I just read a fascinating article on pbs.org about the sad demise of Business 2.0 magazine. I think the most interesting thing about the failure of the magazine is Time Inc.’s complete lack of understanding of what made Business 2.0 work. Time apparently implemented a new strategy that lumped all the “business” magazines together, and demoted some of the key people at Business 2.0 that made the magazine work.
While hindsight is 20/20, I think there is an important lesson here. As the manager of a business you must make sure that you are really listening and empowering the people who can implement your strategy. If you are trying to implement a strategy that is not supported by the people who you need to do the work, — well it doesn’t take a genius to figure out how successful that is going to be.