Jim Collins previously studied successful companies and came up with factors that made those companies successful. Those concepts were outlined in his Built to Last and Good to Great books. In this book he compared successful companies who sustained their achievement with the companies who did not sustain their achievement.
As a result he came up with five stages that may cause (He mentions these are not causes but correlates with the demise of the companies) once successful companies to fail. Five factors are: (1) hubris born of success, (2) undisciplined pursuit of more, (3) denial of risk, (4) grasping for salvation, (5) capitulation to irrelevance of death.
Though Jim implies the demise of a company can be prevented by following the concepts in Good to Great (level 5 leadership, first who then what, confront the brutal facts, hedgehog concept culture of discipline and flywheel not doom loop) and Built to Last (clock building, not time telling, preserve the core/ stimulate progress) books.
Remember these studies are not done in closed laboratories to be 100% definitive which is impossible in the business world since there are myriad factors that may affect the fate of an organization that could be more than what Jim came up with.