A degenerative disease will not be cured by procrastination.
It requires decisive action.
There are, indeed, quite a few CEOs who have successfully changed their theory of the business. The CEO who built Merck into the world’s most successful pharmaceutical business did so by focusing solely on the research and development of patented, high-margin breakthrough drugs, then radically changed the company’s theory by acquiring a large distributor of generic and nonprescription drugs. He did so without a “crisis” while Merck was ostensibly doing very well.
We can’t rely on miracle workers to rejuvenate an obsolete theory of the business. And when one talks to these supposed miracle workers, they deny vehemently that ...
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