logo
pagesback-cover
175
Reddit meter
all mentions

Why Most Things Fail

272 pages, 2007

economics & politics

economics & politics

987 books
science & nature

science & nature

1064 books
business & management

business & management

1082 books
Takeaways
Description

Paul Ormerod explains how failure is a pervasive feature of both biological and social systems, from species extinction to business failure. He identifies the subtle patterns that comprise the seeming disorder of failure and analyzes why failure arises. 

Throughout the book, Ormerod exposes 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.

Failure is Inevitable

In 'Why Most Things Fail', Paul Ormerod explores the idea that failure is a natural part of life and business. He suggests that no matter how much we plan or strategize, failure is inevitable. This doesn't mean we should stop trying, but rather accept failure as a learning opportunity.

The Unpredictability of Success

Ormerod digs into the unpredictability of success. He argues that even the most successful companies can't predict their future success. So, instead of trying to predict the unpredictable, we should focus on being adaptable and ready to change when necessary.

The Importance of Adaptability

The book emphasizes the importance of adaptability. Ormerod suggests that the key to survival in business isn't avoiding failure, but learning to adapt and evolve. This means being open to new ideas, willing to take risks, and ready to learn from mistakes.

The Power of Networks

Ormerod explores the power of networks in his book. He shows how networks can influence success and failure, and how understanding these networks can help us make better decisions. So, take a look at your own networks and see how they can be used to your advantage.

The Limitations of Traditional Economic Theory

In 'Why Most Things Fail', Ormerod challenges traditional economic theory. He argues that it often fails to accurately predict outcomes because it doesn't take into account the complexity and unpredictability of real-world situations. This is a great reminder to always question and critically evaluate theories and models.

Recommendations

1
Ev Williams

Ev Williams

entrepreneurtechnologyventure capitalist

Why Most Things Fail found in libraries

1
71 books

Best Books For Personal Finance

Organize and track your wallet and the flow of your money with the Best Books for Personal Finance.