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Successful Acquisitions by David Braun

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Do Nothing

Of course, doing nothing is rarely if ever a pathway to growth. To do nothing is to drift with the tide, effectively letting your competitors set your course. I have to include it here, though, because it is a choice that companies actually make every day. “Choice” may be an overstatement. Few executives or board members sit down, open their flipcharts, and plan a careful do-nothing strategy. They drift into it by default. Inertia is one of the most powerful forces in the universe—and in business. When things seem to be going more or less satisfactorily, we all get tempted to keep doing what we are most accustomed to. However, the long-term costs can be disastrous.

Take a couple of well-known historic examples: Montgomery Ward and ...

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