Downfall of the Business Giants

In 1984, IBM, the largest and most advanced technology firm in the world, made after-tax profits of almost $7 billion. No other company in the world had ever made so much. Eight years later, in 1992, IBM lost $5 billion, more than any other company in the world. The sums either way, it should be noted, are larger than the total Gross Domestic Product (GDP) of more than ten of the hundred major countries of the world, including Bolivia, Iceland, Ghana, Costa Rica, Zimbabwe, Jordan, Panama, Cyp...