Will Your Next Mistake Be Fatal? : Avoiding the Chain of Mistakes That Can Destroy Your Organization

Rating:
Summary: Excellent material and so relevant for today's businesses...
Review: As I was part of one of the biggest corporate mistakes in U.S. history, I thought it would be interesting to read Will Your Next Mistake Be Fatal? by Robert E. Mittelstaedt, Jr. I wasn't disappointed... This should be required reading in all organizations.

Chapter list: The Power of M3 and the Need to Understand Mistakes; Execution Mistakes; Execution Mistakes and Successes as Catalysts for Change; Strategy - How Do You Know It's a Mistake?; Physical Disasters with Cultural Foundations and Business Implications; Cultures that Create "Accidents"; Mistakes as Catalysts for Cultural Change; Economics at Work: Watching Entire Industries Lose It; Mistakes Aren't Just for Big Companies - Small Company Chains; Making M3 Part of Your Culture for Success; Summary of Insights; References; Index

I started working for Enron Broadband back in 1998 when it first got going. I was laid off on September 1st, 2001 when the Portland office closed. Little did any of us know that the entire company would melt down just three months later. Did they plan for that to be the culmination of all their actions? No, but no one in power saw the signs and had enough courage to stop the string of mistakes that ultimately doomed the company. Mittelstaedt uses Enron and numerous other companies to show how a culture of tolerating mistakes can lead a company to the brink of disaster (and many times right over the edge). But instead of just concentrating on "when bad things happen to good companies", he also covers how strong leadership can allow a company to survive and prosper in adverse conditions (like J&J's handling of the Tylenol tampering case). There's a lot of material here that is excellent reading and should cause organizations to ponder their ways.

There are 38 "insights" that summarize the main teachings and help the reader to focus on making the necessary changes for success. Insights such as "fly the airplane" and "you cannot afford even a whiff of an ethical lapse" are easy to remember and should quickly bring you back to a proper attitude for running a successful and thriving organization. Oh, and the "M3" you see in the chapter list refers to "managing multiple mistakes". Once you start to implement a systematic approach to M3, you won't guarantee that your company will never make an error or misstep again. But you will be assured of not letting things get totally beyond control.

Excellent book, and it's so very relevant to today's business environment. A highly recommended read...

Rating:
Summary: First systematic framework on managing mistakes
Review: Dr. Mittelstaedt is the first to provide a comprehensive, systematic framework called M3 that helps to manage mistakes so they don't lead to disaster. Leaders could use M3 to identify warning signals, build systems that prevent 'failure chains' from spiraling out of control and ultimately mobilize company's resources to prevent mistakes.