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Quickly think of a brand you used to buy or a store where you used to shop that no longer exists. Do any of these names ring a bell?: Blockbuster, Radio Shack, Wachovia Bank, Circuit City? Businesses like these fade from memory soon after they close as the business environment replaces them with bigger, better, or newer products, goods, or services.
What is it that causes formerly “top” businesses to fail? While every business and its circumstances are unique, the cause of failure can usually be traced to big changes in the external or internal environment.
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