Which mistake that can ruin a businessman's wealth?

A mistake is an error, a goof, a slip-up. When you make a mistake, you've done something incorrectly.

Mistakes are done by human beings. A businessman is also a human being. He/she can also make a mistake. Many mistakes can be recovered but also some mistakes that can ruin the business and businessmen like excessive debts and liabilities, failure of new projects/products, less foreign investments, investing in wrong project/product etc. But if you study all the scams and the shut down of great companies like BlackBerry.

You will find the main basic two reasons:

 1. Indiscipline towards business morals.

 2. Unethical behavior for business activities.


Yes, it sounds too very insane! Now you will think that I am speaking on insane thought also about moral value which was taught in schools in childhood. Why I am willing to highlight the above reasons with confidence because if you have referred books wrote by James C. "Jim" Collins .He is an American researcher, author, speaker and consultant focused on the subject of business management and company sustainability and growth.

“How the Mighty Fall: And Why Some Companies Never Give In” a book had written by him on some great personalities. If you summarized the whole book you can find the above reasons are playing a vital role in business and for the businessman too!

In his book, he has mentioned about such powerful peoples that they can change entire stock market policies as per their wish if they want to crash the market they just make a call to network and market get crashed. He had mentioned that even such people had ruined their life and commit suicide just because of the two above reasons.

In his book, he has also mentioned about such motivated people who were the loser in their early life but they became most inspiring and successful people just taking care of the two above reasons along with their passion towards the career.


Sometimes a businessman defames its competitor by using is power and money to get projects which will make more wealthy. They bribe their most trusted directors or high-level managers to get the information about the new project which they want to acquire. This is known as indiscipline towards business morals.


A businessman wants to earn more profits that is a true fact and also acceptable. But in greed for money and power he/she starts producing its products with toxic or low-quality substances without caring for its customer's health and money is known as Unethical practices towards business activities.


The best example for proving the above reason is Blackberry mobiles, Once there was a time blackberry had 80% of control and top branded company in the smartphone industry. It used to make people habitual of keyboards, several companies like Nokia started producing phones with "Keyboard facility". Becoming top trending and demanded smartphone company, it was its indiscipline towards business morals Blackberry started to influence the price in the market. But over a period of time "Touchscreen phone" were invented however, company was trending in the market. As new changes were inventing in touchscreen phones results the demand and fame of company get diminishing. Therefor it also started making touchscreen phones. Later NTP filed a case on RIM (Blackberry) for its patents which lead Blackberry almost towards shut down.

Concluding, Huge debts and liabilities of business can not be the sole reason for shut down, it can be tackled by selling companies assets or it can manage by reworking on financial planning and management.

Companies regain its name and fame in the market but once it has indiscipline towards business morals or has any unethical behavior for business activities can ruin business forever.

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