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Conglomerates Operating vs. Holding Companies
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  1. ConglomeratesOperating vs. Holding Companies BA 469 Professor Dowling Spring Term, 2005

  2. OPERATING COMPANIES Understand businesses acquired ‘Fit’ is key to acquisitions Emphasize behavioral control HOLDING COMPANIES Focus on asset utilization/financial health Opportunity driven; portfolio fit Outcome measures key to managerial evaluation (Berkshire Hathaway) Conglomerates

  3. Senior management team serves as a key resource to division managers on operating & strategy questions Consistent operating strategy Goal = synergy of operations/products Long term rebuild strategy for acquisitions; turn around fundamentals Focus on profit contribution, EBIT, debt/equity Corporate strategy related to portfolio mix Quick fix i.e. management changes and downsizing Conglomerates