Sep 19, 2011
Professor Linda Chavis
As presidency elections approach candidates for the upcoming election begin to pitch their thoughts to the public. Herman Cain was on CNN yesterday promoting his ‘9-9-9’ tax plan. Although he was vague about the specifics of his plan their was one statement, he made, that was intriguing. Cain stated, ‘that what other candidates fail to realize is that in order to come out of the economy crisis that America finds it self in, America must boost economic growth’, ("CNN Politics", 2010). Organizations go into business for different reasons. However, there is one common factor within the organizations and that is to produce a profit. Nonetheless, producing a profit is not always the outcome of an organization. According to Drea (2009, p1) “it is said that up to 50% of businesses fail within five years of inception”. Drea also continues to point out that other organization start off vigorously only to fail as forcefully as they once commenced business (Drea, 2009). Through out history there have been many organizations that failed in the business world. One organization that falls into one of the worlds worst business failures in history is the Polaroid company. Many factors contributed to the bankruptcy of Polaroid. Among other factors the leadership, management, and organization structure used by the Polaroid company played a major role in the down fall of the organization.
Polaroid was founded by Edwin H. Land and his belief that inventions should be based on scientific research. In 1926 Edwin began his polarization research with the assistance of George Wheelwright III. The polarization research lead to the invention of material that selectively screened out light waves. In 1935 Land negotiated with an optical company to produce polarized sunglasses that would screen out glare. The polarized sunglasses where a constant moderate...