Why Most Things Fail - Hardcover

Ormerod, Paul

Hardcover

ISBN 10: 0571220126 ISBN 13: 9780571220120

Publisher: Faber and Faber, 2005

Synopsis

From the best-selling author of The Death of Economics and Butterfly Economics, a ground-breaking look at a truth all too seldom acknowledged: most commercial and public policy ventures will not succeed. WorldCom, Enron, Yamaichi, Equitable Life, Andersen, Parmalat, Shell . . . Around the world, corporate scandal - and full-scale collapse - has caught the headlines in a spectacular way, and investors avidly search for scapegoats. We all express surprise at such catastrophes - yet extinction is an inherent fact of life, and failure comes calling at the door of companies both gigantic and small. Over 17,000 companies will go bust this year in the UK alone. But is this a bad thing? And if so why does the US, with its hugely dynamic economy, see more than 10 per cent of companies disappear each year? In his inimitable fashion, Paul Ormerod draws upon recent advances in biology to help us understand the surprising consequences of the Iron Law of Failure. And he shows what strategies corporations, businesses and governments will need to adopt to stand a chance of prospering in a world where only one thing is certain.

About this title

Review

‘Punchy and entertaining ... The real importance of what Ormerod is saying goes far beyond economics... Exhilarating.’ -- Brian Appleyard, New Statesman

From the Back Cover

Failure is the most fundamental feature of biological, social and economic systems. Just as species fail and become extinct so do companies, brands and public policies. And while failure may be hard to handle, understanding the pervasive nature of failure in the world of human societies and economies is essential for those looking to succeed.

Linking economic models with models of biological evolution, Why Most Things Fail identifies the subtle patterns that comprise the apparent disorder of failure and analyzes why failure arises. Throughout the book, author Paul Ormerod exposes the flaws in some of today′s most basic economic assumptions, and examines how professionals in both business and government can help their organizations survive and thrive in a world that has become too complex. Along the way, Ormerod discusses how the Iron Law of Failure applies to business and government, and reveals how you can achieve optimal social and economic outcomes by properly adapting to a world characterized by constant change, evolution and disequilibrium.

Filled with in–depth insight, expert advice and illustrative examples, Why Most Things Fail will show you why failure is so common and what you can do to become one of the few who succeed.

Edition details

• Publisher: Faber and Faber
• Publication date: 2005
• ISBN 10: 0571220126
• ISBN 13: 9780571220120
• Binding: Hardcover
• Language: English
• Number of pages: 272