How The Mighty Fall-A Book Review


Jim Collins, renowned business consultant and author of Built to Last, and Good to Great, identifies five major stages of decline of a major business organization.

They are identified as follows:

Stage 1: Hubris Born of Success

Stage 2: Undisciplined Pursuit of More.

Stage 3: Denial of Risk and Peril.

Stage 4: Grasping for Salvation.

Stage 5: Capitulation to Irrelevance or Death.

I recommend his book, How the Mighty Fall, to obtain his detailed perspectives on each stage. Below I review his summary of the components of each stage. Note the critically important fourth stage as being characteristic of a large portion of BigLaw firms today.

Apply these five factors to the recently demised large law firms you are familiar with. Then apply them to your own.

Think about the applicability of these factors to any announced mergers/alliances, as to both parties. The next five months of November through March, in the environment of continued pressures brought in part by difficult economies, and exacerbated by years of bad decisions by the leadership of some firms, may prove to be one of the most challenging in the last several decades.

(Reprinted with permission of The Daily Journal Corp, copyright (2012).)

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Edwin Reeser, Edwin B. Reeser, A Professional Law Corporation | Attorney Advertising

Written by:


Edwin B. Reeser, A Professional Law Corporation on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.