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The New M&A Playbook
Christensen, Clayton M.; Alton, Richard; Rising, Curtis; Waldeck, AndrewArticle HBS-R1103B-EStrategyCompanies spend more than $2 trillion on acquisitions every year, yet the M&A failure rate is between 70% and 90%. Executives can dramatically increase their odds of success, the authors argue, if they understand how to select targets, how much to pay for them, and whether and how to integrate them. The most common reasons for making an acquisition include holding on to a premium position or cutting costs. But to realize those benefits, the acqui...Starting at €8.20
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The New M&A Playbook (Spanish version)
Christensen, Clayton M.; Alton, Richard; Rising, Curtis; Waldeck, AndrewArticle HBS-R1103BStrategyCompanies spend more than $2 trillion on acquisitions every year, yet the M&A failure rate is between 70% and 90%. Executives can dramatically increase their odds of success, the authors argue, if they understand how to select targets, how much to pay for them, and whether and how to integrate them. The most common reasons for making an acquisition include holding on to a premium position or cutting costs. But to realize those benefits, the acqui...Starting at €8.20
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Innovation through M&A: Promega's Taxable Acquisition of Ophidian
Frank, Mary Margaret; Harrison, LisaCase DARDEN-C-2432-EAccounting and ControlThe tax director for Promega Corporation (Promega), was finalizing a deal to buy Ophidian Pharmaceuticals, Inc. (Ophidian), and needed to settle on a deal structure. Given that the consideration paid for Ophidian was going to be primarily cash, the deal would be taxable. The question for her to address was: Should Promega buy the assets or stock of Ophidian? She had to consider the after-tax consequences to Promega and Ophidian from the different...Starting at €8.20
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Differences between Financial Accounting and Tax for Valuation in M&A
Frank, Mary Margaret; Elmore, Frederick A.Technical Note DARDEN-C-2421-EAccounting and ControlThis technical note outlines the differences between financial accounting standards and tax law that affect the valuation of potential targets depending on the deal structure employed. Valuation models typically rely on financial accounting information to estimate the value of the deal; but tax laws, not financial accounting standards, affect the after-tax cash flows attributable to the deal. The note provides steps to determine a target’s tax b...Starting at €8.20
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Why Today's Business Leaders Must Be Innovators: The Importance of Creativity and Innovation in Maintaining Your Company's Competitive Edge
Dyer, Jeffrey H.; Gregersen, Hal B.; Christensen, Clayton M.Book Chapter HBS-8368BC-EIn today's global economy, corporations are under more pressure than ever to outperform competitors vying to take over their industries. How do some companies manage to trump the rest and seize the reins of an entire world market? The answer is actually quite simple-innovation. In this chapter, Jeff Dyer and Hal Gregersen team up with Clayton M. Christensen, author of the bestselling "The Innovator's Dilemma," to explain how innovation has become...Starting at €8.20
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What Is Disruptive Innovation
Christensen, Clayton M.; Raynor, Michael E.; McDonald, RoryArticle HBS-R1512B-EStrategyFor the past 20 years, the theory of disruptive innovation has been enormously influential in business circles and a powerful tool for predicting which industry entrants will succeed. Unfortunately, the theory has also been widely misunderstood, and the "disruptive" label has been applied too carelessly anytime a market newcomer shakes up well-established incumbents. In this article, the architect of disruption theory, Clayton M. Christensen, and...Starting at €8.20
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Managing Innovation at Nypro, Inc. (B) (Spanish version)
Christensen, Clayton M.Case HBS-608S23Service and Operations ManagementSupplements the (A) case.Starting at €5.74
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Making SMaL Big: SMaL Camera Technologies, Teaching Note
Christensen, Clayton M.Teaching Note HBS-608166-EStrategyTeaching Note for [603116].Starting at €0.00
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The Flight of the Kittyhawk (A) (Spanish version)
Christensen, Clayton M.Case HBS-608S20Service and Operations Managementheavyweight project team, lots of senior management support, etc. But it still failed. A rewritten version of an earlier case.Starting at €8.20
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What Is Disruptive Innovation? (Spanish version)
Christensen, Clayton M.; Raynor, Michael E.; McDonald, RoryArticle HBS-R1512BStrategyFor the past 20 years, the theory of disruptive innovation has been enormously influential in business circles and a powerful tool for predicting which industry entrants will succeed. Unfortunately, the theory has also been widely misunderstood, and the "disruptive" label has been applied too carelessly anytime a market newcomer shakes up well-established incumbents. In this article, the architect of disruption theory, Clayton M. Christensen, and...Starting at €8.20