It was concluded that Nortel's growing dominance in its markets in the 1990s “led to a culture of arrogance and even hubris combined with lax financial discipline. Nortel's rigid culture played a major role in the company's inability to respond to industry changes." (McFarland, 2014). While Nortel was growing its revenues between 1997 and 2000 through a series of acquisitions of other partners and tripling its stock price over the same period, the company lost focus on profitability and found itself in a very difficult position (McFarland, 2014) misread the market and was not prepared to respond to the growing competition of Japan and other competitors. The accelerated pace of technological change and the shift of power to customers was simply too much for them. The bad taste it left in the mouths of key customers made them feel that Nortel would not be around for long deadline to deliver on their promises. Their lack of resilience, strategy, structure, poor financial management, business processes, people and culture have reduced the company's ability to adapt to maintain competitive advantage. (Nisen, 2014). Nortel, made textbook mistakes such as failing to communicate, failing to meet commitments and having a solid understanding of the technology (Nisen,