infosys innovation training lynn e. black cur516...

InfoSys Innovation Training 1

InfoSys Innovation Training

Lynn E. Black

CUR516

November 23, 2015

Dr. Keith Bennett


WELCOME TO INNOVATION TRAINING AT INFOSYS!

Infosys Brief: Company Profile

Phase I

Infosys is one of the world’s largest, global IT companies specializing in providing high tech

consulting services and software solutions to firms and individuals across the world. Their motto is “Sparking

a customer obsessed, innovation culture” (Infosys, 2015). This year, it broke the 8 billion ceiling in revenues.

Surpassed only by Cognizant, InfoSys caters to a list of some of the most prominent Fortune 500 companies

such as Bank of America and Apple and others (ET, 2015). It is in this environment that their new hires must

learn to problem-solve and innovate in order to maintain Infosys’ record of excellence in IT services and

support.

In keeping with the vision of Infosys to provide its clients with cutting edge solutions that will ensure

its clients’ places as leaders in the information revolution and technology services in the global economy, it is

extremely important that Infosys’ entry-level employees are well-versed in the processes involved in

innovation. This group of individuals plays a critical role in providing a level of excellence in innovation that

has made Infosys a leader and that will sustain its competitiveness.

Course Title: Innovation Training

Audience:

Recent new hires need instruction/indoctrination in various aspects of Infosys’ approach to customer

service and maintaining customer loyalty. The new hires are comprised of entry-level business analysts,

business management and marketing consultants, and technology specialists and consultants. The

characteristics of these employees are: well-educated in business or in their technical specialty, probably mid-

late 20s to early 40s; very diverse ethnic and cultural backgrounds, possibly lacking in global business


experience; these individuals may not possess strong leadership/team building skills. These individuals will

need a thorough understanding of the market that Infosys serves, powerful analytical skills, structured and

logical thinking skills, team-orientation, and excellent communication skills to be successful in the global

environment.1

Course Description:

This orientation training is designed for entry-level employees in software development and

consulting. In this training, participants will be immersed in Infosys culture, handing client problems, and will

be initiated into the intricacies and complexities of global business.

Participants will learn to: (see following chart)

• Trainees will demonstrate empathic listening to client concerns reassuring project success.

• Trainees will analyze the client's needs carefully based on market trends.

• Trainees will engage in team-building and strengthening through critical knowledge transfer.

• Trainees will develop global business thinking, which is holistic and innovative.

1 These skills and qualities are based on a perusal of entry-level positions in IT consulting on Indeed (2015).


Course Format:

Mixed mode learning involving small amounts of lecture, problem-solving, case studies,

experiential/simulated learning, classroom discussion and collaboration. A 5-day intensive training during

standard work hours (8-5) will be necessary to initiate students into innovation thinking. Classes will be

limited to 20 employees for maximum effectiveness. The modular design permits flexibility and allows for

segments to be separated if deemed necessary.

Instructional Design – Phase II

Learning Environment

The format of the training employs both traditional and nontraditional learning methods. The training

is student-centered and relies upon the students for input and feedback at each juncture. Behavioral learning

objectives will be employed to achieve overall learning goals and develop students’ thinking abilities.

•

•Teams will engage in team-building and strengthening through critical knowledge transfer.

•Teams will learn to lIsten to client concerns empathically reassuring project success.

•Teams will develop global business thinking, which is holistical and innovative.

•Teams will learn to analyze the client's needs carefully based on market trends.

Cutting-Edge Business Analysis

Team-building

Interactive Client Communications

Creative

Problem-Solving


The training comprises four (4) learning modules: Interactive client communication, cutting-edge

business analysis, team-building, and creative problem-solving. In each module, learning teams will

collaborate to produce documents or tangible outputs.

Participants will be divided into teams for collaboration at every level. Each team will have at least

one type of consultant/analyst (business analyst, business, management and marketing consultant, application

developer, and a technical analyst). Teams will decide who are the most skilled to lead the team through each

module or skill set. Teams will be required to make design decisions and develop a consensus (decide

together) on the proper course of action in difficult situations.

Infosys teams will be assigned clients with troubled account records with the goal of reversing the

trend. Training Facilitators will accompany Infosys teams throughout the training to provide mentoring.

Private rooms equipped with white/smart boards will be required for team discussion and analysis. Also,

CCTV installed in the training rooms will be helpful for recording sessions and maintaining a record of the

training for later analysis.

The objectives of this training program are project-based including experiential learning involving

interviews, project design, simulations, and encouraging higher, critical/creative thinking skills.

Participants will be tested in their ability to analyze data, synthesize information, cooperate with

difficult clients, collaborate in emotionally charged situations, and innovate where no visible solution exists.

These are the skills required for innovation, which is what Infosys hopes from its employees.

Participants will assemble in common classroom first thing in the morning each day for assignments

and any instruction that may be required for the day. This room should have a projection screen and projector,

a laptop, a document camera, whiteboard/smart board, sound system and highly sensitive wireless

microphones for sound amplification throughout the room so microphones do not need to be carried around the

room and students do not need to leave their seats.


Module 1 (Day 1) - Interactive Client Communications

Goal: Participants will demonstrate empathic (two-way) listening to client concerns reassuring

project success

Description: Participants will be required to review selected client files. Participants will conduct field

interviews and participate in extreme simulations. Discussion and analysis will be used to build a profile of

the company and its leaders. This will require a computer lab equipped with high-speed Internet access,

sophisticated business intelligence software (such as Rapid Insight (100% recommended) or SISENSE (97%

recommended) (Software Advice, 2015), collaboration software such as Redbooth rated a 5-success in all

categories (Capterra, n.d.), along with an Office Suite for creation and editing of documents. Recording

devices (smart phones may be used) or notepads, writing utensils, and highlighters maybe helpful with

interviewing.


