Only Six Types of Successful Acquisitions?

According to the self-assured analysis of McKinsey, there are only six types of successful acquisitions.  Cutting directly to the chase, they are: Improving the target firm’s performance; Removing industry excess capacity; Creating market access for services;... read more +

What if there are only two strategies?

By "only two strategies," I mean what if there are only two general ways of creating a sustainable competitive advantage? I've read a lot of the business and management literature on strategy (believe me...) and this thought first surfaced when I read Michael Porter's...

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“Don’t Fight the Tape”

For those of you who may not have spent years as I did in and around Wall Street, "don't fight the tape" may be an obscure phrase but its meaning is essentially self-evident.  If the market (the "tape") is strongly headed in one direction, forget about what you think...

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Why Aren’t Law Firms Bought & Sold?

One thing you can count on when two law firms merge is that neither one buys the other.  I use "buy" in its simple and core sense: Nothing is obtained in exchange for payment. No cash changes hands; no stock is exchanged, no assets are purchased or liabilities...

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Telling Stories

Psychologists call us humans, among other things, "meaning-making machines."  We're always looking for the reason why, the cause for the effect, the coherent narrative that pulls it all together and ties it up neatly.  So far so good, but of course we can get carried...

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Who’s in Your Competitive Set?

We often ask law firms, "Who's your competition?"  The single most frequent response we get is, "Well, no one, really." This is delusion on stilts. Every business, I would venture to extend that to any human organization, has competition, and it has nothing to do with...

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Janet Stanton, Partner
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