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LinkedIn: What causes a company to fail? 
(see "related link", below)

"No matter how we choose to define "failure", there seems to be three common causes:

(1) I believe that the number one reason why companies fail today is because few know how to recognize talent & promote from within. An MBA from Harvard is no substitute for a home-grown account who knows both your business model, as well as your industry. Also, unlike yesterday's "Peter Principle", another problem today is that someone who is competent at what they are doing is simply too valuable to promote?

(2) Next, companies stumble when they can no longer define, refine, support, and / or market a clear company (or business unit) mission statement.

(3) Finally, the inability to understand, obtain, and / or support pro-active mission support and / or delivery personnel is also far too common these days.

In retrospect, I also see that more "missions" than ever are failing simply because folks have far-outsourced their trust to cheap and / or inexperienced talent.

Yet in general, one typically only gets what one pays for. Indeed, well before our present problems with far-outsourced meltdown, 80% of all IT Projects failed. --Can anyone possibly expect that number to DECREASE when adding opposing languages, time-zones, cultures, as well as thousands of miles, into the mix?"

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