Module 2 (Day 2) – Cutting-Edge Business Analysis

Goal: Participants will analyze the client's needs based on market trends

Description: Participants will engage in deep investigation of the company’s image brand using Internet

research, social media tools, and business analytics. This will require a computer lab equipped with high-speed

Internet access, sophisticated business intelligence software (such as Rapid Insight (100% recommended) or

SISENSE (97% recommended) (Software Advice, 2015), collaboration software such as Redbooth rated a 5-

success in all categories (Capterra, n.d.), along with an Office Suite for creation and editing of documents.

Module 1

Objectives Audience Behavior Condition Degree

1. Infosys teams will conduct a thorough

initial client interview given a

complete topic list is provided.

Infosys

teams

will be able to

conduct an initial

client interview

Given a complete

list of topics are

provided

Thorough

2. Infosys teams will write a detailed

problem statement/analysis upon a

complete explanation of the problem.

Infosys

teams

Will be able to

write an problem

statement/

analysis

Upon a complete

explanation of the

problem

In detail

3. Infosys teams will remove all errors

their problem statement/analysis given

that all components are present.

Infosys

teams

Will remove

errors/grammatica

l problems from

the problem

statement/analysis

Given all

components are

present

Zero error

4. Infosys teams will present problem

statement/analysis to the client

immediately within 1 day of completed

redaction.

Infosys

teams

Will present

problem statement

to client

Of completed

redaction

Within 1 day

5. Infosys teams will solicit client's

formal acceptance of review within 3

days of delivery.

Infosys

teams

Will solicit client's

acceptance

will solicit client's

acceptance

Within 3 days


Module 2

Objectives Audience Behavior Condition Degree

1. Infosys teams will conduct a

thorough business analysis of the

problem given the research

lab/materials are available.

Infosys

teams

will conduct

business research

and analytics

Given research

lab/materials

available

Thorough

2. Infosys teams will discuss all

research findings with team

members when all team members

have completed their research.

Infosys

teams

will discuss

research findings

to team members

when all team

members have

completed research

and are present

All

3. Infosys teams will prepare a formal,

comprehensive case analysis after

discussion of research findings.

Infosys

teams

will prepare case

analysis

Given research

discussion is

accepted.

Formal,

comprehensive

4. Infosys teams will transfer case to

design team given research has been

completely and thoroughly analyzed

and choice of a design team has been

made.

Infosys

teams

will transfer to

design team

Given research has

been analyzed and

a choice of a

design team has be

made.

completely and

thoroughly

Module 3 (Days 3-4) – Team Building

Goal: Participants will engage in team-building and strengthening through critical knowledge exchange.

Description: Participants will collaborate on the development and design of a tailored solution for the client.

This module will test participants’ abilities to think vertically and laterally, to resolve differences of opinion

and develop consensus through knowledge-sharing and collaboration. This will require a computer lab

equipped with high-speed Internet access, sophisticated business intelligence software (such as Rapid Insight

(100% recommended) or SISENSE (97% recommended) (Software Advice, 2015), collaboration software such


as Redbooth rated a 5-success in all categories (Capterra, n.d.), along with an Office Suite for creation and

editing of documents.

Module 3

Outcome Audience Behavior Condition Degree

1. Infosys teams will proffer 3 possible

solutions/scenarios based on correct

interpretation of data analysis.

Infosys

teams

will proffer 3

possible solutions/

scenarios

Based on correct

data interpretation

3 solutions/

scenarios

2. Infosys teams will decide on a

technical approach to solution given

100% consensus on interpretation of

research.

Infosys

teams

will decide on best

approach to

solution

Given consensus

on interpretation of

research

100%

3. Infosys teams will craft design

specifications on all aspects given a

complete consensus has been

achieved.

Infosys

teams

will craft on

specifications for

solution

Given a complete

consensus has been

reached on the

solution

on all aspects

4. Infosys teams will formalize error-

free solution design given

assignments have been made.

Infosys

teams

Will formalize

solution design

Given assignments

have been made.

Error-free

5. Infosys teams will simulate/test

solution design 10 times for errors

once coding is complete.

Infosys

teams

will simulate/test

design

once solution

design is complete

10 times for

errors

Module 4 (Day 5) - Creative Problem-Solving

Goal: Participants will develop global business thinking, which is holistic and innovative.

Description: Participants will present personal, individual experiences as learning content to be examined by

classmates and Training Facilitators. Participants will crystallize their learning experiences through discussion

and deep reflection. A formal written evaluation of the training process will be required.


Module 4

Outcome Audience Behavior Condition Degree

1. Individual participants will debrief,

present lessons learned in 5 - 10

minutes.

Infosys

teams

will debrief,

present lessons

learned

Given

completion of

the project

5 - 10 minutes

2. Individual participants will write 7

page position paper discussing why

this training was effective or

ineffective including 5 concrete

lessons learned, 3 emotional

moments and 3 suggestions for

improvement upon completion of

debriefing.

Infosys

teams

will write a

position paper

representing

discussing why

this training was

effective or

ineffective

Upon

completion of

debriefing

7 pages including

5 concrete

lessons learned

3 emotional

moments and 3

suggestions for

improvement

upon completion

of debriefing.


