Such an excellent question especially relevant as so many corporations are failing. Great points have been made, however market and operational variances are the responsibility of company leadership. How leadership makes decisions and with whose input is determined by experience.
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Turn-arounds require precision.
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Sears is unfortunately headibg for a corporate graveyard. The hedge fund that acquired Sears made a mess of things.

Sears held three major assets: real estate, Craftsmen tools division and Kenmore appliance division.

The hedge fund liquidated two divisions - typical, but ill-advised. Sears should have judiciously sold real estate, jettisoned Kmart and focused on retailing and wholesaling Craftsman and Kenmore.
Leadership decisions determine the success and failure of companies.