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.
Apple has intensified work on its own search service, which will become a competitor to Google, writes the Financial Times, citing interlocutors in the mobile industry. One of the signs of this, the interlocutors called the fact that after updating the iOS operating system, Apple began to show its own search results and provide direct […]
American chipmaker Advanced Micro Devices Inc (AMD) is buying rival Xilinx Inc for $ 35 billion under a deal that it will be paid for in full by AMD shares. According to a press release from AMD, the operation will create a company worth about $ 135 billion. “The acquisition of Xilinx will allow AMD […]
Oil becomes cheaper due to a sharp increase of reserves in the US and an increase in the number of coronavirus cases, which has raised fears of oversupply and weakening demand. This is evidenced by the data of stock trading on the site Investing.com published on Wednesday, October 28. In particular, the price of December […]
In the last week of October, investors expect a lot of news, as more than one-third of the components of the S&P 500 index, or 186 companies, must report financial results for the third quarter. The information field is even richer given the election race in the United States, the situation with the pandemic and […]
Shares of Zoom Video Communications, which rose 716% over the past 12 months, rose 5.8% during trading on Monday, but closed with an increase of 1.23%. This is very different from the general decline in the market on Monday – major US stock indexes closed lower: the S&P 500 by 1.86%, the Dow Jones by […]
Shares of Pfizer decreased by 3.2% since the beginning of the year, fell by 1.65% on Tuesday after the company announced the results of the third quarter, which ended on September 30. Pfizer reported a 4% drop in earnings per share (compared to the same quarter in 2019) to $ 0.72, but this was slightly […]
The President’s Office stated that the decision of the Kyiv District Administrative Court (KDAC) to dismiss NABU Director Artem Sytnyk could not be considered final, as it would be appealed. This was announced on Tuesday, October 27 by the press service of the President’s Office. The President also noted that any differences over anti-corruption bodies […]
Next year, only a small proportion of people in the European Union will be able to get the coronavirus vaccine. Officials in European countries have not yet decided on the vaccination of citizens. This was announced by Reuters on Tuesday, October 27. “By the end of 2021, there will not be enough doses of the […]
Apple has patented the new method with the help of the smartphone will be able to repair damage to the display. Such technology can be implemented in the iPhones of the future generations with the flexible displays. The display will be covered with the layer of the elastomer which has highly elastic properties and viscosity. […]Next
Today Wells Fargo, the fourth-largest U.S. bank, reported record losses of $2.4 billion in the second quarter, which was even worse than the bank management and Wall Street analysts expected. For the three months by June 30, Wells Fargo’s loss was $0.66. This is $0.46 worse than analysts’ forecast of $0.20 loss per share. One […]Next
Commercial Court of Kiev took to attention the case of the right’s deprivation of Farmak Ukraine on the use of certificates for signs for Diazolinum goods. It is reported by a specialized news resource Pharma.net.. A prerequisite to the beginning of the litigation was an appeal of representatives of the international distributor of Farmat LTD […]Next
The company PepsiCo announced the best results of its third quarter, which ended on September 5. Shares of the PepsiCo have fully recovered after the falling in February and March due to the coronavirus pandemic and show the increase of 1.4% since the beginning of the year and 17.34% over the past 6 months. Shares […]Next
According to Interfax-Ukraine, Volodymyr Groysman met with Don Grantham yesterday. The Prime Minister of Ukraine discussed with Microsoft Central & Western Europe President the possibility of using modern technologies in the process of implementing reforms in Ukraine. Groysman said that Ukraine was hard up in technologies decisions. The authority is ready to cooperate with the […]Next
Shares of the British-Swedish pharmaceutical company AstraZeneca on the London Stock Exchange (LSE) are down 1.69% after reports of stopping trials of the corona virus vaccine, according to trading platform data. Securities lost 1.69% in value, dropping to 82.07 pounds sterling. The basic index of the British stock market FTSE 100 on Wednesday traded in […]Next
Mobile operator lifecell sold its sister company telecommunication towers in Ukraine. The Ukrtower Company will pay minimum $ 52 million plus taxes for 811 objects. This is stated in the message of the owner of the company – Turkish Turkcell Holding. According to the report, the resolution on the transaction was carried by the Turkish […]Next
After a sensational debut Snowflake on the NYSE on Wednesday, shares of the cloud storage and processing company are expected to fall ahead of trading on Thursday. Shares of Snowflake fell to 4.3%. Snowflake brought 28 million shares to the public market to raise $ 3.36 billion during the largest software IPO in history. Shares […]Next
President of Ukraine Petro Poroshenko said that by the end of January, the state expects financial aid of $ 100 million from the Swiss Confederation, which approved the allocation of this amount of money. Money must be received at the National Bank account. This information was published by Ukrainian portal InVenture. Swiss President Doris Leuthard […]Next
In the second quarter of 2020, Japan’s economy shrank by 7.8% over the previous three months. Such preliminary official data was published by Trading Economics. It is noted that the fall of GDP was recorded for the third consecutive quarter and became a record, due to the negative impact of the COVID-19 coronavirus pandemic. At […]Next
US Employees of Facebook were allowed to work in a remote location by June next year. Most Facebook personnel were switched to remote mode in late March, and in April, CEO Mark Zuckerberg said that it is the last among of those to resume working in the office at the end of a pandemic of […]Next
Ukraine will allocate 2.6 billion hryvnias for the purchase of a coronavirus vaccine. This was stated by Finance Minister Serhiy Marchenko at the press conference on Monday, September 14. “By 2023, we have a real opportunity to ensure health care spending at 5%. There is an increase in 2021 to 4.2% of GDP for health […]Next
Chip maker, Advanced Micro Devices, is in talks to buy a rival chip maker – the American company Xilinx, reported The Wall Street Journal. The deal might be exceeding to $ 30 billion and could be announced for the next week. The merger will become one of the largest transactions in the industry this year, […]Next
American chipmaker Advanced Micro Devices Inc (AMD) is buying rival Xilinx Inc for $ 35 billion under a deal that it will be paid for in full by AMD shares. According to a press release from AMD, the operation will create a company worth about $ 135 billion. “The acquisition of Xilinx will allow AMD […]Next
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 […]Next
Lviv Bus Plant (LAZ) won the case from the communal enterprise Kyivpastrans in payment for delivering to the communal enterprise trolleybuses for over 118 million UAH in 2012. On March 16, the Kiev Commercial Court ordered the Kievprastrans to pay Lviv Bus Plant (LAZ) Ltd. more than 118 million UAH for the delivered trolley buses, […]Next