This study analyses the determinants of the value of a portfolio of real options and explores implications for strategic management. It focuses the analysis on four elements: the number of real options in the portfolio, constraints on the number of options that can be exercised, the volatility...

Firms in mature or declining industries are faced with the challenge of redeploying their excess resources to new applications, and M&A strategies can be an important component of this effort. I consider two ways in which excess resources are applied to more attractive business opportunities...

Transnational Management provides an integrated conceptual framework to guide students and instructors through the challenges facing enterprises operating in today's complex worldwide environment. Through text narrative and cases, the authors skillfully examine the development of strategy,...