Purchase Solution

Why do businesspeople keep making the same mistake?

Not what you're looking for?

Ask Custom Question

What happened to Nortel is similar to what happened to WorldCom and Enron in the early 2000s, and to Lehman Brothers, Citigroup, and many other banks during the 2008 financial crisis. Why do businesspeople keep making the same mistake?

Purchase this Solution
Solution Summary

This article provides good information around why businesspeople continue to make mistakes around the same areas.

Solution Preview

There are many reasons why business people make mistakes over and over again. As business people are human and not perfect, they tend to become too comfortable with a situation which causes unnecessary mistakes. Day to day life is challenging due to being faced with lots of adversity and frustration which leads to high pressured environments. Business people under pressure tend to make quick decisions opposed to evaluating all circumstances accordingly. This practice alone has a tendency to snowball into irregular and or costly mistakes. For example, there have been many reported cases of doctors performing the wrong surgery on patients. This is a prime example of when a business person/professional finds themselves working under high stress. Everyone has some sort of stress in their lives, however the key is to keep it within manageable ranges to avoid making the same mistakes over and over again.

Some of those reasons include the ...

Purchase this Solution
Free BrainMass Quizzes
SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Business Processes

This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.

View More Free Quizzes
Related BrainMass Solutions

  • Marketing Brand Name

    Or they could have a secondary line, with a different brand name then "Kathan" as it already had produced a negative imagine in the minds of consumers? However, the company must consider the question: Why do you want to do branding?

  • Global Business Strategy

    "Small businesses are particularly vulnerable to this problem, but larger ones are often guilty of the same mistake," says Cleek.

  • Entrepreneur Mistakes

    It is important to encourage employees to risk making mistakes and creates an atmosphere that encourages them to be open when errors occur. One way to do this is by being open about your own mistakes.

  • Business Ethics: What is the role of science in making ethical decisions?

    determine which option will produce the most good and do the least harm.

  • beliefs of major religions

    Why must international businesspeople be acquainted with the beliefs of the major religions in the areas in which they work?

  • Market power, price discrimination

    Why did total consumer surplus decline with price discrimination, even though quantity sold remained the same. See the attached file. Thanks. Market power, price discrimination, and other issues are described.

  • Commitments Needed to develope a Web site

    How important is it to keep a site current? Why? According to "Putting Business Online Isn't Always Easy" (2005), "the biggest mistake people make is failing to understand the commitment a Web site demands."

  • Standard of Ethical Behavior

    In part, this is why business and commerce are regulated through laws and regulations. (1) In other words, if I made a mistake in my personal accounting, it is not the same as when a business makes a mistake in its accounting records.

  • Mayonnaise Water and Salt in Water

    No, it will not rectify the mistake. She is adding more water, but the quantity of salt in the broth remains the same.

View More Related Solutions