CONSIDER this cautionary tale: a highly respected 111-year-old company, which for most of its commercial life not only made profits but operated as brand leader, is in very serious trouble. In the last five years, the company, under a new management, shows signs of gradual decline and then swiftly moves towards bankruptcy. Much to their horror, the shareholders discover that the person who doubles as Managing Director and Chief Executive Officer has not only been guilty of gross mismanagement but he and his cronies (some of who are in jail) have systematically looted the organisation and indulged in other criminal activity. Not surprisingly, a cry goes up insisting that the culpable chief be sacked and replaced by a dynamic MD and CEO whose personal integrity is high. Happily, the firm has on its payroll employees who fit the bill for company renewal. Meanwhile, the corrupt management resists removal shamelessly; it is only the imminence of a jail sentence which forces the leader to quit. Subsequently, the directors of the company get together in order to elect a new MD and CEO amidst widespread expectation and hope that the company will make a new beginning. So, what do you think happens? The corrupt and discredited head is politely asked to relinquish one of the two positions he holds; he is then requested by the other directors to help choose his successor. Not surprisingly, he selects an old and infirm loyalist who immediately declares that he is proud to be a clone of his predecessor and will function in the predecessors infamous style. How would you characterise such a company?