This study explores the decline of the Finnish Institute of Management (LIFIM), once a leading executive education provider, through the perspectives of path dependence and managerial inertia. The research uses a historical case study approach and various sources like archival records and stakeholder interviews to track LIFIM's strategic choices and decline. The results suggest that initial strategic decisions provided inflexible paths, and managerial inertia impeded response to changing educational demands, leading to the gradual deterioration of LIFIM's pre-eminence.
