Ch7 - The Management of Strategy (Concepts and Cases) Part...

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1 The Management of Strategy (Concepts and Cases) Part II: Strategic Actions: Strategy Formulation Chapter 7: Acquisition and Restructuring Strategies
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2 The Strategic Management Process
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3 Chapter 7: Acquisition and Restructuring Strategies Overview: Six content areas Popularity of acquisition strategies for firms competing in the global economy Why firms use acquisition strategies Seven problems working against developing a competitive advantage using an acquisition strategy Attributes of effective acquisitions Restructuring strategy vs. common forms strategies
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4 Cross-Border Acquisitions: Increased Trend Number of cross-border deals continues to increase in all corners of the world Acquisitions by emerging -country firms occurring in developed countries, especially in the U.S., UK and Europe Developed economies have more open policies allowing emerging-country economies to make inroads, especially in more mature businesses including steel, aluminum and cement; or basic services such as management of airports and railroads, or infrastructure management, such as toll roads
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5 Chapter 7: Acquisition and Restructuring Strategies Overview: Six content areas Popularity of acquisition strategies for firms competing in the global economy Why firms use acquisition strategies Seven problems working against developing a competitive advantage using an acquisition strategy Attributes of effective acquisitions Restructuring strategy vs common forms strategies
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6 Introduction: Popular strategy among U.S. firms for many years Can be used because of uncertainty in the competitive landscape Increase market power because of competitive threat Spread risk due to uncertain environment Shift core business into different markets Due to industry or regularity changes Intent: increase firm’s strategic competitiveness and value – the reality, however, is returns are close to zero
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7 Introduction: Merger vs. Acquisition vs. Takeover (Cont’d) Merger Two firms agree to integrate their operations on a relatively co-equal basis Acquisition One firm buys a controlling, 100 percent interest in another firm with the intent of making the acquired firm a subsidiary business within its portfolio. Takeover
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Ch7 - The Management of Strategy (Concepts and Cases) Part...

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