Divestitures: Creating Value Through Strategy, Structure, and Implementation

Divestitures: Creating Value Through Strategy, Structure, and Implementation

Author: Emilie R. Feldman

Publisher: McGraw Hill Professional

Published: 2022-12-20

Total Pages: 289

ISBN-13: 1264277571

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Today’s best-known expert on the topic shows business leaders how to dramatically increase corporate value through smart, strategic divestitures You've focused on mergers and acquisitions, but how much do you know about divestitures? Wharton Professor Emilie R. Feldman provides a comprehensive primer on what strategic objectives divestitures can achieve, which businesses divestitures typically involve, what divestiture structures companies can choose from, and how to implement divestitures to maximize their financial benefits. Divestitures are among the hottest transactional structures today. Divestitures: Creating Value Through Strategy, Structure, and Implementation shows executives, board members, transactional advisors, educators, and others how strategic divestitures can be used to enhance corporate value and performance. The book is organized into three sections: Strategy: Remove problems, improve focus, reconfigure the corporate portfolio, and address regulatory requirements Structure: Sales, spinoffs, equity carveouts, Reverse Morris Trusts, joint ventures, and tracking stocks Implementation: Separate the divested business, reconfigure internal processes, and reshape external perceptions This essential book fills major gaps in the professional and academic markets, providing the only available rigorous, research-based treatment of this important strategic tool.


Book Synopsis Divestitures: Creating Value Through Strategy, Structure, and Implementation by : Emilie R. Feldman

Download or read book Divestitures: Creating Value Through Strategy, Structure, and Implementation written by Emilie R. Feldman and published by McGraw Hill Professional. This book was released on 2022-12-20 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s best-known expert on the topic shows business leaders how to dramatically increase corporate value through smart, strategic divestitures You've focused on mergers and acquisitions, but how much do you know about divestitures? Wharton Professor Emilie R. Feldman provides a comprehensive primer on what strategic objectives divestitures can achieve, which businesses divestitures typically involve, what divestiture structures companies can choose from, and how to implement divestitures to maximize their financial benefits. Divestitures are among the hottest transactional structures today. Divestitures: Creating Value Through Strategy, Structure, and Implementation shows executives, board members, transactional advisors, educators, and others how strategic divestitures can be used to enhance corporate value and performance. The book is organized into three sections: Strategy: Remove problems, improve focus, reconfigure the corporate portfolio, and address regulatory requirements Structure: Sales, spinoffs, equity carveouts, Reverse Morris Trusts, joint ventures, and tracking stocks Implementation: Separate the divested business, reconfigure internal processes, and reshape external perceptions This essential book fills major gaps in the professional and academic markets, providing the only available rigorous, research-based treatment of this important strategic tool.

Divestitures and Spin-Offs

Divestitures and Spin-Offs

Author: Joseph Joy

Publisher: Springer

Published: 2018-02-08

Total Pages: 476

ISBN-13: 1493976621

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The world of M&A has always been complex and nuanced. Corporations encounter their toughest business problems during a divestiture or a merger. At the same time, optimal execution of divestitures can also create high value for the seller as well as the buyer. This book is a collection of leading practices on Divestitures and covers end to end transaction life cycle from readiness through execution including post deal transformation. It contains the synthesis of experiences across a wide array of clients across industries, ranging from $500 million to $100 billion in revenue. Each chapter in this book can stand on its own as an authority on leading practices related to the topic it presents, and together, these chapters provide a comprehensive set of perspectives needed to successfully complete a divestiture. The highlight of the book is valuable real-life examples and references that a business can benefit from, when it is considering, analyzing or implementing a divestiture.


