Abstract
Purpose – Successful growth strategy has a lot to do with careful preparation to identify attractive markets and new sources of customer value and competitive advantage. If the plan for achieving growth includes acquisitions, then we also have to consider company valuations and the availability of suitable acquisition targets. A challenge for many companies is knowing when and how much to adapt their strategy in the light of specific acquisition opportunities that become available. If a poorly‐performing competitor becomes available at a modest price should we try to adapt our strategy to take advantage of the opportunity? If the price for an attractive acquisition is bid up beyond expectations should we walk away or try to find a way to pay what the market says the company is worth? In this article, Stuart Jackson shows how successful acquirers combine both strategic discipline and a willingness to react quickly to market opportunities, an approach he calls strategic opportunism.
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