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A number of factors ranging from economic conditions to managerial self‐interest have contributed to today's unprecedented merger boom. But the tide may be turning as the public policy debate over mergers heats up. Most scenarios show a long‐range drop in merger activity. However, the need for an informed, rational national policy on mergers remains.

Strategic investment theory establishes a framework for discussing the benefits of acquisitions. However, these theories do not provide automatic answers to investment questions.

Mergers have not increased profitability, have not improved efficiency, have not expanded sales and, in fact, do not seem to yield sufficient benefit to anyone—consumer and company alike. These startling statements are some of the conclusions drawn by researchers from seven countries working on a project coordinated by the International Institute for Management and Administration in Berlin. Their conclusions were based on data collected over the last decade on 765 mergers in Europe and the United States. Needless to say, findings such as these are bound to fuel debate about management's ability to merge successfully. But is this something new, peculiar to the last decade only? History might give a clue as to how merger activity has fared.

American industry is in the midst of a new merger boom. Recent studies, however, show that such mergers do not necessarily enhance profits, boost productivity, aid efficiency, or result in social good. Given these findings, you ought to seriously question whether a proposed merger is a sound strategic decision before acting on it.

What strategy should top management pursue to enhance the value of the firm or, more specifically, the wealth of the owners or shareholders? This is a perplexing question in light of the many alternative actions being touted by business soothsayers. Consequently, top management is confronted by a variety of competing strategic choices, each presenting an apparently outstanding opportunity for the firm. Invariably, though, more questions than answers are generated in the quest for the corporate Holy Grail.

Purpose – Libraries have been experiencing relentless change and uncertainty in their environment. The literature on corporate communications, strategic management and planning, marketing and public relations more recently, has been recommending using communications as a strategy to coherently and proactively handle and foresee change. Planning and using an overall communications strategy will bring integrity and adherence to the library's goals and direction while reducing the discomfort of change. This selected bibliography is a quick starting point for understanding the significance of an overall communication strategy and its use for managing conflicts and changes in the library's environment strategically. Design/methodology/approach – This article covers books and articles from mid‐1980s to 2004, published around the world. The sources are listed alphabetically by author and then chronologically for different sources by the same author, providing brief but useful information about the content covered for each source. Findings – This bibliography illustrates a variety of research from corporate communications, strategic planning, communications management, marketing and public relations literature that emphasize the role of communication in strategic management. Research limitations/implications – It records a comprehensive list of publications covering international perspectives as well as publications about communication strategy. Practical implications – This selected bibliography is primarily intended for librarians, library planners, managers or administrators, but is also relevant to corporate and business professionals, planners and administrators. Further, it would also be a useful resource for students, faculty and researchers of communication. Originality/value – This bibliography presents a much needed resource list for gathering insights into the strategic role of communication for organizations such as the library that are in a state of constant change.

The grass may seem greener in another field, but take a long, hard look before your company diversifies. The pitfalls of scattering your resources—technology, knowledge, management, human skills, and finances—can mean disaster. Concentrate instead on focusing your energies and gaining competitive advantage.

The authors evaluate the evolution of the intellectual structure of strategic management (SM) by employing a document co-citation analysis through a network analysis for academic citations in articles published in the Strategic Management Journal (SMJ).

The authors employed the co-citation analysis through the social network analysis.

The authors outlined the evolution of the academic foundations of the structure and emphasized several domains. The economic foundation of SM research with macro and micro perspectives has generated a solid knowledge stock in the literature. Industrial organization (IO) psychology has also been another dominant foundation. Its robust development and extension in the literature have focused on cognitive issues in actors' behaviors as a behavioral foundation of SM. Methodological issues in SM research have become dominant between 2004 and 2011, but their influence has been inconsistent. The authors concluded by recommending future directions to increase maturity in the SM research domain.

This is the first paper to elucidate the intellectual structure of SM by adopting the co-citation analysis through the social network analysis.

This case describes management's sequential reevaluation of Marriott's debt capacity and the decision about how to invest this unused debt. Videotape #5556, “Strategic Leadership,” is designed for use with this case (see Videotape Bibliography).