Book Synopsis Divestitures and Spin-Offs by : Joseph Joy

Download or read book Divestitures and Spin-Offs written by Joseph Joy and published by Springer. This book was released on 2018-02-08 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world of M&A has always been complex and nuanced. Corporations encounter their toughest business problems during a divestiture or a merger. At the same time, optimal execution of divestitures can also create high value for the seller as well as the buyer. This book is a collection of leading practices on Divestitures and covers end to end transaction life cycle from readiness through execution including post deal transformation. It contains the synthesis of experiences across a wide array of clients across industries, ranging from $500 million to $100 billion in revenue. Each chapter in this book can stand on its own as an authority on leading practices related to the topic it presents, and together, these chapters provide a comprehensive set of perspectives needed to successfully complete a divestiture. The highlight of the book is valuable real-life examples and references that a business can benefit from, when it is considering, analyzing or implementing a divestiture.

The Implementation and Structuring of Divestitures

The Implementation and Structuring of Divestitures

Author: Caterina Moschieri

Publisher:

Published: 2009

Total Pages: 0

ISBN-13:

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Existing literature on value creation of divestitures focuses on their antecedents, typically relating them to the parent company's financial performance. Whether and how divestitures can create value for the divested unit remains unclear. This paper presents an exploratory study based on multiple cases, to examine which factors of the implementation and structuring of a divestiture may increase the performance of a divested unit. The emergent granular framework consists of previously unreported aspects of the divesting process and provides new insights into divestitures and their outcomes. Results indicate that antecedents alone may be insufficient for understanding the outcomes of divestitures. Different combinations of understanding of the rationale for the divestiture and perceived capabilities in the divesting process affect perceptions of divestiture feasibility. Sense of opportunity emerges as the key element of the divesting process for the success of divested units. Factors that participate with sense of opportunity in determining the success of divested units are further considered in the theoretical framework.


Book Synopsis The Implementation and Structuring of Divestitures by : Caterina Moschieri

Download or read book The Implementation and Structuring of Divestitures written by Caterina Moschieri and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing literature on value creation of divestitures focuses on their antecedents, typically relating them to the parent company's financial performance. Whether and how divestitures can create value for the divested unit remains unclear. This paper presents an exploratory study based on multiple cases, to examine which factors of the implementation and structuring of a divestiture may increase the performance of a divested unit. The emergent granular framework consists of previously unreported aspects of the divesting process and provides new insights into divestitures and their outcomes. Results indicate that antecedents alone may be insufficient for understanding the outcomes of divestitures. Different combinations of understanding of the rationale for the divestiture and perceived capabilities in the divesting process affect perceptions of divestiture feasibility. Sense of opportunity emerges as the key element of the divesting process for the success of divested units. Factors that participate with sense of opportunity in determining the success of divested units are further considered in the theoretical framework.

Connected Strategy

Connected Strategy

Author: Nicolaj Siggelkow

Publisher: Harvard Business Press

Published: 2019-04-30

Total Pages: 157

ISBN-13: 1633697010

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Business Models for Transforming Customer Relationships What if there were a way to turn occasional, sporadic transactions with customers into long-term, continuous relationships--while simultaneously driving dramatic improvements in operational efficiency? What if you could break your existing trade-offs between superior customer experience and low cost? This is the promise of a connected strategy. New forms of connectivity--involving frequent, low-friction, customized interactions--mean that companies can now anticipate customer needs as they arise, or even before. Simultaneously, enabled by these technologies, companies can create new business models that deliver more value to customers. Connected strategies are win-win: Customers get a dramatically improved experience, while companies boost operational efficiency. In this book, strategy and operations experts Nicolaj Siggelkow and Christian Terwiesch reveal the emergence of connected strategies as a new source of competitive advantage. With in-depth examples from companies operating in industries such as healthcare, financial services, mobility, retail, entertainment, nonprofit, and education, Connected Strategy identifies the four pathways--respond-to-desire, curated offering, coach behavior, and automatic execution--for turning episodic interactions into continuous relationships. The authors show how each pathway creates a competitive advantage, then guide you through the critical decisions for creating and implementing your own connected strategies. Whether you're trying to revitalize strategy in an established company or disrupt an industry as a startup, this book will help you: Reshape your connections with your customers Find new ways to connect with existing suppliers while also activating new sources of capacity Create the right revenue model Make the best technology choices to support your strategy Integrating rich examples, how-to advice, and practical tools in the form of "workshop chapters" throughout, this book is the ultimate resource for creating competitive advantage through connected relationships with your customers and redefined connections in your industry.


