How the Mighty Fall

In 'How the Mighty Fall', Jim Collins explores the reasons behind the decline of once-great companies.

Through a four-year research project, Collins identifies five stages of decline: Stage 1: Hubris Born of Success, Stage 2: Undisciplined Pursuit of More, Stage 3: Denial of Risk and Peril, Stage 4: Grasping for Salvation, and Stage 5: Capitulation to Irrelevance or Death.

The book offers leaders practical advice on how to detect early signs of decline and reverse their course to avoid failure.

Collins emphasizes that decline is often self-inflicted and that understanding these stages can help companies avoid or recover from decline.