Read full text: https://www.palladiummag.com/2024/08/30/when-the-mismanagerial-class-destroys-great-companies/
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Since 2021, Intel’s revenue has crashed by a third. Since 2018, Boeing’s has fallen by a quarter. Sony’s revenue hasn’t meaningfully grown since 2008. It is easy to tell when a company stalls or stumbles. But it takes a meticulous, in-depth investigation to determine whether such failings are evidence of organizational dysfunction, or just the temporary setbacks and necessary hurdles that any competent organization might face. When failures can be traced to bad strategy or structure, the mistake’s origin might already be decades in the past. It is remarkable that three modern-day high-tech companies, at the tops of very different fields, all made catastrophic strategic errors apparently as soon as they put outsiders to the company’s technical tradition of knowledge in charge. They are unlikely to be the only similar cases in the global economy