Harvard Business Review

NOVEMBER 22, 2012

including CNOOC's attempt to purchase Unocal in 2005 and Huawei's attempt to buy 3Leaf Systems in 2011. Failed deals impose significant out-of-pocket costs (financial advisory fees and due diligence expenses) and take up a lot of management time and energy, distracting many senior managers from important line responsibilities.

Due Diligence 15

Due Diligence Strategic Planning Politics Bottom-up 15

Harvard Business Review

APRIL 22, 2014

Like a shopper in a flea market, it is quite easy for a CEO at a midsized company to get distracted by sexy deals. When Lyndon Faulkner joined as CEO in 2005, he felt the then-$80 million firm had to make acquisitions to grow. They have strong due diligence skills. So he taught his team planning and M&A skills.

Company 8

Company Due Diligence CEO Consultative 8

Harvard Business Review

AUGUST 6, 2014

In May of 2005, Yahoo CEO Terry Semel, cofounder Jerry Yang, corporate development executive Toby Coppel, and I — I was then chief financial officer of the Silicon Valley internet company — went on what would turn out to be a fateful trip to China. Things hadn’t gone well up until that point. search engine company Inktomi in 2002.

Chief Financial Officer 10

Chief Financial Officer Operations Learning-by-Doing IPO 10