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Poor odds on the takeover lottery

Second hand firms have something important in common with second hand cars. This explains why takeovers have tended to disappoint.

Father Christmas does not exist?

Father Christmas does not exist? Tell that to investors who seem unable to ask how much value certain business really add

Threats to Bill Gates and the internet

Can Microsoft maintain its dominance of the world computer market? Is there a long term future for the Internet unless it falls into the hands of a small group of firms?

Learning to define the core business

Ted Levitt’s challenge to “define what business you are in” was based in a fundamental confusion between industries and markets.

Cracks in the Crystal Ball

Economic forecasters tend to say the same thing at the same time, but they rarely get it right.

The Structure of Strategy (Business Strategy Review 1993)

"The Structure of Strategy" is a summary of parts of my book, "The Foundations of Corporate Success", and was reprinted in "The Business of Economics"

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