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Due to the Yin and Yang nature of strategy or execution, it is much more likely that they both fail or both succeed, than only one of them is flawed
Turnaround CEOs and Equity Analysts are fond of declaring “the company’s strategy is right, but was executed poorly. We just need to focus on execution now.” I always wonder how do they know? If it was not executed, why are they so certain the strategy was right?
A disaster-prone culture that incubates blow-ups is directly linked to how top management transmit earnings pressure to their subordinates.
Every quarter brings stories of new blow-ups where losses have been hidden until they have snowballed, sometimes destroying the company.