Book Synopsis Connected Strategy by : Nicolaj Siggelkow

Download or read book Connected Strategy written by Nicolaj Siggelkow and published by Harvard Business Press. This book was released on 2019-04-30 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Models for Transforming Customer Relationships What if there were a way to turn occasional, sporadic transactions with customers into long-term, continuous relationships--while simultaneously driving dramatic improvements in operational efficiency? What if you could break your existing trade-offs between superior customer experience and low cost? This is the promise of a connected strategy. New forms of connectivity--involving frequent, low-friction, customized interactions--mean that companies can now anticipate customer needs as they arise, or even before. Simultaneously, enabled by these technologies, companies can create new business models that deliver more value to customers. Connected strategies are win-win: Customers get a dramatically improved experience, while companies boost operational efficiency. In this book, strategy and operations experts Nicolaj Siggelkow and Christian Terwiesch reveal the emergence of connected strategies as a new source of competitive advantage. With in-depth examples from companies operating in industries such as healthcare, financial services, mobility, retail, entertainment, nonprofit, and education, Connected Strategy identifies the four pathways--respond-to-desire, curated offering, coach behavior, and automatic execution--for turning episodic interactions into continuous relationships. The authors show how each pathway creates a competitive advantage, then guide you through the critical decisions for creating and implementing your own connected strategies. Whether you're trying to revitalize strategy in an established company or disrupt an industry as a startup, this book will help you: Reshape your connections with your customers Find new ways to connect with existing suppliers while also activating new sources of capacity Create the right revenue model Make the best technology choices to support your strategy Integrating rich examples, how-to advice, and practical tools in the form of "workshop chapters" throughout, this book is the ultimate resource for creating competitive advantage through connected relationships with your customers and redefined connections in your industry.

Corporate Divestitures

Corporate Divestitures

Author: William J. Gole

Publisher: John Wiley & Sons

Published: 2008-04-25

Total Pages: 320

ISBN-13: 0470180005

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Providing practical application of best practices employed in the divestiture process, Corporate Divestitures provides you with detailed guidance on how your corporation should handle a divestiture. It provides a structured approach that emphasizes disciplined execution and illustrative documents and application aids that can be adapted for use in real-world situations.


Book Synopsis Corporate Divestitures by : William J. Gole

Download or read book Corporate Divestitures written by William J. Gole and published by John Wiley & Sons. This book was released on 2008-04-25 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing practical application of best practices employed in the divestiture process, Corporate Divestitures provides you with detailed guidance on how your corporation should handle a divestiture. It provides a structured approach that emphasizes disciplined execution and illustrative documents and application aids that can be adapted for use in real-world situations.

Excellence in Execution

Excellence in Execution

Author: Robin Speculand

Publisher: Morgan James Publishing

Published: 2017-04-18

Total Pages: 218

ISBN-13: 1683501446

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Excellence in Execution is about how to execute strategy. Leaders today recognize that they need to have the ability to craft strategy and that they require the skills to execute it. But almost all books, blogs, talks, articles and other material discuss “why” execution is important, not how to achieve excellence in execution. Excellence in Execution aims to start where almost all leave off. It takes the reader on the implementation journey and is in two parts. Part One addresses "Transforming the Approach." It focuses on changing the current thinking and attitude of leaders. Two thirds of strategy execution still fail and a different approach is required. A new language and terms are introduced such as, Strategy Cadence, Execution Juxtaposition, Decoding the Execution Challenge, Mavericks Network, Review Rhythm and the Three Themes Broad of Execution. Part Two is about "Making It Your Own" and explains how to do this by providing the required mindset, skillset and toolset. It explains in detail what is required to:


