Build, Borrow, or Buy: Solving the Growth Dilemma

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Je suis Heures de jeu :. The book contains the perfect balance between up-to-date examples and cogent analyses based on in-depth studies. Companies that want growth have two other options to consider alongside acquisitions: building the resources they need, or borrowing them from somewhere else. Confident decisions about what strategy to adopt and what capabilities to develop are highly dependent on knowing how to obtain the required resources.

A highly recommended read for all would-be strategists. They lay out a compelling framework by which to judge how to best fill capability gaps and position companies for growth. Full of helpful checklists and frameworks, Build, Borrow, or Buy brings what could be abstract concepts down to earth for practicing executives.

I recommend this book for all those who strive to make their company more prosperous.

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A clear, practical guide to thinking about successfully obtaining, integrating, and managing resources over time. Eisenhardt, Stanford W. Perhaps that leads to developing an internal exploratory environment complemented by alliances-based activity that bring access to new technology and new people. The idea is that acquisition is going to be a convenient shortcut. Post-purchase integration is a nightmare.

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Acquisition is very often the most disruptive, costly, and painful option. People spend a lot of time monitoring opportunities and threats in their industry, and they are generally very good at identifying the resources they need. If you pick the wrong one you are going to waste a lot of time or simply fail.

Often managers overestimate how competitive their internal resources are and underestimate what it takes to get where they want to go. An example would be the traditional media companies. They thought the move online could be done through redeployment of their journalists and existing newsrooms. Many companies tried internally, failed, and lost momentum.

Only then did they look to buy native internet startups.

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Capron discussed the model with Global Network Perspectives. It is built around three strategic questions: 1 BUILD: Are your existing internal resources relevant for developing the new resources that you have targeted for growth? Laurence Capron. Ideally, you should start from a position of strength as early as possible as you experiment with new modes of growing, before rigid habits and reliance on a dominant mode of growth start hurting your performance; begin to use multiple ways of achieving your goals. In The Spotlight. Again, no matter how hard you work to integrate a deal, you are unlikely to succeed if the deal did not make sense.

They easily wasted three or five years. I've seen that pattern across industry: media groups trying to become digital, telecom groups trying to develop voice over IP, and so on. I'm not saying that companies should not explore their internal resources, but if the gap is large they should very quickly do an internal exploration while at the same time complementing it with external sourcing approaches.

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It creates a huge path dependency and becomes very hard for a company to break the mold. If the CEO has an engineering background, loves the products, and knows the DNA of the company, that firm is going to be focused on internal innovation. A CEO with more of a financial or investment banking background will go after deals. Even a specific type of deal. They have succeeded with it before, so they just keep duplicating it.

That preference eventually shapes the structure of the company. Big pharma firms were very internally focused before they realized that their pipeline was empty. For the process to be effective, all the modes should be on equal footing.

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Apple was very inward-focused, but they became a good example of breaking from old habits. They loved their products; they were very proud of their internal innovation.

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Q: How do you create a structure to make sure all options for growth are considered? If you want to choose the path to growth smartly, you first need to shape the decision-making context in such a way that you have diversity of opinion. There has to be enough diversity either within the board or the top management to have expertise in each type of growth.

Someone needs to be able to think through approaches to alliances or sequential options. Someone else, perhaps the CFO, would think about companies that could be acquired. And finally, you might have people who have been around for a long time so they have a strong sense of the company. There may be some behavioral or psychological components to this, too.

Write a Review Build, Borrow, or Buy: Solving the Growth Dilemma ( ): Laurence Capron, Will Mitchell: Books. Buy Build, Borrow, or Buy: Solving the Growth Dilemma by Laurence Capron;Will Mitchell (ISBN: ) from Amazon's Book Store. Everyday low.

People who are good at making deals and acquisition can be ineffective when it comes to managing alliances, because managing alliances is a soft-glove approach, while acquisition can be top-down—it can be about restructuring and so on. But they are very good at building organic growth once they have bought a brand.

Cisco is also very well known for their acquisitions—more than in the last two decades. They pick an early winner, they are very good at integrating, and they give acquired firms a lot of independence. For a time, so much of the growth was coming from acquisitions that people within Cisco started to become demotivated. The job was to screen, evaluate, and buy stuff; it was no longer about doing the innovation.

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They realized that they had to slow down for a few years to digest, to link the acquired labs, to find the right mix between acquisition and organic growth. And they put more emphasis on sequential engagement through alliances, minority stakes, and so forth. Firms can go through cycles. Q: How should companies expand into new areas, whether an emerging market or a new type of product? As firms tackle emerging markets or new fields, the notion of sequential engagement is very important.