In December of 2003, Harry Debes, CEO of SPL, announced his intent to execute an acquisition strategy. A few months later, on May 4, 2004, he signed a definitive agreement to acquire CES. Acquisition strategies are fraught with risks. Research has shown that acquisitions increase shareholder value only 20% to 50% of the time. The…

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How are prices set at the industry level? In a competitive market, Adam Smith’s invisible hand drives prices to a dynamic equilibrium set by suppliers’ willingness to produce at a price and consumers’ willingness to purchase. Yet residential electricity markets are hardly competitive. Since the Public Utility Holding Company Act of 1935, government regulations have…

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What will drive success at your company? I asked seven executives charged with generating revenue in business markets this question on May 17th at the Retail Systems Conference held in Chicago. The range of their answers crossed many aspects of business marketing. Their business cases confirm and expand many of the suggestions made within The…

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In May of 2002, the first edition of The Wiglaf Journal was launched, marking the inauguration of our entrepreneurial activity. Coincidently, May 2002 also was marked by the publishing of Walter Kuemmerle’s “A Test for the Fainthearted” in Harvard Business Review, discussing attributes of successful entrepreneurs. In the two years since we began navigating the…

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After composing the review of Executive Behaviors for Entrepreneur Success, we reached out to speak directly with Walter Kuemmerle, author of “A Test for the Fainthearted” and professor at Harvard Business School. He graciously shared his thoughts on the subject of entrepreneurship and the points made in the article. We asked him what has developed…

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Entrepreneurship is an economic activity. The levels of entrepreneurship are correlated with economic factors. A growing economy, as measured by GDP growth, is correlated with increased entrepreneurial activity. Likewise, rising unemployment drives increases in entrepreneurship out of necessity. Firms established out of opportunity versus necessity are equally likely to succeed, but take on very different…

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