Learning from Mistakes

Hassan Qudrat-Ullah

Chapter Chapter 11 in Mastering Decision-Making in Business and Personal Life, 2025, pp 363-400 from Springer

Abstract: Abstract This chapter explores the transformation of significant failures into successes by prominent companies such as Apple, Toyota, Netflix, and Ford. It highlights the financial impacts of these mistakes, including Apple’s near bankruptcy in the 1990s, Toyota’s 2010 recall crisis, Netflix’s controversial service split in 2011, and Ford’s Edsel launch failure in the 1950s. Each case study demonstrates how these companies learned from their mistakes, implemented strategic changes, and emerged stronger. The chapter underscores the importance of resilience, adaptability, and continuous improvement in achieving long-term success, providing valuable lessons for businesses facing similar challenges.

Keywords: Apple Inc.; Toyota motor corporation; Netflix; Ford motor company; Near bankruptcy; Recall crisis; Service split; Edsel launch; Financial impact; Mistakes; Strategic changes; Resilience; Continuous improvement (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-81068-8_11

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DOI: 10.1007/978-3-031-81068-8_11

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