Daily Archives: March 14, 2011

“History is bunk,” said Henry Ford. When it comes to companies, history suggests he was correct. A long corporate life offers no protection against crisis or poor management. It distorts strategy. It encourages employee complacency. As one chief executive brought in to run a century-old multinational told me recently: “Paternalism haunted this company and it paid a price.”

John Gapper

Renault’s grovelling apology to the three executives it wrongly accused of industrial espionage is an extraordinary episode that indicates a serious lack of judgment by its senior managers. Read more