How the Mighty Fall: And Why Some Companies Never Give In

Jim Collins asks how great companies fall, and whether decline can be detected early and reversed. His research identifies five stages of decline: hubris born of success, undisciplined pursuit of more, denial of risk and peril, grasping for salvation, and capitulation to irrelevance or death. Collins argues that decline is largely self-inflicted and that companies can recover, sometimes even from the fourth stage.