Page 129 - MS Year in Review 2020

Author’s Note to Readers:

This newsletter focuses upon various aspects of the development of
“Sustainably Successful Organizations.”℠

The November issue focuses upon how an organization can to recover and

learn from a near-death experience. First, it reprises the construct of the “The
Icarus Syndrome,” which we define as the demise of a company after a period

of “flying high” with dazzling success.

It also examines a case example of a once high-flying company (Westfields)

that nearly experienced the “The Icarus Syndrome” but was saved by the
leadership of Frank Lowey, which changed the strategic direction and culture
of his company as it was about to “go over the edge.”

Finally, it examines the implications for organizations like Tesla and Zoom,

companies currently “flying high” with dazzling success, but potentially
victims of the “The Icarus Syndrome,” if they do not take necessary

preventative actions.

This newsletter is addressed to various groups including general readers, our

clients, and our licensed global affiliates as well as to investors. 109

Introduction

Once upon a time, Westfields, founded and based in Sidney, Australia, was

a high-flying company—just like Tesla, Zoom, Uber and others too
numerous to mention are today. Unfortunately, Westfields and its co-founder
Frank Lowey experienced a near-death experience of what we have termed “The

Icarus Syndrome.”

109 Our global affiliates are independent consultants in various countries who are licensed, trained,
and certified to deliver our methodologies and tools. Currently our affiliates are in Argentina,
Bulgaria, China, Italy, India, Kazakhstan, Poland, Russia, Singapore, and Vietnam. See:
www.Mgtsystems.com.

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