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While the content does not provide specific examples of companies that have successfully implemented the practices outlined in the Global Crossing case, it's important to note that many companies have learned from Global Crossing's failure. These companies conduct their own analyses and do not blindly follow market trends or overvalue their stocks. They maintain a realistic understanding of their industry dynamics and competition. Companies like Google, Amazon, and Apple are examples of such companies that have successfully implemented these practices.
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If you can maintain composure and 'keep your head', even while those around you lose theirs, you are at a great advantage, Rumelt writes, who warns not to put blind faith in the stock market. He uses the example of the telecommunications industry and details a time around the beginning of the 21st century when everybody else had blind faith in the company Global Crossing, whose stock was grossly overvalued given the dynamics of its industry. This included the ease of entry for competitors, as it was not as hard as it seemed for others to do what Global Crossing was doing. In 2001, the company filed for bankruptcy amid an inability to keep up with bandwidth capacity — something that was clear to anyone that had looked close enough. Despite what everyone else thinks, conduct your own analyses, and do not be swayed by social herding. Keep your head.
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Even some of the world’s biggest organizations do strategy poorly, and incorrectly credit their success to personal decision-making skills. We read th...
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