What can we learn from failed international companies?

Joseph Amankwah-Amoah and Hongxu Zhang

MPRA Paper from University Library of Munich, Germany

Abstract: Purpose – The purpose of this paper is to examine how organisational closure can inform strategic foresight. Design/methodology/approach – We draw insights from illustrative cases, i.e. Swissair, Sabena and Cameroon Airlines to illustrate our theoretical analysis. Findings – The study shed light on the effects of internal and external factors in precipitating business closures. We established that top executives’ hubris, resistance to change and over-reliance on external consultants are some of precursors to organisational closure. Research limitations/implications – Our analysis provides a range of strategies that organisations can pursue to learn from other firms’ closure and improve their survivability and chances of future success. Originality/value – In spite of a growing body of literature on strategic foresight and organisational closure, the literature has largely developed in isolation and as such our understanding of the relationship between strategic foresight and organisational closure as remained severely limited. The paper integrates these two streams of research to enrich our understanding of how firms can learn from others to improve their strategic foresight.

Keywords: Business; failure:; strategic; foresight (search for similar items in EconPapers)
JEL-codes: L1 L2 M0 M2 (search for similar items in EconPapers)
Date: 2014, Revised 2014
New Economics Papers: this item is included in nep-cse
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