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| Author: | Hambrick, D. C. Aveni, R. A. d' |
| Title: | Large corporate failures as downward spirals. |
| Journal: | Administrative Science Quarterly
1988 : MAR, VOL. 33:1, p. 1-23 |
| Index terms: | COMPANY FAILURES LARGE BUSINESSES USA |
| Language: | eng |
| Abstract: | Large bankruptcies and survivors as well as the dynamics of major corporate failure are examined. Four major constructs have been selected for study: domain initiative, environmental carrying capacity, slack, and performance. Significant features of the downward spiral included early weaknesses in slack and performance, extreme and vacillating strategic actions, and abrupt environmental decline. The downward-spiral model is illustrated with a case example. Light is shed on major debates and dilemmas in the fields of organization theory and strategy regarding why major firms fail. |
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