Development & Implementation – Phase III

Program Schedule

The learning environment in this particular training is open-ended. The object is to present the

participants with unstructured activities for which the participants, themselves, will organize and draw out

meaning.

Day 1 – Client Interviews

Time Session Location Materials required

8:00 – 9:00 Introductions

Program

Team Assignments

Main meeting hall Introductory Packets

Program objectives &

activities

Schedule for the week

Participant profiles2

Team roster

Facilitator evaluation forms

9:00 – 10:00 Client Introduction Team room Client file review

Brainstorming activity

Research assignments

10:00 – 12:00 Client Research Team room Computers

12:00 – 1:00 Lunch

1:00 – 2:00 Client Interview Team room Questionnaires

Computers

Teleconferencing software

2 Participants will create online profiles on the company website upon hire and should be completed by the before

the first day of training.


Recording equipment

2:00 – 4:00 Client Profiling Team room Client files

Client recordings

Computers

4:00 – 5:00 Profile Presentation –

complete, in-depth client

profile

Main meeting hall Multimedia Equipment

Day 2 – Business Analysis


8:00 – 9:00 Daily Briefing Main meeting hall None

9:00 – 10:00 Problem Definition Team room Business Model Construct 3

Computers

10:00 – 12:00 Research Team room Computers, Business software

12:00 – 1:00 Lunch

1:00 – 2:00 Research Team room Computers, Business software

2:00 – 4:00 Case Preparation Team room Computers, Business software

4:00 – 5:00 Problem Statement

Presentation


3 The Business Model Construct is the outline that the participants will use to profile the business that they

are researching.


Day 3 – Team-building



9:00 – 12:00 Situation Room Team room Computers

12:00 – 1:00 Lunch

1:00 – 2:00 Technical Specifications Team room Computers

2:00 – 4:00 Product Development Team room Computers,

Business software

4:00 – 5:00 Product/Solution

Presentation


Day 4 – Team Building (Cont’d)



9:00 – 12:00 Build Model/

Model Documentation

Team room Computers

12:00 – 1:00 Lunch

1:00 – 4:00 Testing/Debugging Team room TBD

4:00 – 5:00 Product Demonstration Main meeting hall Multimedia Equipment


Day 3 – Problem Solving


8:00 – 10:00 Product Evaluation by

Training Facilitators


10:00 – 12:00 Debriefing Main meeting hall Multimedia Equipment

12:00 – 1:00 Lunch

1:00 – 2:00 Debriefing Main meeting hall Multimedia Equipment

2:00 – 4:00 Position Paper Main meeting hall Computers

4:00 – 5:00 Program Evaluation Main meeting hall Electronic Evaluation Form

Program Implementation

Innovation training is mandatory for new hires in the consulting fields, which would include business

analysts, business management and marketing consultants, application developers, and technical analysts

recently hired. Each new hire will be notified in writing of date that they are scheduled for Innovation

Training. These new hires have a minimum of a master’s degree or an MBA and most will be familiar with

basic business models and business software. A class will also include application developers who will be

familiar with general programming languages and web design. Therefore, each team should have all necessary

skills and resources available to make the program a success. If more classes are needed, then Infosys will hire

more Training Facilitators. However, the goal is to train our new hires well so that they have no difficult

navigating the Infosys culture or corporate ladder.

The Innovation Training Program will fall under the auspices of Human Resources and will be

directly implemented as an orientation to Infosys. The implementation of Innovation Training will be

conducted 4 times a year (February, May, August, and November), or more if necessary, at the corporate


headquarters or training facility depending on the amount of turnover in the consulting cadre of the company.

A maximum of 20 participants are allowed per class. The classes will be divided into five groups of four.

Approximately six weeks will be required to hire Training Facilitators and ensure all necessary materials and

equipment are available. Five (5) Training Facilitators will be hired to conduct the classes. Due to the fact that

it is the end of the year, preparation for the Innovation Training will not begin until the first week of January.

Therefore the first Innovation Training Class will convene on February 14, 2016.

Facilitator Involvement/Training

By far the most challenging component of this experiential design is facilitator selection. The success of the

training largely depends on the functioning of the facilitator in each group. A super-imposing person will alter

the learning experience and remove the “real world, real time” element from the experience. The role requires

someone with real presence, but who does not diminish the value of the individual learning experience. An

outsider will require a lot of time to train in order to ensure that they have mastered the process. This may take

1 ½ - 3 months depending on how well the facilitator training is organized, which adds another level/layer to

the development process. A very promising option is to use well established Infosys managers to facilitate the

learning experiences for a week since they are well-versed and adept in Infosys culture and processes, and

since the training is only a two-week period at a time. Managers can be rotated in order that a manager serves

only once per year. It will not endanger the manager’s area/department while s/he is away. Another viable

option to make the process as “real-world” as possible is to introduce a “poorly performing”

employee/manager, someone who him/herself needs the training, as a facilitator in each group and let the chips

fall where they may. This person will be aware of many of the values and philosophies of the company, but

has yet to imbibe them. It will be a learning experience for all parties. The utilization of internal resources also

cuts cost by eliminating facilitator salaries.


Using one of the aforementioned options, the facilitator training could be limited to developing rubrics for

performance and assessment measurements, which would reduce facilitator training time. Rubrics development

would involve a week long brain storming session.

