Faith Middleton Show: Billion Dollar Lessons

The Biggest Reasons Businesses Fail

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Billion Dollar Lessons
Faith Middleton Show: The Biggest Reasons Businesses Fail
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Faith Middleton Show: The Biggest Reasons Businesses Fail

International Business Machines Corporation lore says that, in the early
1960s, CEO Tom Watson Jr. summoned to headquarters an executive
who was responsible for a venture that lost $10 million. Watson, whose
fierce temper was legendary, asked the man if he knew why he’d been
called in. The man said he assumed he was being fired. Watson responded:
“Fired? Hell, I spent $10 million educating you. I just want to be sure you
learned the right lessons.”

(from the book Billion Dollar Lessons)