Page 98 - MS Year in Review 2020

THE “ICARUS SYNDROME”

In Greek mythology, Icarus is the son of Daedalus trapped on the Island of Crete.
Icarus and his father attempted to escape from Crete by flying with wings that his

Daedalus (a master craftsman) constructed from feathers and wax. Icarus ignored
his father's instructions not to fly too close to the sun. Ignoring his father’s

advice, Icarus flew too close to the Sun and the wax holding his wings melted. He
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tumbled out of the sky and fell into the sea where he drowned.

The tragic theme of the Icarus myth or legend concerns “death” and failure from
what the Greeks’ termed “hubris.” Specifically, the Greek conception of hubris
refers to the notion that an individual’s own personality contains a tragic flaw that

will ultimately lead to their destruction. It has become an eternal lesson in Western
thought.

THE “ICARUS SYNDROME” IN BUSINESS

The “Icarus Syndrome” has profound implications for leaders of business
enterprises.

Many companies experience a period of “dazzling success” followed by virtual
death. Just as Icarus died when he fell from the sky, “high flying companies” can

also “die,” if not literally, by becoming corporate Zombies or entering bankruptcy.
Examples of once high-flying companies that have experienced the Icarus

Syndrome include Boston Markets, Webvan, and Osborne Computer.

78 Gabi Ancarola, “The Tragic Story of the Fall of Icarus,” April 17,
2018: https://greece.greekreporter.com/2018/04/17/the-tragic-story-of-the-fall-of-icarus/

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