Three envelopes
A young, ambitious executive is chosen to replace a retiring CEO at a major corporation. On the outgoing CEO's last day, he calls the young executive into his office for a word of advice.
"The job can be tough," the old CEO says. "If you ever find yourself in a crisis you can't handle, I've left three numbered envelopes for you in the top drawer of this desk. Open them in order, one crisis at a time."
The young executive thanks him and settles into his new role. Things go great for the first year. But then, a major product launch fails, and the company's stock plummets. Panicked, he remembers the envelopes. He opens the first one. The note inside reads: "Blame your predecessor."
He does exactly that, holding a press conference where he talks about the flawed strategies he inherited. The board and the press are satisfied, and the crisis passes.
Two years later, the company is hit with a massive accounting scandal. Things look even worse this time. He rushes to the desk and opens the second envelope. The note says: "Reorganize the company."
He immediately announces a major corporate restructuring, shuffling departments and firing a few high-level managers. The company looks proactive and dynamic, and the scandal is soon forgotten.
About eighteen months after that, a crippling recession hits their industry. The company is on the verge of bankruptcy. The executive, now haggard and desperate, goes to the desk and opens the third and final envelope.
The note inside reads: "Prepare three envelopes."
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