brandknewmag.com
36
Each year the editors of 24/7 Wall St. publish a list of 10 brands they believe will disappear
within the next 18 months. Although the list is not always spot on, its predictions are as shrewd
as they are daring. Some of the names slated for demise before 2014 may surprise you:
Barnes & Noble’s (BKS) Nook e-reader, Road & Track magazine, and Olympus (7733:JP), to
name three.
How can brands that were once hot growth properties (not to mention media darlings) fall
off the face of the earth? Obvious reasons include being outmaneuvered by competitors,
getting hit unduly hard by economic events, or missing the boat on innovation, as research
performed by my firm has shown. Less well known: cracks in corporate culture that come
about as a byproduct of expansion. As an organization prospers, the team must expand
along with it, and that’s when the cracks begin to appear.
Culture is an interesting phenomenon in business. It’s powerful—affecting hiring, retention,
quality, and myriad other factors—but not something you control. It’s organic but doesn’t
always grow in the direction you would hope. And while it’s initially established by the
people at the top, culture quickly takes on a life of its own.
Most growing companies miss the early warning signs of cultu