Accommodations & Meals

It is my recommendation that the pilot training venue be a 5-star hotel. This addresses a number

of issues. First, lodging and meals are readily available. Also, hotels of this quality will have all

of the necessary training space and equipment required to operate the training such as the

conference room, private workrooms for individual teams, multimedia equipment and sound

equipment, etc. Only the server, laptops, smart boards, document cameras, thumb drives, and

possibly projectors. (These may be available at the hotel as well, but cost of renting them should

be weighed against bringing our own.)

Materials Acquisition & Implementation Schedule

This represents a general project schedule. Implementation process begins January 4, 2016 and the Innovation

Training Pilot will begin on April 4. Project completion is April 15, 2016. (Please see appendix A for a time

and resource breakdown)

1) Materials Preparation

a) Dedicated server space for facilitator/participant files

i) Program Admin Software

ii) Electronic Participant Profiles

iii) File storage for facilitator and participant files

b) Case Studies (5)

c) Forms/Evaluation Instruments

i) Business Model Construct


ii) Daily journal pages/blog

iii) Interview Questionnaires

iv) Electronic Participant Position Paper Form

v) Electronic Facilitator’s Evaluation Forms

(1) Facilitator’s Evaluation Scheme – Formative Assessment

(2) Facilitator’s Evaluation Scheme – Position Paper

vi) Electronic Course Participant Evaluation Form

vii) Electronic Longitudinal Study Forms

2) Local logistics

a) Lodging/Meals (5-day week) (Lunch only provided)

b) Private workrooms (5)

c) General conference area equipped with multimedia capabilities.

3) Resource Acquisitions

a) Hardware

i) Dedicated Server or server space

ii) 30 laptops (20 participant, 5 facilitator, 5 admin)

iii) Smart boards (5)

iv) Projectors (5)

v) Document cameras (5)

vi) Thumb drives (30)

b) software

i) Complete Premium Microsoft Office Suite incl. with MS Project add-on for 30 laptops

ii) Microsoft Programming Suite (Visual Studio)

iii) Business Intelligence Software


iv) Teleconferencing Software for Interviewing (There are free software programs for this need like

OOVOO, Skype, etc)

v) Personality Software – analyze participant personalities and suggest team matches

4) Human Resource Personnel

a) Program facilitator

i) Qualifications

(1) A minimum of five (5) years’ experience as a knowledge manager

(2) Adult Learning Competency

(3) Excellent communicator, both oral and written

(4) Strong leadership skills

(5) Excellent organizational skills

ii) Description

(1) Organize Training Design, Development, and Evaluation

(2) Manage program operations

(3) Fulfill human resource function (recruiting, motivating/mentoring, etc.)

(4) Manage program budget

b) Staff

i) Technology Manager

(1) Qualifications

(a) Technology management experience )

(b) Diverse technology background

(c) Customer Service-oriented

(d) Team-player

(2) Job Description

(a) Server Administration and help desk functions


(b) Software Application Development

(c) Software acquisitioning

(d) Hardware and software installation

(e) Staff Consultant

ii) Educational/Organizational Psychologist (SME)(Contracted only during the developmental phase

of the program)

iii) Business/Corporate Training Consultant (SME) (Contracted only during the developmental phase

of the program)

c) Training Facilitators (5)

(1) Supervise participant groups

(2) Counsel/Mentor participants during training and after training if necessary

(3) Participate in summative evaluations

Training Platform

The object of this training is to introduce you to the culture and processes at Infosys.

You are being given approximately 4 days to turn a failing company around. You cannot copy the success of

any other companies. It must be completely new ideas.

You will be evaluated on your ability to:

analyze a business’ potential and the hindrances besetting it quickly and thoroughly

Work with a team to provide cutting-edge solutions that will restore/reinvent the company in trouble.

Present your ideas cogently and coherently to the managers

Close the deal


Types of Cases – Each team will select one of the cases from Appendix B: The 25 Worst Business Failures in

History (Knufken, 2009). Their responsibility is to take the failed business, revive it and make it relevant for

today.

Idea Creation/Generation

Team Management

Crisis Management

Interactive Interview

What are the company’s strengths and weaknesses?

What is the company’s competition?

Where is the industry going?

What are the niches?

Business Analysis

What are the company’s goals and products? (Company vision)

What is the culture of the company?

How has the company branded itself/its products and how effective is it?

How well capitalized is the company?

What is your analysis of the company budget?

What are the company’s strengths and weaknesses?

Problem-Solving

What are the weaknesses of this business today?

Generating new ideas

Vetting new ideas

Defining the selling points

Team-Building

Strategy building


Dealing with aggressive personalities

Empowering and motivating others

Respecting diversity

Building credibility

Embracing competition within the team

“Teamwork is dependent on people completing their work without having to watch them all of the time.”

Companies must be run by ideas, not hierarchy (Jobs, 2010).

** Daily journals must be maintained by participants. (Create a page that students must log into to create and

maintain their journals.)


Evaluation – Phase IV

Formative Assessments

Each day, each facilitator will to assess his/her team’s progress for that day and provide individual

feedback to team members regarding his/her performance based on Infosys culture and policy. The feedback

will include, but not be limited to, the participant’s individual productivity, team contribution, creative

thinking, and level of organization. Also, facilitators will be responsible for reviewing daily participant

journals and writing comments regarding the participant’s learning experiences.

