One of the reasons that IBM almost failed and went bankrupt in the 1990's was due to its outdated corporate culture of consensus-based decision making which while effective in the 1970's, did not allow it to be competitive in the rapid decision making and entrepreneurial risk taking culture of the 1990s,

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This statement is true. IBM's outdated corporate culture of consensus-based decision making was one of the factors that led to its near failure and bankruptcy in the 1990s. This culture, which was effective in the more stable and slower-paced business environment of the 1970s, did not allow for quick decision making and entrepreneurial risk taking that was necessary to compete in the rapidly changing technology industry of the 1990s. IBM eventually had to overhaul its culture and adopt a more innovative and agile approach to stay competitive.

One of the Reasons That IBM Almost Failed and Went