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Should Companies Retain "Strategic" Cash?

Harvard Business Review

To enhance financial flexibility, companies have been retaining unprecedented amounts of cash on their balance sheets, calling it "strategic" cash to distinguish it from the "operating" cash that is needed to run the business. Barring a tax holiday, this cash is effectively "trapped" offshore. Facilitate Acquisitions.

Company 13
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Capitalism’s Future Is Already Here

Harvard Business Review

As more firms became multinationals, fewer showed loyalty to particular communities or any hesitation to migrate their operations to wherever costs were lowest. Employees were viewed more as fungible inputs to operations, and customers viewed more as targets within more and less lucrative segments.