Book Synopsis Excellence in Execution by : Robin Speculand

Download or read book Excellence in Execution written by Robin Speculand and published by Morgan James Publishing. This book was released on 2017-04-18 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excellence in Execution is about how to execute strategy. Leaders today recognize that they need to have the ability to craft strategy and that they require the skills to execute it. But almost all books, blogs, talks, articles and other material discuss “why” execution is important, not how to achieve excellence in execution. Excellence in Execution aims to start where almost all leave off. It takes the reader on the implementation journey and is in two parts. Part One addresses "Transforming the Approach." It focuses on changing the current thinking and attitude of leaders. Two thirds of strategy execution still fail and a different approach is required. A new language and terms are introduced such as, Strategy Cadence, Execution Juxtaposition, Decoding the Execution Challenge, Mavericks Network, Review Rhythm and the Three Themes Broad of Execution. Part Two is about "Making It Your Own" and explains how to do this by providing the required mindset, skillset and toolset. It explains in detail what is required to:

Corporate Divestiture Management

Corporate Divestiture Management

Author: Jan-Hendrik Sewing

Publisher: Springer Science & Business Media

Published: 2010-04-20

Total Pages: 280

ISBN-13: 3834986615

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Jan-Hendrik Sewing makes a significant contribution to opening the black box of current divestiture decision-making. He uses detailed case studies, including numerous interviews with corporate executives and experts from management consulting, private equity, and investment banking. The author develops a conceptual framework to identify remedies to behavioral pathologies and their origins. The study highlights multiple techniques for pursuing divestitures proactively and formulates best-practice recommendations.


Book Synopsis Corporate Divestiture Management by : Jan-Hendrik Sewing

Download or read book Corporate Divestiture Management written by Jan-Hendrik Sewing and published by Springer Science & Business Media. This book was released on 2010-04-20 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jan-Hendrik Sewing makes a significant contribution to opening the black box of current divestiture decision-making. He uses detailed case studies, including numerous interviews with corporate executives and experts from management consulting, private equity, and investment banking. The author develops a conceptual framework to identify remedies to behavioral pathologies and their origins. The study highlights multiple techniques for pursuing divestitures proactively and formulates best-practice recommendations.

The Institutionalization of Divestitures

The Institutionalization of Divestitures

Author: Miriam Flickinger

Publisher: Springer-Verlag

Published: 2009-05-26

Total Pages: 132

ISBN-13: 9783834916709

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Miriam Flickinger investigates the stock market reaction to divestiture announcements from an institutionally-based perspective. Using meta-analytic procedures, the author extends the present financially dominated understanding of divestiture performance implications. She shows that divestitures are socially embedded when the value of a firm’s divestiture depends on the prevailing institutional logics within the business society.


Book Synopsis The Institutionalization of Divestitures by : Miriam Flickinger

Download or read book The Institutionalization of Divestitures written by Miriam Flickinger and published by Springer-Verlag. This book was released on 2009-05-26 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Miriam Flickinger investigates the stock market reaction to divestiture announcements from an institutionally-based perspective. Using meta-analytic procedures, the author extends the present financially dominated understanding of divestiture performance implications. She shows that divestitures are socially embedded when the value of a firm’s divestiture depends on the prevailing institutional logics within the business society.

Strategic Management

Strategic Management

Author: Irene M. Duhaime

Publisher: Oxford University Press

Published: 2021-06-17

Total Pages: 785

ISBN-13: 019009091X

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An authoritative overview of the prior development, current state, and future opportunities in strategic management The strategic management field, now a vibrant arena that offers valuable knowledge for managerial practice, has experienced significant growth in the more than forty years since its inception. And, until now, there has not been a book that captured the rich breadth and depth of knowledge of the discipline, while also looking to the future. Strategic Management provides a critical overview of the prior development, current state, and future opportunities in the strategic management field. Editors Irene M. Duhaime, Michael A. Hitt, and Marjorie A. Lyles bring together an exceptional group of scholars to explore specialized topics such as corporate strategy, strategic entrepreneurship, cooperative strategies, global strategy, strategic leadership, governance, innovation, strategy process and strategy practice, and strategic human capital. The book focuses heavily on the future developments and research opportunities available in the field, while also providing a solid base of knowledge for understanding strategic management as a whole. With articles from major leaders in the field, this authoritative volume will be useful to every strategic management scholar.


