Build, Borrow, or Buy

enough asking themselves whether they need to do a takeover deal at all. …Companies that want growth have two other options to consider alongside acquisitions: building the resources they need, or borrowing them from somewhere else. The most important aspect is taking the time to think through which approach is most appropriate… Think before you swoop." —The Sunday Times

“Build, Borrow, or Buy serves as an outstanding resource for senior leaders and anyone working or interested in organizational growth and development." — Leader Lab

"… Build, Borrow, or Buy, by professors Laurence Capron, of INSEAD, and Will Mitchell, of Duke University's Fuqua School of Business, is such a timely book..... Confident decisions about what strategy to adopt and what capabilities to develop are highly dependent on knowing how to obtain the required resources. For these reasons, reading Build, Borrow, or Buy could help you enhance your company's strategy as well as its execution." — strategy+business magazine

“This range of ideas is important because Capron and Mitchell make it clear that no single strategy will deliver specific outcomes and that the firms that survive and prosper create their own mix." — The Australian

"The book offers a series of more tactical questions and tips to help you as you probe more deeply into the build-borrow-buy possibilities... the keen insights stir the mind and offer many rewards" — The Globe and Mail

"Excellent case studies back up the authors' contention that sustainable growth comes when leaders make active choices across the full portfolio of growth options. A highly recommended read for all would-be strategists." — Economia Book Review

"Build, Borrow, or Buy serves as an outstanding resource for senior leaders and anyone working or interested in organizational growth and development.." — David Burkus, LDRLB

“There is surely nothing quite so useless as doing with great efficiency what should not be done at all" is one of Peter Drucker's better-known maxims. Or, as Will Mitchell paraphrases it to CFO, “You can royally mess yourself up if you try to do the wrong thing really well." Either way, that nugget of wisdom lies at the core of an original new book on strategy and growth by Mitchell and Laurence Capron, Build, Borrow, or Buy. Much recent thinking on strategy emphasizes execution, but Capron and Mitchell's research shows that companies can excel at execution and still fail, because they choose the wrong “resource pathway." — CFO Magazine

“They've come up with a helpful framework that reflects the practices of a variety of successful global organizations, to determine which path is best for yours." — The Hindu (India)

“… an excellent book… fascinating… I'd say this book is essential reading for anyone involved in the growth of their company, and in the end, that's all of us." — Business Traveller magazine

ADVANCE PRAISE for Build, Borrow, or Buy:

Bob McDonald, Chairman of the Board, President, and Chief Executive Officer, The Procter & Gamble Company —
“Capron and Mitchell accurately capture the dilemma that today's business leaders face—how to deliver long-term sustainable growth. They lay out a compelling framework by which to judge how to best fill capability gaps and position companies for growth."

Roger Martin, Dean, Rotman School of Management, University of Toronto —
“Laurence Capron and Will Mitchell have written a valuable book on how to think through the question of securing the capabilities that a company needs in order to win. Full of helpful checklists and frameworks, Build, Borrow, or Buy brings what could be abstract concepts down to earth for practicing executives. I recommend this book for all those who strive to make their company more prosperous."

Peter Johnson, Vice President, Corporate Strategy, Eli Lilly and Company —
“Much has been written about identifying ‘what' core competencies firms need to create competitive advantage. Build, Borrow, or Buy addresses the critical problem of ‘how' to obtain those competencies. A clear, practical guide to thinking about successfully obtaining, integrating, and managing resources over time."

Patrick Cescau, former Group CEO, Unilever —
“This rigorous and well-researched analysis provides an invaluable guide for any executive looking to address that greatest of growth conundrums: knowing precisely how and when to deploy a firm's resources and capabilities in pursuit of the biggest opportunities."

Kathleen M. Eisenhardt, Stanford W. Ascherman M.D. Professor, Stanford University; coauthor, Competing on the Edge: Strategy as Structured Chaos —
“Capron and Mitchell will change how you think about business. They offer a crystal-clear framework, demystifying the thorny choices of when to acquire, ally, or ‘do-it-yourself,' and they back it up with rich, global examples. A must-read for executives and business development professionals."