Wednesday, July 23, 2008

The Ten Commandments For Business Failure by Donald Keough

Yesterday, while I was at Kinokuniya at KLCC waiting for a friend, I was browsing the book. Really enjoyed the time I get to spend in book store, just that I haven't been doing that frequently.. :(

Saw a book near the entrance of Kinokuniya. The title is "The Ten Commandments For Business Failure" by Donald Keough, former President and Chief Operating Officer of Coca-Cola. You can see the book from Amazon .

Somehow this book is not even released in US yet. It is going to be released on 24th July 2008, but somehow Kinokuniya did have it already.

It is an interesting book, where Donald shared on 10 (or in fact 11) characteristics that would most likely cause business to fail. He tried to argue that there is no formula for success, but there is formula for failure.

I am going to share the 10 (+1) key points he highlighted, which is sure to doom on business.

1. Quit taking risk
2. Be inflexible
3. Isolate yourself
4. Assume infallability
5. Play game close to foul line
6. Don't take time to think
7. Put faith in consultants
8. Love bureaucracy
9. Send mixed message
10. Be afraid of future
11. Lose passion for work & life

It is interesting to read that Donald Keough actually lived across the street from Warren Buffett, both in the little town of Omaha. Two billionaires and world renowned figure across the road.

Donald talked about how he had good mentor since his early stage of career. And how his CEO (when he was President and COO), delegated task to him, but in the end, never delegated the CEO position to him...hahaha...

It is a refreshing reading for this book, and I am just half way done...So guess, this weekend, I have to get myself to book store again to read. :)

If any of you have read this book, do share your thoughts!

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