Have you ever noticed that many of the world’s largest companies seem to hit a wall that stops growth? I enjoy tracking these large organizations, and I see this prevailing trend of failure after a certain amount of success. This is what I’ve found to be the biggest mistake the world’s largest companies make.
In today’s post, I’m sharing my thoughts publicly… Again, these are just my thoughts. I’d love to hear your thoughts on this topic or on this post – I want to learn from you!
There is a particular reason that this happens, and it’s the biggest mistake that many of the world’s largest companies make.
When I say “the world’s largest companies,” I’m not talking about the ones we all think of, Amazon, Apple, Facebook, or Google. Believe it or not, there are other multi-billion dollar companies out there! These companies do a great job doing what I am going to talk about today. (Here’s a list by Forbes.)
The fatal flaw that happens to the world’s largest companies:
Are you ready? It’s going to blow your mind…
The world’s largest companies should NOT have a c-suite calling the shots. Having a human in charge is a flaw. Because, at the core, the human condition is that we’re all imperfect.
Once companies find their place among the world’s largest, there is no room for imperfection/mistakes; the goal is to become as close to perfect as possible (There is no such thing as perfection – Change my mind).
Here’s the solution to the problem:
Companies that reach billions of dollars in revenue every quarter need to develop a custom, internal, artificial intelligence data machine that controls the company’s direction based on REAL data.
Being a community builder, a believer in all people, this sounds a bit crazy, or even extreme, I know! But hear me out…
The problem is that these companies reach a size that they have unbelievable amounts of data at their fingertips. But when there is still someone at the top (CEO) making decisions, with emotions and flawed ambition involved in the mix, they make a very immature mistake.
The most prominent companies globally, Amazon, Apple, Facebook, or Google, are 100% data-driven, decisions are not made by a c-suite, a CEO, or in a boardroom. These businesses ACT on whatever the data is telling them to do. And this is why they have become successful.
The problem occurs when one person, or group, makes an emotional decision or has a “feeling” that turns into an action that the company takes.
We all praise the leaders of Amazon, Apple, Google, and Facebook, but the fact of the matter is, humans, do not run these companies. Each decision is data-driven. If more companies followed this model, they would succeed more as well.
Related post: How the Heck Did Jeff Bezos Do It?