The lack of unity within RIM had a significant impact on its growth and stability. The leaders of the company were engaged in activities outside of the company that sent the wrong message to investors, employees, and other stakeholders. This lack of focus and unity led to a decrease in investor confidence and employee morale, which in turn affected the company's growth and stability. The leaders' external pursuits, such as attempts to acquire NHL franchises, distracted them from the core business, leading to strategic missteps and ultimately contributing to the company's decline.

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Losing the Signal

The Kodak of smartphones, RIMs rise and fall, is an epic tale of how relationships, patents, lack of unity, and the wrong strategic plan led to the fa...

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As RIM battled scandals and a whole host of new competitors, its leaders began to engage in activities outside of the company that sent the wrong message to investors, employees, and other stakeholders. Balsillie began to pursue his dream of owning an NHL franchise. He was determined to bring a team to Canadian soil. This did not sit well with NHL executives. He had two failed attempts at acquiring teams – first the Pittsburg Penguins in 2006, and then the Nashville Predators in 2007, but it was the $212.5 million deal for the Phoenix Coyotes that ultimately sealed the coffin on his NFL dreams. "He had lots of money and celebrity, but he tried to strong-arm the league as if he was outfoxing the likes of Nokia and Palm."

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A startup can avoid the mistakes made by RIM by focusing on a few key areas. First, maintain a clear focus on the core business and avoid distractions. RIM's leaders were distracted by pursuits outside of the company, which sent the wrong message to stakeholders. Second, ensure unity and alignment within the leadership team. Lack of unity at RIM contributed to its downfall. Third, have a strategic plan that is adaptable to changing market conditions. RIM's inability to adapt to the rise of smartphones was a major factor in its decline. Lastly, manage relationships and patents effectively. RIM's fall was partly due to issues in these areas.

RIM faced several obstacles when trying to compete with new competitors. One of the main challenges was the distraction of its leaders who were engaged in activities outside of the company. This sent the wrong message to investors, employees, and other stakeholders. To overcome these challenges, RIM's leaders needed to refocus on the company's core business and develop a strategic plan that could effectively compete with new entrants in the market. However, the distractions, such as the pursuit of owning an NHL franchise, proved to be a significant obstacle in their path.

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