Several people suggest that for attaining business success, one must focus on some famous stories that give you the whole context of the failure of some initiatives, ideas, management styles, inability to manage the environmental factors, competitive strategies, etc. The details of such failure stories can lead to excellent research results in terms of the realistic causes of the failure concerned.
Debi
A difficult question. The one which come to me immediately is Apple's Newton. Steve Jobs wanted people to carry a small computer everywhere. It is the Personal Digital Assistant (PDA) and in 1989 was revolutionary. It was able to recognize real handwriting. The Newton was released to a lot of hype and expectation. Unfortunately the hardware was not up to the point in 1989 as a result it failed. Come 2001 when the first I pod with a different theme as a music machine was released it was a runaway success. That led to a number of other Apple products iPhone and iPad.
Debi
A difficult question. The one which come to me immediately is Apple's Newton. Steve Jobs wanted people to carry a small computer everywhere. It is the Personal Digital Assistant (PDA) and in 1989 was revolutionary. It was able to recognize real handwriting. The Newton was released to a lot of hype and expectation. Unfortunately the hardware was not up to the point in 1989 as a result it failed. Come 2001 when the first I pod with a different theme as a music machine was released it was a runaway success. That led to a number of other Apple products iPhone and iPad.
A certain young family member of mine started his career in government as an aide to several senators in the U.S. Senate. One of his senators became a member of the Senate Banking Committee, and so his aide, my relative, added economics to his new knowledge of politics.
Eventually this relative of mine learned to serve as liaison between government, business, and universities. The U.S. President found out. The President began announcing these initiatives to different businesses and universities as if the ideas had emerged from the Presidential head. No recognition was given to the aide, no promotion. This was the failure of the story.
So the young family member of mine decided to leave government and to join a new, cutting edge business seeking to promote liaisons between itself, the government, and universities. Given the young man´s know-how acquired while working as a Senatorial aide, he was able to create his own position with a vice presidential title at a high salary and is now advancing new relationships between the business he joined, government, and universities. This is the exponential success.
Henry Ford is interested in developing gasoline powered horseless carriage while working at Edison. He formed the Detroit Automobile Company (later the Henry Ford Company) in 1899. Ford was not satisfied with his design and continue to improve it. His partners forced Ford to leave the company in 1902. (After his departure, it was reorganized as the Cadillac Motor Car Company.)
In 1903, he established the Ford Motor Company, and five years later the company rolled out the first Model T. Ford introduced a number of innovations in manufacturing such as large production plants, the use of standardized, interchangeable parts and world’s first moving assembly line for cars. He had such a large influence in 20th century economy.
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