“Nearly all of business education–even at postgraduate level–may be misguided, even misleading. In my experience, business education is faithfully based on a false premise–that the problem of business is growth. When, in fact, the problem of business is survival.

Most business leaders may be spending their time and energy on solving the wrong problem. Yes, of course, growth is critical in business but the MAIN PROBLEM is that most businesses fail to survive long enough to grow!”

Of the Fortune 500 class of 1974 only 22 of those businesses still survive. These are the big companies. The failure to survive of smaller companies is ten times worse.

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