This is an important book. The topic is important, and Dr. Straub approaches it with a new approach. In fact, one could say that the bookâs importance stems from its lack of disciplinary focus, relying instead on a holistic understanding of the phenomenon. Too often, academic research is pursued within a narrowly defined academic âfieldâ, necessarily blinding researchers to realities whose essence is inter-disciplinary. This is typically the case with research on Mergers \u0026 Acquisitions, making most of the âfindingsâ relatively unimportant for practice. Yet M\u0026A are a crucial part of business development. It is evident that companiesâ long-term success is at least partially dependent on their strategic actions. And these are often shaped in practice by merger and acquisition activity. Thus phenomena as varied as globalization, value-chain optimization, or product diversification are often implemented as M\u0026A operations. In no few cases, M\u0026A activity constitutes the companyâs strategy. If, as noted above, strategic moves do have an impact on lo- term success, it follows that M\u0026A activities are at the core of many business successes⦠and failures. As such, they play an important role in the development of the whole society: wealth is created (or destroyed) mostly by companies. Perhaps the most remarkable aspect of the phenomenon is its very high failure rate.
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