BlackBerry was once the big shot of the mobile industry. But since its peak in 2007, BlackBerry stock has fallen from $236 to less than $8 per share. So why did it lose more than 95 percent of its value in less than a decade?
The answer: ineffective communication. Ironically, leaders at Research In Motion (RIM) -- BlackBerry’s parent company -- couldn’t maintain lines of communication with internal teams. Because employees weren’t communicating, RIM’s executives were clueless to the true scale of BlackBerry’s problems.
Unfortunately, this isn’t an unusual story. Many otherwise-successful, growing companies falter because of miscommunication. Rapid growth is a wonderful opportunity, yet it abounds with chances for communication breakdown. Booming business necessitates new hires, but frantic hiring often leads to miscommunicated expectations, misunderstood roles and little interpersonal familiarity.
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