.to acquire or not to acquire: that is the question. Robert J. Terry

2/7/01


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Table of Contents

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.to acquire or not to acquire: that is the question. Robert J. Terry

Chapter Outline

Diversification and Corporate Strategy

The Four Main Tasks in Crafting Corporate Strategy

Stages in Transitioning from a Single Business to a Diversified Company

Competitive Strengths of a Single Business Strategy

Competitive Strengths of a Single Business Strategy (cont.)

Risks of a Single Business Strategy

When to Diversify?

When Does Diversification Start to Make Sense?

Why Diversify?

Strategic Management Principle

Corporate Strategy Alternatives

Diversification Strategies

Strategies for Entering New Businesses

Acquire a Company Already in the Target Industry

Diversification via Internal Startup

Diversification via Joint Ventures

Drawbacks of Joint Ventures

What Is Related Diversification?

Related Diversification and Strategic Fit

Attractiveness of Related Diversification

Related Diversification and Competitive Advantage

Common Approaches to Related Diversification

Benefits of Related Diversification

Concept: Economies of Scope

Concept: Strategic Fit

Types of Strategic Fit

Technology Fits

Operating Fits

Potential Benefits of Operating Fits

Distribution and Customer-Related Fits

Potential Benefits of Distribution and Customer-Related Fits

Managerial Fits

Capturing Benefits of Strategic Fit

What Is Unrelated Diversification?

Basic Premise of Unrelated Diversification

Acquisition Criteria For Unrelated Diversification Strategies

Attractive Acquisition Targets

Appeal of Unrelated Diversification

Drawbacks of Unrelated Diversification

How Many Unrelated Businesses Can a Company Diversify Into?

How Broadly Should a Company Diversify?

Diversification and Shareholder Value

Post-Diversification Strategies

Divestiture and Liquidation Strategies

Divestiture and Liquidation Strategy Options

Turnaround, Retrenchment, and Portfolio Restructuring

Corporate Turnaround Strategies

Corporate Retrenchment Strategies

Portfolio Restructuring Strategy

Conditions That Make Portfolio Restructuring Attractive

Comment: Trend in Diversification

Multinational Diversification Strategies

Multinational Diversification: 1960s

Multinational Diversification: 1970s

Multi-National Diversification: 1980s

Competitive Advantage Avenues for a DMNC via Related Diversification

Competitive Strength of a DMNC in Global Markets

Competitive Strength of a DMNC in Global Markets

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Author: Jana F. Kuzmicki