This resulted in poor organization overall, poor management, and a massive failure. Instead, the two businesses failed to make sure that their organization was compatible. AOL had an online audience, Time Warner had a television audience, and putting the two together would allow for a larger consumer reach. The merging of AOL and Time Warner in 2001 is widely noted as one of the largest business fails in history and this one mistake cost two companies and $99 billion. Meerkat simply focused on the wrong thing and fizzled out. When it comes to social media, the user experience is everything. The problem that befell Meerkat is that despite the millions it received in funding, much of that was spent on celebrity endorsement rather than creating a great user experience and sense of community. Meerkat rolled out just before Twitter launched Periscope and Facebook implemented this same feature shortly after. Have you ever heard of Meerkat? What about Periscope? Both of these are live-broadcasting social media apps. If a company can’t value its workers, the workers aren’t going to care about their jobs, and value will just continually dwindle. The employees didn’t care about the company that didn’t care for them, leaving retail locations poorly maintained and only adding to the already poor reputation. Sears didn’t take care of its employees, with little room for advancement or increases in pay. That reputation, of course, is what killed it. Over 100,000 jobs have been lost and Sears has a negative reputation. Sears was the department store back in the day but now, it has shut down more than half of its stores in the past decade. Eventually, poor profit margins on what they could sell coupled with a loan they couldn’t repay took down what was once the go-to place for electronics. Electronic sales started happening online and RadioShack decided to stick to its guns and didn’t even try to implement any form of e-commerce. There were several problems that contributed to the business eventually filing for bankruptcy, forcing it to close locations at a rate of over 200 per year, but there is one glaring mistake that stands out. RadioShack existed for almost a century before meeting its downfall. In this list, you’ll read about ten companies that failed due to just one mistake. But, on the flip side, there are plenty of businesses that can’t keep up and will die out sooner rather than later. That is an extremely stressful prospect, so many businesses go through very careful planning to make sure that they can remain afloat and rise to the top. If one company can’t execute itself well, another one will quickly pop up and take its place and its profits.
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