Each company and the man himself admits, sometimes failing, seemingly mistakes. But if it is really a failure or a good experience for the development shows a wonderful book of Laurence G. Weinzimmer and Jim McConoughey “The Wisdom of Failure”.
5 small stories from the book will help you to understand that the business mistakes can make each person, above all it’s important to analyze them and make the necessary conclusions
Do not be afraid to admit failure and leave the matter of his
News Corp. has invested $ 580 million on MySpace acquisition in 2006, and invested in the social network additional millions of dollars. Facebook, yet became more successful, and MySpace was sold only by $ 34 million.
“Healthy” Cigarette or contrary to tradition
The company of the production of tobacco R.J. Reynolds spent $ 1 billion on the production of cigarettes with lower nicotine content – Premier. But it turned out that smokers can not stand the smell. Absurd? – Conclusion!
Luxury products can not tolerate “easy money”
LA Gear President of the company for four years, raised the sales of sports shoes with $ 11mln to $ 820 million, using a variety of marketing methods. In the pursuit of profit began to sell shoes at discounted prices in each store, thus reducing the attractiveness and prestige of the brand.
Do not allow competitors to define the strategy of your company
Coca-Cola has responded to the provocation Pepsi «The new generation chooses Pepsi» and released in response to a very bad drink New Coke, which was a huge failure in the history of the brand business.
Keep your attention on the main product of the company, which brings a good profit, and is widely known among consumers
Netscape company trying to develop a new programming language, lost sight of their first widely popular browser, ignoring his improvement. This was an error on a billion $.
No business is immune from mistakes, but by analyzing the negative experience, you can protect your company from such failures.
Also read: Does Ukraine refuse to continue oil business in Egypt?
Company Continues Strategic Expansion Adding New Service Capabilities, Talent, and Broadening Nearshore Footprint SAN JOSE, Calif.—January 5, 2023— GlobalLogic Inc., a Hitachi Group Company and Digital Engineering Leader, today announced the acquisition of Hexacta, a Pan-Latin-America digital and data engineering company. The acquisition is part of GlobalLogic’s continued strategy to expand its offerings, and its […]
Last year, the global medical device market reached $532.62 billion, according to Mordor Intelligence. Ukrainian engineers are involved in the projects of key players, which occupy almost 10% of the market. This share can be estimated at 50 billion US dollars*. Domestic specialists create more than a hundred software solutions of various levels. These include […]
Новий власник Twitter Ілон Маск доручив інженерам попрацювати над перезавантаженням Vine, яке може бути готове до кінця нинішнього року. Про це повідомляє Axios. Зазначається, що інженерам компанії необхідно вивчити стару кодову базу відеосервісу, яка не змінювалася та не оновлювалася з моменту закриття, а саме з 2016 року, коли з’ясувалося, що майданчик не витримує конкуренції. Втім, одне з […]
Credit Agricole has been ranked first in the social responsibility rating of the banking sector, created by Standard-Rating based on the 2022 half-year results. The rating agency commended the bank’s contribution to the economy of Ukraine. The bank has paid UAH 100 million in taxes in advance, while issuing UAH 1.2 billion in loans under […]
From October 1, drivers must turn on the dipped headlights of the car outside the city. This helps to additionally mark the vehicle in conditions of low visibility within the autumn-winter period. GlobalLogic reminds about the importance of compliance with traffic rules and tells about the developments of Ukrainian engineers that affect road safety. In […]
Intellias, a global software engineering and digital consulting company, has announced the completion of its acquisition of Digitally Inspired, a fast growing, UK based peer, focusing on the Retail and eCommerce industry. “I am delighted to welcome the Digitally Inspired team to Intellias. It is symbolic that Intellias’ twentieth anniversary coincided with signing an agreement […]
3×4, a Web3 fundraising platform for non-profits, has been launched in Ukraine to bring innovative crypto & NFT fundraising to the rising number of social impact causes. 3×4 helps non-profit organizations to fundraise utilizing NFTs in collaborations with artists and brands while providing donors utility, revenue and transparency. The idea of 3×4 was born in […]
At a meeting of the Joint Commission on International Road Transport Union, Ukraine and Poland agreed to allocate 5,000 additional permits for Ukrainian carriers for 2020. Vladyslav Kryklii, the head of the Ministry of Infrastructure announced it on Friday, November 20 on his Facebook page. “Our carriers will receive the first permits in early December. […]
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Microsoft will stop supporting Windows 10 on October 14, 2025. This was reported by the company’s press service. Thurrot writes that this means the date of the “death” of Windows 10. The publication adds that the new generation of operating system, which Microsoft will present next week, will not be called Windows 10, at least, […]
