The problem is that they have managers that don’t understand basic engineering and manufacturing practices, and that focus entirely on short-term financial engineering.
Case studies for those sorts of mistakes have already been written. For example, look at the US automotive bailout and collapse of Detroit, or read up on IBM and GE’s performance over the last decade.
AT&T is another one and you’re seeing the same thing play out in the entertainment sector with Warner Bros. Discovery and Disney and one could argue Google is on the same path.
Financial engineering is a dead end in multiple industries but will continue unabated because of how the management employee lifecycle works — the people who run companies into the ground are long retired with their huge comp packages by the time the company is defunct.
The problem is that they have managers that don’t understand basic engineering and manufacturing practices, and that focus entirely on short-term financial engineering.
Case studies for those sorts of mistakes have already been written. For example, look at the US automotive bailout and collapse of Detroit, or read up on IBM and GE’s performance over the last decade.