This posting should be a minimum of one short paragraph and a maximum of two paragraphs. Word totals for this post should be in the 100–200-word range. Whether you agree or disagree, explain why with supporting evidence and concepts from the readings or a related experience. Include a reference, link, or citation when appropriate.
Watch the following video about some of the worst business decisions ever made:
For your reference, here’s a list of the ten business mistakes identified in the video:
- Blockbuster declined to buy Netflix
- Western Union turned down a chance to buy the patent on the telephone
- Publishers turned down Harry Potter
- AOL and Time Warner merger
- Firestone refused to recall faulty tires and lost Ford partnership
- 20th Century Fox granted George Lucas rights to Star Wars films and merchandise
- Atari said no to Apple computer
- Kodak sat on first digital camera too long
- NBC vs. Conan and Leno
- RCA diversified too much
Pick one of the examples from the video, or research your own example (if you do this, please provide at least one supporting link). You may also choose to do more research on the example you chose. Then answer ALL of the following questions about the decision you chose:
- What barriers do you think the decision-makers faced? Can you identify any biases that might have influenced their decision?
- What tools or processes do you think the decision-makers could have used to avoid the bad decision? Be specific about why you think the tools or process would have led them to a different decision.
- Put yourself in the decision-maker’s shoes. Do you think you would have made the same mistake? Why or why not?