Dr Zvezdan Horvat, head of Adizes Institute Worldwide, delivered a workshop on why companies fail, which was devoted to an explanation of the successful moves made by firms – and those that are less so.
Dr Horvat began by explaining the difference between effectiveness and efficiency, since understanding this distinction was crucial for the successful development of any firm or corporation. Zvezdan highlighted that success was only possible by working on what the market wanted, so that a company’s size or age were not crucial factors of success, but flexibility and control were. In other words, a company was only as successful as it was innovative.
The second part of the workshop was devoted to steps leading to company failure and demise, in particular excess effectiveness, ineffective management, poor organisational structure, external loss of control, and lack of integrity.
Zvezdan concluded the workshop by claiming that the crowning glory of any work were taking risk and being creative, which were both closely linked to achieving results.
