Why Did Company Succeed or Fail?
<Tab/>The business world has never encountered change so rapidly as today. Taking an retrospective look at the businesses globally in the most recent hundred years, well-known multinationals failed, or even disappeared, however there are some still performing brilliantly. The question for consideration: what determined the success and failure of these companies ? How to distinguish whether a company is growing or shrinking? What measurements should be employed? According to Thompson L. John (2001, P. 135), "an organization is successful if it is meeting the needs and expectations of its stakeholders, such that their support and commitment are maintained." However to measure performance of a business, merely focusing on the stakeholders is insufficient. A more comprehensive set of measures which cover stakeholders is provided by Thompson (2001, P.158) - A holistic framework of measures shown in Figure 1.1. Basing on this framework, I use existing/existed companies as examples to illustrate key factors that determine a company's success/failure; the key strategy they believed in; the steps taken to implement it; and the method of measurement for success/failure.…
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