But by the time a company has moved through Stages1,2,3,and 4, those in power can become exhausted and dispirited, and eventually abandon hope. How can companies reverse course?In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Collins' research project—more than four years in duration—uncovered five step-wise stages of decline: I just finished reading Jim Collins’ new book, How the Mighty Fall: ... Collins’ main message is that of “well-founded hope.” His hope is that leaders aren’t imprisoned by their circumstances, setbacks, history, mistakes, or even staggering defeats. Great companies as well as individuals can fail and recover. How far can a company fall before the path toward doom becomes inevitable and unshakable? In How the Mighty Fall , Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Collins' research project—more than four years in duration—uncovered five step-wise stages of decline: In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Principle- 2 No company we studied was destined to fall all the way to Stage5,and each company could have made different decisions earlier in the journey to reverse its downward slide. In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Collins' research project—more than four years in duration—uncovered five step-wise stages of decline: