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This book offers a framework and process to help you answer the perennial question of whether you should grow new capabilities internally, access them through licensing or other partnership arrangements, or acquire them by purchasing other companies. How should you grow your organization? It's one of the most challenging questions an executive team faces - and the wrong answer can break your firm. The problem is, most firms' growth strategies emphasize just one type of growth - some go for organic growth, others for M&A. When these strategies falter, the common response is simply to try harder. That can be fatal: firms falling into this "implementation trap" usually end up losing out to a competitor whose approach is more inclusive. So where do you start? By asking the right questions, argue INSEAD's Laurence Capron and coauthor Will Mitchell, of Duke University's Fuqua School of Business and the Rotman School of Management at the University of Toronto. Drawing on more than two decades of research and teaching, Capron and Mitchell have found that a firm's aptitude for determining the best "resource pathways" for its growth has a defining impact on its success. They've come up with a helpful framework, reflecting practices of a variety of successful global organizations, to help you determine which path is best for yours. The "Resource Pathways" framework is built around three strategic questions: BUILD: Are your existing internal resources relevant for developing the new resources that you have targeted for growth? If not, consider external sourcing options; BORROW: Could you obtain the targeted resources via an effective relationship with a resource partner? The answer can vary widely-from hiring a contractor with a simple agreement to engaging at a deeper level via an alliance; and, BUY: Do you need broad and deep relationships with your resource provider? This will help determine whether you should move toward acquisition, or consider an alternative integration strategy. Written for large multinationals and emerging firms alike, with well thought-out examples, "Build, Borrow, or Buy" will help solve a perennial question for business executives. Whether building a firm or bringing new opportunities to an existing company, this book will help guide you through change-and prime your organization for optimal growth.