Book Report Day: How the Mighty Fall, by Jim Collins, Stage 2. Dougie: wanting more, so I'll invent a product a day. Abe: Rubbermaid tried; it aimed at a new product every day and choked on nearly a thousand in three years. Scarf: then they couldn't fill the orders. First loss in decades in 1995, nine plants closed, sold to Newell on October 21, 1998. Tommy learned something today: big does not equal great. Dougie: I'll invent two a day.
In Stage 2 of How the Mighty Fall, Jim Collins tells how Rubbermaid, then one of America's most admired companies, aimed to launch a new product every day, choked on nearly a thousand in three years while raw-material costs nearly doubled, stopped controlling costs and filling orders on time, reported its first loss in decades in the fourth quarter of 1995, closed nine plants and cut 1,170 jobs, and sold out to Newell on October 21, 1998: frantic innovation, not laziness, sank it, and big does not equal great.
On the book: How the Mighty Fall by Jim Collins
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How the Mighty Fall: And Why Some Companies Never Give In
Jim Collins, distributed by HarperCollins · Jan 1, 2009
