TD Fall Investing GuideTD Fall Investing Guide
Business Insider
Fri, 16 Nov 2012 10:00:00 GMT | By Max Nisen, Business Insider
15 lessons from the greatest business failures of all-time

Don't take the bait and allow other companies to define your strategy



Coca-Cola launched New Coke in response to the Pepsi Challenge. (© Daniel Acker/Bloomberg via Getty Images)
Next
Previous
Previous
  • LA Gear, Mattel's Barbie and Kmart (© Courtesy LA Gear; Solent News/Rex Features)
  • The Myspace.com website is displayed on a computer monitor on June 29, 2011. (© Jin Lee/Bloomberg via Getty Images)
  • R.J. Reynold's 'Premier' cigarettes were not popular with consumers. (© Eric Feferberg/AFP/GettyImages)
  • LA Gear (© Courtesy LA Gear)
  • Entrepreneur Richard Branson (© Maxim Shemetov/Reuters)
  • Coca-Cola launched New Coke in response to the Pepsi Challenge. (© Daniel Acker/Bloomberg via Getty Images)
  • Netscape founder Mark Andreesen made the mistake of ignoring his company's main success, its Internet browser. (© Courtesy of Computer History Museum)
  • A scratched and worn Caterpillar logo. (© Richard Carson/Files/Reuters)
Next
Daniel Acker/Bloomberg via Getty ImagesShow Thumbnails
Previous6 of 16Next
Share this Gallery

Don't take the bait and allow other companies to define your strategy

Coke was lured into one of the greatest business debacles of all time by Pepsi. "Project Kansas," which became New Coke, was sparked by the Pepsi Challenge, which defined Pepsi as the choice of a new generation. Panicked by seeming obsolete, Coke played by Pepsi's rules, was blinded by flawed taste tests and changed its formula. This blunder was called one of the biggest business mistakes of all time.

Leaders know that spending too much time looking over the fence can ignore what made them successful in the first place.   

* Bing: Top selling soda brands

Image Search for Don't take the bait and allow other companies to define your strategy on Bing
Image
Previous 1 of 1 Next
loading
See more results results by

Have your say

How long does it take you to completely unpack after moving in?

Thanks for being one of the first people to vote. Results will be available soon. Check for results

  1.  
    25 %
    3 days – I'm an unpacking MACHINE!
    3,367 votes
  2.  
    26 %
    I need a full month just to figure out where to put everything!
    3,445 votes
  3.  
    9 %
    3 months – I use the boxes as end tables!
    1,160 votes
  4.  
    37 %
    NEVER! I still haven't unpacked everything from the last move.
    4,908 votes
  5.  
    3 %
    Other
    483 votes

Total Responses: 13,363
Not scientifically valid. Results are updated every minute.

Money videos

Recently recommended stories