How to succeed in identifying failure : Tips for top people in finding out what went wrong

Purpose – To help top managers correctly identify sources of decline or difficulties in the business. Design/methodology/approach – The author, who has conducted research on corporate turnaround attempts, identifies ways in which top managers can come up with incorrect or incomplete answers to problems – and advises how to avoid these mistakes. Findings – Grasping the real reasons for their organization's decline may be difficult for many top executives, particularly those who do not listen to the opinions of entry level employees and customers who have taken their business elsewhere. Practical implications – Guidelines are provided for managers to follow when searching for the source of an organization's decline. Originality/value – Practical advice, based on real situations, for diagnosing organization failure.