Learning from Corporate Mistakes: The Rise and Fall and Rise Again of Iridium

NDU-SC hosted Mr. Raja Assili, Finance Director of Mawarid Overseas Group UK, on January 8, 2010.

Raja Assili is the Finance Director of Mawarid Overseas group UK, a private family owned Saudi investment company. The firm's invests in the financial services, satellite television, construction and restaurant sectors and major investments include Amex (Middle East), Orbit TV, Pizza Hut and Iridium.

Iridium is a global satellite voice and data communications provider. At inception, the main objective of the company was to provide a solution to the issues of coverage and compatibility with cellular phones.

The talk was based on a timeline of events beginning from 1987 when Motorola created the idea of Iridium to the re-launch of the company in 2001 after being purchased by entrepreneur Dan Colussy.

Mr. Assili highlighted a number of problems, including issues relating to lack of relevant research, marketing, pricing strategy and mismanagement of finances, which led to the downfall of the company. One of the highlights of the talk was being able to see the old cellular phones, and the collection on display even included Iridium's first ever phone.

The talk was highly educational and was a great insight for anyone with an interest in business, marketing and finance.