Book Synopsis Strategic Management by : Irene M. Duhaime

Download or read book Strategic Management written by Irene M. Duhaime and published by Oxford University Press. This book was released on 2021-06-17 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative overview of the prior development, current state, and future opportunities in strategic management The strategic management field, now a vibrant arena that offers valuable knowledge for managerial practice, has experienced significant growth in the more than forty years since its inception. And, until now, there has not been a book that captured the rich breadth and depth of knowledge of the discipline, while also looking to the future. Strategic Management provides a critical overview of the prior development, current state, and future opportunities in the strategic management field. Editors Irene M. Duhaime, Michael A. Hitt, and Marjorie A. Lyles bring together an exceptional group of scholars to explore specialized topics such as corporate strategy, strategic entrepreneurship, cooperative strategies, global strategy, strategic leadership, governance, innovation, strategy process and strategy practice, and strategic human capital. The book focuses heavily on the future developments and research opportunities available in the field, while also providing a solid base of knowledge for understanding strategic management as a whole. With articles from major leaders in the field, this authoritative volume will be useful to every strategic management scholar.

Managing Acquisitions

Managing Acquisitions

Author: Philippe C. Haspeslagh

Publisher:

Published: 1991

Total Pages: 0

ISBN-13: 9780029141656

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How can acquisitions help improve a firm's competitive position and lead to value creation? * Why do many acquisitions fail to live up to expectations? * Why do many managers think that integration means "make the other firms like us," rather than build on the complementary elements that were the original justification for the acquisition? * How can a management team improve its success with acquisitions? * How and what can firms learn from their acquisition experience? These persistent questions are addressed in this important book by Philippe Haspeslagh and David Jemison. Though much has been written about hostile takeovers, megamergers, and corporate restructuring, little attention has been paid to strategic acquisitions that firms throughout the world are using to accelerate the renewal of their business. After eight years of research in 20 companies in the United States, Europe, and Japan, Haspeslagh and Jemison offer a welcome antidote to an overly financial view of acquisitions. Real value, they show, is created only after the agreement is signed -- through managerial actions, not financial engineering. Against their innovative theory of how acquisitions create value, the authors examine the reality of acquisition decision making in most firms. Ironically, they point out, less effective acquisition decision making does not stem from a lack of analysis, but from problems in the acquisition process itself. The importance of their message manage the acquisition process -- becomes more vivid when Haspeslagh and Jemison address integration, identifying common problems and challenges. In addition, they offer a powerful framework for managers to think through their integration approach.


Book Synopsis Managing Acquisitions by : Philippe C. Haspeslagh

Download or read book Managing Acquisitions written by Philippe C. Haspeslagh and published by . This book was released on 1991 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can acquisitions help improve a firm's competitive position and lead to value creation? * Why do many acquisitions fail to live up to expectations? * Why do many managers think that integration means "make the other firms like us," rather than build on the complementary elements that were the original justification for the acquisition? * How can a management team improve its success with acquisitions? * How and what can firms learn from their acquisition experience? These persistent questions are addressed in this important book by Philippe Haspeslagh and David Jemison. Though much has been written about hostile takeovers, megamergers, and corporate restructuring, little attention has been paid to strategic acquisitions that firms throughout the world are using to accelerate the renewal of their business. After eight years of research in 20 companies in the United States, Europe, and Japan, Haspeslagh and Jemison offer a welcome antidote to an overly financial view of acquisitions. Real value, they show, is created only after the agreement is signed -- through managerial actions, not financial engineering. Against their innovative theory of how acquisitions create value, the authors examine the reality of acquisition decision making in most firms. Ironically, they point out, less effective acquisition decision making does not stem from a lack of analysis, but from problems in the acquisition process itself. The importance of their message manage the acquisition process -- becomes more vivid when Haspeslagh and Jemison address integration, identifying common problems and challenges. In addition, they offer a powerful framework for managers to think through their integration approach.