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As Yaroslav Levitskyi, Pro Agro Company analyst mentioned, in this season the India could be one of the three potential buyers of Ukrainian wheat. Now it the one of the biggest importer of Ukrainian sunflower oil and the pea. The main reason for it is a lacking volume and high local wheat price in India. […]
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In Ukraine, for seven months of this year, vehicle production collapsed by 40% compared to the same period in 2019 – up 2122 units. This is stated in the message of the association Ukravtoprom. Bus production in Ukraine in January-July 2020 decreased by 31% compared to the same period in 2019 and amounted to 311 […]
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On Wednesday, Boeing announced the financial results of the 2nd quarter, which ended on June 30. Boeing Management noted that the company makes “tough, but necessary steps to adapt for a new realities of market.” Aviation giant is experiencing perhaps the most difficult times in its history, faced with a double crisis. On the one […]
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The European Union has launched an antitrust investigation against Google to determine whether the company has violated EU rules by giving priority to advertising its services to the detriment of competitors. The Financial Times reports. According to the European Commission, the investigation will find out whether Google undermines competition rules by restricting third party access […]
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As a result of a recent cyber-attack on the servers of the American mobile operator T-Mobile US, hackers stole the personal data of millions of users, said a subsidiary of the German telecommunications giant Deutsche Telekom on Wednesday, August 18. The stolen information included names and surnames, social security numbers, birth information, driver’s license data, […]
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The Cabinet of Ministers of Ukraine has shortened the moratorium on certain types of tax inspections. The Cabinet of Ministers of Ukraine has shortened the moratorium on certain types of tax inspections. The press service of the Ministry of Finance announced this on Wednesday, February 3, citing a relevant government decree. According to the document, […]
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Mercedes-Benz is recalling more than 1.3 million vehicles due to malfunctions of the emergency call system. It is noted that Mercedes-Benz previously learned about the accident in Europe, when the automatic emergency call system sent the wrong signal about the location of the car. The company launched an investigation in October 2019 and identified other […]
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Shares of Ford Motor Co dropped to 1.93% on Friday after the closing of trading on Thursday, automaker reported results of achievement in three months from April to June. Since the beginning of the year, Ford shares have fallen by 28.9%. Ford Motor reported second-quarter losses of – $ 0.35 per share, which is better […]
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The “Billa-Ukraine” Company was restrainted the exploitation of the ground floor of an apartment house №27 on the Chornovil street in Kyiv, where on April 27, 2016 the opening of the supermarket was planned. This decision was concluded by the Shevchenko district court on April 21. As reported the initiative group of the residents, the […]
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Ukraine has repaid a $ 350 million loan to Deutsche Bank AG London ahead of schedule this week, Interfax-Ukraine reports citing a source. Including interest, the payment was about $ 354 million. Ukraine took this loan in December last year for up to six months at a rate of up to three-month LIBOR + 5.75%, […]
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Another bank is under the threat of extinction in the new 2017. At this time we are talking about the Ukrainian financial institution Narodnyi Kapital. According to the text of the NBU decision , the bank will be liquidated due to the structure’s discrepancy to state requirement relatively its clarity. According to official information, in […]
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Everyone has heard about Sweden from childhood, as it was Stockholm where the well-known fairytale heroes The Kid and Carlson lived. Let’s add here favorite of all IKEA, the band ABBA, cars of Volvo and Scania, companies like Spotify, Ericsson, H&M, Electrolux and μTorrent – the vision of the nation is made up of pieces. […]
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World debt will reach $ 200 trillion, which is 265% of world product, but the debt crisis is not yet expected. This was reported by Reuters, citing the forecast of analysts of the international rating agency S&P Global. It is claimed that this year the debt-to-world debt ratio has risen by 14% as a result […]
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The direction of the Chinese “Anhui Foreign Economic Construction Corporation” expressed interest in the construction of the grain processing plant in the territory of Ukraine, the products of which will be exported to China. This was said by the vice-president of the “Anhui Foreign Economic Construction Corporation” Zhang Zhonghua at a briefing in the framework […]
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