Magazine article Management Today

Don't You Believe It ... If It Is Broke, Don't Fix It

Magazine article Management Today

Don't You Believe It ... If It Is Broke, Don't Fix It

Article excerpt

No, that's not a misprint. There are often compelling reasons for not fixing things, even when they are well and truly broken.

For starters, things tend to break when they are at the end of their lifecycle. Everything - every product, every service - has a lifecycle. It starts off as new, unfamiliar, exciting, commanding lots of attention and premium prices. Then it becomes mainstream, then old. By this time, it is a commodity in a crowded market with dwindling sales and declining margins. It is broke, but it's neither worth fixing, nor fixable.

Even if your broken product is fixable and still has a decent lease of life remaining, there may still be some good reasons for not fixing it. Perhaps you could do something more productive with the same time and resources.

So how do you decide when something is worth fixing? Here are some useful questions.

Where is it on the lifecycle? …

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