What does Frickle Frackle mean
Are You Mindful of the Fickle Factor?
Everyone loves a good rags-to-riches story, but have you ever noticed how many people also devour stories of how the mighty have fallen?
The latest example is a once glorious retail king that rose from humble beginnings and now finds itself battling to keep its crown. A fast-fashion juggernaut is learning the hard way how a Kingdom of Commerce called the Shopping Mall is now under siege from a fickle, unforgiving and most fearsome enemy. It's a sobering lesson for what happens when a brand refuses to change and places a premium on growth, scale and expansion before eventually collapsing under the weight of massive inventory and bloaty ambition.
With the recent news ofForever 21 taking the plunge into bankruptcy court, this tragic tale of a self-inflicted catastrophe could serve as a wake-up call to help some leaders avoid a similar fate.
There is a heavy price to pay for blind worship at the altar of Speed, Scale & Growth without any regard for the value of Vision.
Nothing will paralyze our ability to see the future like something the ancient Greeks called hubris (/ ˈhjuːbrɪs); a personality that displays extreme or foolish pride or dangerous overconfidence. Today, we label this characteristic as being arrogant.
South Korean immigrants Jin Sook and Do Wan Chang worked their share of low-paying service jobs before launchingForever 21in 1984, eventually amassing an estimated net worth of nearly $ 6 billion. They were still opening mall locations as late as 2016, failing to anticipate the looming retail apocalypse that began in 2017. Did the couple fall victim to a dangerous hubristic cocktail of overconfidence and overambition? Did they eventually overdose on the cocaine of high of power and success?
Custer lost at Little Big Horn because he believed he was smarter than his opponent.
America lost in Vietnam because they believed military might could solve everything.
Challenger was lost because NASA bigwigs believed their own propaganda.
The crash of 2008 happened because highly-educated Wall Streeters believed they were too big to fail.
For centuries, leaders have played dice and jeopardized the fate of the people who have placed faith in their ability. To prevent risky and reckless decisions that cause leaders to significantly overreach themselves, it helps to beMindful of the Fickle Factor as we go bargain hunting for insights onLeaders & Legends.
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