Does your Management Matter? Prof Harry Sminia, Strathclyde Institute for Operations Management

Anyone remember NBL? The North British Locomotive Company in Glasgow. Once this was the largest steam locomotive manufacturer in the world. They went into voluntary liquidation in 1962, as they failed to receive any new orders. With hindsight, it appears pretty obvious that this had to happen. A firm with an outdated product and an outdated technology has to fail, hasn’t it? Why did they not move with the times?