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Mon 11 Nov 2009Thinking outside the box needed to seal finance deals
Think Twice: Harnessing the Power of Counterintuitionby Michael J Mauboussin; Harvard Business Press; €21
INTELLIGENT PEOPLE often make big mistakes, sometimes with disastrous consequences. In the business world, mergers and acquisitions provide numerous examples of bad decision-making, for instance. Research confirms that in about two-thirds of the cases of mergers in the United States, value was destroyed for the acquirer. The explanation for the continued enthusiasm for acquisitions boils down to one thing: a belief on the part of managers that they can beat the odds.
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