Summative Assessment

Position Paper – Each participant will submit a position paper at the end of the training. This paper

will describe in detail five (5) of the participant’s significant learning experiences, three (3) ways in which s/he

was affected by them, and three (3) concrete suggestions for improving his/her training experience. Each

position paper will be evaluated by the Team Facilitators and the results of the evaluation will be

communicated to the participant in writing within 5 business days. The position paper will be used to identify

the critical issues/concerns related to each module as well as the overall training program.

Product Evaluation – Training Facilitators, as a panel, will review the value of each team’s product

solution and provide feedback to the teams on the performance of the product and their presentation before the

audience. Product presentations will be evaluated on quality of the solution, profitability prospect,

adaptability/scalability of the model, and innovativeness of the solution. The team which obtains the highest

overall score will be afforded the first choice in duty assignments.


Grading Scheme

ASSESSMENT WEIGHT POSSIBLE

POINTS

OBSERVATIONS (5) 20 10

JOURNALS (5) 20 10

POSITION PAPER (1) 30 40

PRODUCT EVALUATION (1) 30 40

TOTALS 100 100

Program Evaluation

Each applicant will submit a comprehensive program evaluation form at the end of the training that

will be used for overall enhancements to the Innovation Training Program. The program evaluation will

address critical issues/concerns related to the formation of the participants as well as the structure of the

program.

Program Efficacy

The Position Paper and the product evaluation will be the primary indicator of the Innovation

Training’s efficacy. Training Facilitators will be specifically looking for indicators of higher learning, e.g.,

creative thinking development, deeper reflection, cultural diversity and understanding, and general business

skills development conveyed through the Position Paper.


A longitudinal study will be conducted charting the direction and development of each participant

after program completion. One hopeful side benefit is that the Training Facilitators will generate meaningful

relationships with their team participants in order that they may continue to mentor each of them after program

completion


Appendix A: Project Schedule


Appendix B

Appendix B

THE 25 WORST BUSINESS FAILURES IN HISTORY

By Drea Knuksen

I T I S S A I D T H A T U P T O 5 0 % O F B U S I N E S S E S F A I L W I T H I N F I V E Y E A R S O F

I N C E P T I O N . M O S T O F T H E S E B U S IN E S S S T A R T A N D E N D I N O B S C U R IT Y . A FE W

O F T H E M , H O W E V E R , S T A R T U P W IT H T H E V E R V E O F A C A N N O N B A L L , O N LY T O

C R A S H W IT H E Q U A L FA N FA R E . S O M E O F T H E C O M P A N IE S L I S T E D B E L O W , L I K E

E N R O N A N D D E LO R E A N , E X E M P L I FY T H I S C A T A C LY S M I C A P P E A L. O T H E R S , L I K E

P A N A M A N D W O O LW O R T H ’ S , J U S T T U G A T O U R H E A R T ST R IN G S .

http://answers.google.com/answers/threadview/id/418119.html


25. Fashion Café

Want some Newports with that iceberg lettuce?

A restaurant that serves gargantuan burgers and fried appetizers founded by a bunch of supermodels and fey

fashionistas didn’t work? Hmm, I wonder why. “The

$20 Salad Extraordinaire,” created exclusively for

Naomi Campbell, reportedly consisted of a glass of

champagne, a pack of Newports and two slices of

tomato accompanied by an iceberg leaf. Famed

restaurateur Tommaso Buti was the “brains” behind

the operation. He over-franchised the cafes, was

accused of mismanagement, then followed Christy

Turlington in selling his stake in the company. Buti,

already accused of defrauding investors, was arrested

in 2000 and charged with wire fraud, conspiracy, money laundering, and transportation of stolen property.

24. CBGB

A legend turns into a men’s store

In 2006, after 33 years of offering up legends like the Talking Heads,

Blondie, Misfits and the stalwart Ramones, CBGB, the most famous

underground alt-rock/punk club in the world, closed its doors. It was

shuttered to make way for a high-end men’s fashion store. Patti Smith

gave the historic club an emotional, if punk, goodbye by tearing the

stage and room apart. Ironically, the very same shrine that so many

skinny-jean hipsters and adrenaline-fueled punks would come to

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7D8123FF931A25751C1A9669C8B63

http://www.jamescampion.com/chekcbgb.html


mourn was originally started by Hilly Kristal as a venue for his favorite music: “Country, Blue Grass and

Blues.”

23. The Edsel

Ford’s biggest flop

In 1958, Ford’s newest vehicle, launched on “E-Day,” flailed, flopped, and imploded. Ford kept the Edsel

under wraps as a new kind of

futuristic, experimental car. One

fateful day in 1958, the Edsel was

revealed…and immediately

faceplanted. This car of the future

was blah by anyone’s standards. By

November 1959, when Ford finally

mercy-killed the Edsel, it had lost an estimated $250 million–nearly $2 billion in today’s dollars. Edsel is now

synonymous with a marketing business failure.

22. Flooz.com

The name says it all

Flooz.com blew through up to $50 million dollars trying to convince new Internet

users that money online would work like frequent flier miles or gift cards. Part of

that money went to a notoriously bad ad campaign featuring Whoopi Goldberg

(before she was cool again). And the name? Flooz is derived from the Arabic

word for money. In August, 2001 the company folded their chairs and went home.

Apparently, people could just use their credit cards. Whoops!

http://www.washingtonpost.com/wp-dyn/content/article/2007/09/03/AR2007090301419.html

http://www.cnet.com/1990-11136_1-6278387-1.html


21. The Hit Factory

A New York classic goes condo

Deep in New York, in the heart of Hell’s Kitchen, The Hit Factory was one the world’s most recognized

recording Studios. Started by Edward

Germano in 1975, it saw everyone

from Tony Bennett to U2 record

amazing tracks. After Germano’s

death in 2003, his wife Janice took

over operations. Citing the “digital

age,” she closed the doors and sold

the building, moving the operations to

an existing Hit Factory in Miami.

