecting different results.Eric Sigurdson, leader, CIO Practice, Russell Reynolds Associates
Without question, many M&A deals are driven by haste, ignorance, and hubris, others by real insight and intelligence. Billion-Dollar Lessons gives wise council to those who can create or destroy hundreds of millions of dollars of net worth with the stroke of a pen.
Michael Boyle, senior vice president, CIO AF Technology, Allstate Financial
A thoughtful account of how egos have obscured good business judgment. The business world could better use history and facts as a guidepost.
John Chu, senior vice president, Hartford Financial Services Group, Inc.
Growing and managing successful companies is an exercise that is grounded in pattern recognition. Billion-Dollar Lessons is an amazing collection of case studiespatternsdemonstrating the many ways in which executives and their companies have derailed.
Doug Collom, partner, Wilson, Sonsini, Goodrich & Rosati
Having been involved in many transactions during my career, I found the analysis and conclusions to be very accurate, and a must-read for any person continuing to do transactions. Morgan Davis, CEO (retired), White Mountain Insurance Company
An important contribution to understanding the causes of major corporate strategic failures of the last few decades, complete with a pragmatic approach to avoid these strategic mistakes.