‘Culture of arrogance’ felled telecom giant Nortel, study finds

By Janet McFarland – Nortel in its early days was a model of deep technological expertise through its Bell Northern Research (BNR) laboratories and its strong connection to customers, enabling the company to maintain a “first-mover” advantage in many markets. At its peak in 2000, Nortel was Canada’s largest public company, accounting for a third for the value of the S&P/TSX composite index, and employed more than 93,000 people worldwide.

But Nortel’s growing dominance in its markets in the 1990s “led to a culture of arrogance and even hubris combined with lax financial discipline.

“Nortel’s rigid culture played a defining role in the company’s inability to react to industry changes.” more> http://tinyurl.com/qajn5er



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