Troy Germano, Edward’s son, later

acknowledged publicly that his mother simply closed it out of greed. She wanted to move to Miami and

thought she could make good money on the building’s sale. It is now a luxury condominium complex, with

prices starting at $1 million.

20. Betamax

BetaWrong

I could give you facts, figures, and dates to support why Betamax failed

so miserably, but that would be a blog post unto itself. Suffice it to say:

Betamax was bulky, complicated, ugly, expensive, publicly ridiculed,

horribly marketed, disdained by the media, and only capable of limited

recording and playback. The capper? Most Hollywood movies that people

rented were just a little bit over one hour. Too bad…and good riddance.

http://www.mtv.com/news/articles/1496600/20050204/index.jhtml?headlines=true

http://www.mediacollege.com/video/format/compare/betamax-vhs.html


19. SwissAir

The “Flying Bank” ends up buried

The former national airline of Switzerland, Swissair, used to be so financially stable that it was known as the

“Flying Bank.” Founded in 1931, Swissair

epitomized international transportation until the

late 1990s, when the airline’s board decided to

follow an aggressive borrowing and acquisition

policy called the Hunter strategy. Then, the

terrorist attacks of September 11, 2001 put a void

in the company’s plans Swissair found itself

hamstrung with debt. Unlike some other airlines,

however, Swissair couldn’t handle the financial hit. Mismanagement and bad ideas—trundling large sums of

cash to purchase fuel at foreign airports, for example—left the airline gasping for oxygen. In 2002, Switzerland

was embarrassed to lose its national icon for good.

18. Ponzi’s Security Exchange Company

Bernie Madoff’s famous forebear

It’s quite an achievement to have a breed of financial scam

named after yourself. Charles Ponzi, an Italian immigrant, ran a

staggering 6-month pyramid scheme in 1920 by gaining

investments (over $15 million) from an ever-growing pool of

more than 40,000 investors. Ponzi would use “profits” from new

investors to pay “interest” to old ones. Using a trade system of

international reply coupons for postage stamps and leveraging

exchange rates, Ponzi made a lot of people money through the

http://www.iht.com/articles/2006/03/31/business/swiss.php

http://white-collar-crime.suite101.com/article.cfm/ponzi_schemes


“Securities Exchange Company,” which claimed to leverage exchange rates through an international postage

stamp reply coupon trading system (this mouthful of a phrase reminds me of how people described derivatives

in 2008). But his scheme ruined lives–including Charles’ own. After jumping a few bails, he did prison time

from 1926 through 1934. Years later, he died, penniless, in a Brazil charity hospital, half-blind and partially

paralyzed.

17. Woolworth’s

The bad economy bullies Woolies towards its own demise

Brits, who held

“Woolies” close to their

hearts, were were crushed

when this comfort food

and houseware retailer

closed its last 807 stores

after nearly 100 years of

service on High Street

and beyond. At one time,

Woolworths was the

leading music retailer in

the entire U.K. During

the 1950s and 60s, the store was instrumental to the Beatles’ sales success Indeed, Woolies also played a role

in breaking Madonna to the rest of the world. Hey, she’s a Brit now. Maybe she’ll pony up the cash to save

them? Not likely.

SEE ALSO: Carl Icahn Becomes Second Largest Stakeholder In Xerox

http://www.google.com/hostednews/ap/article/ALeqM5jtL3Keu4d2eswyf1zzP-4BPW8EhwD95HO3B80

http://www.businesspundit.com/carl-icahn-becolder-in-xerox/

http://www.businesspundit.com/carl-icahn-becolder-in-xerox/


16. Premier Smokeless Cigarette

Taste-wise, charcoal just doesn’t cut it

A smokeless cigarette has been the holy grail of

tobacco ever since Reagan lit up a Chesterfield on

broadcast TV. In an effort to reduce the harmful

effects of inhaling cigarette smoke, RJ Reynolds

launched the Premier cigarette, a “smokeless

nicotine delivery mechanism that looks and feels

like a premium cigarette,” in 1988. The product

ended up a miserable flop. Not only did this

expensive cig taste like charcoal, it ended up

being employed by drug users as a handy “delivery mechanism” for substances other than tobacco. The cost of

the project? A cool $1 billion.

15. Bre-X Minerals

Fool’s gold strikes again

If someone tells you they’ve struck gold on the isle of Borneo, grab your money and run the other way. In

1995, Bre-X Minerals was a tiny mining

company based in Calgary with stock

worth under $1 when they announced they

had found extensive deposits of Gold in

Busang, Indonesia. As a result, their stock

shot to almost $300 CAD a share. A series

of strange events, including a man fallen

from a helicopter and eaten by tigers,

roused enough suspicion to unravel the

http://www.nationmaster.com/encyclopedia/Premier-cigarette

http://www.britannica.com/EBchecked/topic/78394/Bre-X-Minerals-Ltd


fraud. By 199, an outside analysis of the sites samples revealed that Bre-X had faked their findings by

“salting” samples with gold dust. Within weeks, the NASDAQ and TSX delisted the company, which at one

point held a market cap of $4.4 billion. Investors slapped their foreheads, and Bre-X Minerals slunk into

history as a major business failure.

