The Five Stages of Decline- JIm Collins
This is Jim Collins’s summary of his 5 stages of decline. These stages can cause both personal and professional decline and must be recognized before its too late. Unfortunately, to paraphrase Socrates, the examined life is extremely rare and most people do not take the time to study the scoreboard of life. Here is your opportunity to study Collin’s list and see which area you can improve. STAGE 1: HUBRIS BORN OF SUCCESS Great enterprises can become insulated by success; accumulated momentum can carry an enterprise forward for a while, even if its leaders make poor decisions or lose discipline. Stage 1 kicks in when people become arrogant, regarding success virtually as an entitlement, and they lose sight of the true underlying factors that created success in the first place. When the rhetoric of success (“We’re successful because we do these specific things”) replaces penetrating understanding and insight (“We’re successful because we understand why we do these specific things