- Notes on Contributors
- The History of Strategy and Some Thoughts about the Future
- The Boundary of the Firm
- Evolutionary Theory
- Institutional Approaches to Business Strategy
- The Strategic Management of Technology and Intellectual Property
- Strategy and Valuation
- The Knowledge-Based View of the Firm
- Analysing the Environment
- Strategic Groups: Theory and Practice
- Scenario Thinking and Strategic Modelling
- Analyzing Internal and Competitor Competences: Resources, Capabilities, and Management Processes
- Dynamic Capabilities
- Formulating Strategy
- Organizational Learning
- Strategy in Service Organizations
- Why Diversify? Four Decades of Management Thinking
- The Rationale for Multi-SBU Companies
- The Role of the Parent Company
- Mergers and Acquisitions: Motives, Value Creation, and Implementation
- Cooperative Strategy: Strategic Alliances and Networks
- International Strategy
- Strategies for Multinational Enterprises
- Globalization and the Multinational Enterprise
- Managing Strategic Change
- Organizational Structure
- Strategy Innovation
- Game Theory In Strategy
- Strategy, Heuristics, and Real Options
- Strategic Flexibility Creating Dynamic Competitive Advantages
- Subject Index
- Name Index
Abstract and Keywords
Today, diversified companies are regarded by many commentators as being ‘up to no good’, but for just the opposite reason; they are now charged with being un-competitive. The problem is not that they are over-mighty competitors, but that they add no value to their businesses. How has thinking about the rationale for diversified companies evolved during this period of time? Why has fear of the power of diversified companies been replaced with scepticism about their results? What have we learned, both about diversification strategies that work and those that do not work? There have been relatively few influential ideas about what constitutes a successful strategy for a diversified company. This article explores the development of these ideas, and examines current thinking about corporate-level strategy.
Michael Goold is a director of the Ashridge Strategic Management Centre. His research interests are concerned with corporate strategy and the management of multi-business companies, and he runs the Centre's programme on Strategic Decisions. His publications include: Synergy: Why Links between Business Units Often Fail and How to Make Them Work (1998), Corporate-Level Strategy: Creating Value in the Multibusiness Company (1994), and Strategic Control: Milestones for Long-Term Performance (1990).
Kathleen Sommers Luchs is a business researcher and writer. She has been a research associate at Ashridge Strategic Management Centre in London and at Harvard Business School. Her publications include Strategic Synergy (1992), coauthored with Andrew Campbell, and Managing the Multi-business Company (1996), co-authored with Michael Goold. She has an MBA from London Business School and a Ph.D. from Yale University.
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