14. IndyMac

IndySplat

On July 11, 2008 the FDIC seized the assets of the

largest Savings and Loan in Los Angeles and the 7th

largest loan originator in the country. The seizure

sparked rumors of bank runs. It also gave the public the

first real, Main Street glimpse of the Financial Crisis of

2008. IndyMac was founded in 1995 as Countrywide

Mortgage Investment. Its purpose was to provide a means of collateralizing loans too high in value for Fannie

Mae and Freddie Mac to service. At the time of its seizure, IndyMac held nearly $30 billion in assets, making

it the fourth largest bank failure in history.

13. Edison Records

First isn’t always best

It’s always difficult being first. Thomas Edison founded the first record

company and invented the phonograph, the first device made for recording and

playback of sound, in 1877. This achievement led to all of the music industry

as we now know it. Surprisingly, it was also the first dictaphone in history used

by businesses. World War I shortened the supply of materials Edison could use

for his highly secret wax recipe, used in manufacturing. The company’s market

http://en.wikipedia.org/wiki/Edison_Records


share fell. As other companies seized the opportunity the make “needle-cut” records (an Edison Labs

invention) Edison Records lost customers and credibility. It closed its doors in 1929.

12. Tucker Automobiles

There’s a reason only four of them ever died

The ambitious car company that Preston Tucker

started was only in business one year (‘47-‘48).

It produced a mere of 51 cars, but its story

remains enshrined in museums, car clubs, film

and even a video game where everyone drives a

Tucker. The fatal flaw? Offering customers the

option to buy their accessories before their car

was built. This program started a witch-hunt by

the SEC. Amid accusations of fraud and the “Big Three’s” influence over government, Tucker Automobiles

went belly-up. I will spare you the argument of whether it was the best car ever made, but out of that original

51, 47 Tuckers still exist today. Let that be your clue.

11. Sharper Image

Buy, but do not inhale

Started in 1977 as a catalog selling jogging watches, the Sharper Image eventually grew

into a high-end customer electronics store. As iPods and other branded, high-tech items

took over the store’s traditional market share, it launched into the infomercial business

with the Oreck vacuum and Ionic Breeze. Unfortunately, the Ionic Breeze did not purify

the air as it said it did. After losing a lawsuit against Consumer Reports for a negative

review, the testing company released findings that the Ionic breeze actually produced

http://www.si.edu/Encyclopedia_SI/nmah/tucker.htm


trace levels of ozone. In 2008, the store went bankrupt, forcing shoppers to buy their overpriced, Japanese

made, brushed steel, throw-away executive gifts elsewhere.

10. Washington Mutual Bank

See bank run

WaMu was America’s largest Savings and Loan

association, the sixth largest bank in the U.S., and

(drumroll please…) the largest bank failure in history. Let

that sink in for a minute. After a 10-day run on the bank in

late September 2008, with total withdrawals in excess of

$16 billion USD–almost 10% of the deposits–the FDIC

seized WaMu’s assets. JPMorgan Chase bought WaMu

subsidiaries the next day for what many suspect at pennies on the dollar. The holding company is currently in

Chapter 11.

9. Enron

They made the E crooked for a reason

Enron was an energy sector leader that started to dabble in e-commerce

and exotic investment areas, such as weather futures. In 2001, Enron, once

valued at $90 billion and the 7th largest company in the United States,

went bankrupt. It took jobs, investor savings, retiree futures and even some

lives with it. In following years, it emerged that they shredded documents,

started partnerships with their own shell companies, and engaged in

massive inside trading. Enron is now synonymous with the business

outcomes of galloping greed.

http://www.guardian.co.uk/business/2008/sep/26/banking.creditcrunch

http://www.npr.org/news/specials/enron/


8. Polaroid

Go digital or die

Shake it like a Polaroid picture! You know you’re good when

your name is the product. (Hello, Kleenex). But while you and

I were buying our first digital camera, printing pictures and

later taking photos with our phones and PDA’s, the execs at

Polaroid were snapping and shaking their pictures into

oblivion. So loved was the brand that countless people took

daily shots of and created art, diaries and literature using these

magical snapshots taped to their walls or to the street. The

leader of an amazing niche technology that so enriched anyone born before 1980, Polaroid went bankrupt in

2005. The name may emerge again, but the brand and the impact will always be retro.

7. Atkins Nutritionals

Fadkins takes a bad fall

Apparently, bread won. Remember when all of your friends ordered their

lunch without the bun and no potatoes, but with lard-laden beef and cheese?

Atkins engineered the “low-carb” craze, a fad diet claiming you could “lose

fat by eating fat.” Dr. Robert Atkins released Dr. Atkins’ Diet Revolution

in 1972. In 1992, revised version gained popularity; the fad really took off

at the beginning of millennium. Questions arose from the medical

community about the diet’s long-term effects. Countless others, from the

FDA to top chefs, also lined up to take shots at it. In 2003, it was reported to a skeptical public that the good

doctor slipped on an icy sidewalk and died. The company went bankrupt within two years amidst the suspicion

http://www.absoluteastronomy.com/topics/Polaroid_Corporation

http://www.forbes.com/business/2005/08/01/atkins-diet-bankruptcy-cx_mn_0801atkins.html


that his diet killed him. Meanwhile, a fickle public ditched low-card for the next fad. A year later, a leaked

medical examinations report revealed that Dr. Atkins, 72, had a history of heart attack and congestive heart

failure. He weighed 258 pounds at death.

6. Bethlehem Steel

When service kills steel

Everything you know about historic America has Bethlehem Steel in it. Founded when James Buchanan was

our nation’s president, Bethlehem Steel was the backbone of the first blasting furnace, railroads, skyscrapers,

coal, nuclear reactors, warships, cargo vessels, large construction projects like arenas, and other major

infrastructural accomplishments. However, the company never adjusted to the new service-based economy that

gained ground in the 1990s. Cheap imports worsened the situation. Bethlehem Steel, a piece of American

history, disappeared forever when it filed for bankruptcy in 2001.

5. Pets.com

Big isn’t better

Pet’s can’t drive, and sock puppets make bad spokespeople, but

Pets.com made the dot-com bubble their own in 2000. They

overexpanded by opening a nationwide network of warehouses

nationwide too quickly (taking a hint from Starbucks).

Unfortunately, profits never caught up with media buys for

commercials. In marketing, nothing is worse than having

everyone know who you are and no one interested in what you

sell. Widely recognized as the icon or poster child for dot-com

failure, its stock went from over $11 in early 2000 to just $.19

on Election Day that same year, when the company closed its doors.

http://en.wikipedia.org/wiki/Bethlehem_Steel

http://en.wikipedia.org/wiki/Pets.com


4. White Star Lines’ “Titanic”

A disaster of titanic proportions

White Star Lines, which built the

Titanic, has oddly disappeared from

the lore surrounding the fated giant.

The fated vessel was conceived of in

1907, when executives Bruce Ismay

and Lord Pirrie drastically changed

and expanded their shipping

transportation business to compete

with Cunard’s new luxury oceanliners.

The result was a line of gargantuan

luxury liners that moved more passengers and freight than anyone else on the market. Three ships came out of

the venture: The Olympic, the Titanic, and the Brittanic. You know the rest of the story. Cue the music!

3. Commodore Computers

You can’t kill the C64

Between 1983-1986, Apple, IBM, and

Atari computer were quaking in their

boots. The reason? The Commodore

64 was selling 2 million units a year

and dominated nearly 50% of the total

market. As the company tried to

innovate by releasing the Commodore

plus/4, a faster, smarter version with a color screen, they alienated their original customer base. The new model

http://en.wikipedia.org/wiki/White_Star_Line

http://www.richmace.co.uk/c64/html/commodore_history.htm

http://www.richmace.co.uk/c64/html/commodore_history.htm


was incompatible with the cherished C64. Commodore tried to discontinue the old line in the US by 1990 and

announced it would stop shipping them in 1995. The tactic didn’t work. Customers all over Europe continued

to snap up the C64s until it became impossible for the company to manufacture them at a reasonable price

without selling new, more expensive models. As they say, “you can’t kill the C64.” The company went

bankrupt in the spring 1994.

2. DeLorean Motor Company

A man, his cocaine, and his car

As is often the case in the automobile industry, it’s hard to separate the man from the vehicle. John DeLorean

was a hero amongst the very rich for

creating the kind of car the future promised.

With a stainless steel-skinned body, sleek

lines and doors that opened vertically (gull

wings), his DMC-12 hit the streets in 1980.

Over the next three years, only 8,900 cars

would be made. The car played a feature

role in “Back to the Future” and become a

potent status symbol. Then, in 1983, a sting

revealed John on tape saying “this cocaine is

as good as gold,” referring to a suitcase full of drugs valued at $24 million. Later acquitted on entrapment

grounds and cleared of defrauding his partners, he would never gain the investor’s trust again.

1. Pan Am

The icon that didn’t pan out

It’s amazing how a country’s identity can be so

closely tied to a business. Such was the case with

PanAm. Founded in 1927, the airline was a part of

American culture for the better part of the 20th

century. It led the industry in international flights and

luxury travel. It was also the first airline to make

widespread use of jumbo jets, and the first to use an

air staff of stewardesses as a PR focal point. Little

girls grew up wanting to be PanAm stewardesses,

and boys grew up wanting to pilot one of the fleet.

Heck, the Beatles arrived on one. Unfortunately, as

an American icon, PanAm was also a target for terrorism. A few horrific incidents, coupled with the increased

http://www.histomobile.com/dvd_histomobile/histomo/92/history2.asp

http://www.usatoday.com/money/biztravel/2006-10-30-pan-am-usat_x.htm

http://www.usatoday.com/money/biztravel/2006-10-30-pan-am-usat_x.htm


global competition that came with deregulation, caused the airline—and its accompanying era—to collapse in

1991.


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software/spotlight/141630/Redbooth/Redbooth.

Economic Times of India (ET). (2015, May 19). Infosys revamping structure of top 200 client accounts,

compensation structure: Vishal Sikka. Retrieved from

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two-accounts.

Indeed. (2015). IT consulting firm hiring: Entry-level jobs. Retrieved from

http://www.indeed.com/jobs?q=IT+Consulting+Firm+Hiring+Entry+Level&l=.

Infosys Limited. (2015). Infosys: About. Retrieved from http://www.infosys.com/about/.

Jobs, Steve. (2010, June 12). Steve Jobs talks about managing people. Youtube. Retrieved from

https://www.youtube.com/watch?v=f60dheI4ARg.

Knufken, D. (2009, January 14). 25 Worst business failures in history. Retrieved from

http://www.businesspundit.com

Software Advice. (2015). Compare business intelligence (BI) software tools. Retrieved from

http://www.softwareadvice.com/bi/

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