Use Exhibit 9.1 as a decision tree guide on your focal firm. Identify a strategic resource gap to study about 3M. Use the related questions to guide your thinking on the appropriate corporate strategy (build, borrow, or buy) to employ to close this gap and move the company forward.
 

EXHIBIT 9.1 / Guiding Corporate Strategy. The Build-Borrow-or-Buy Framework Strategic Resource Gap Key Question Action Buy-Borrow- or-Build? How relevant are Internal resources? High Internal Development Build Low How tradable are the targeted resources? High - Contract - Licensing Contractual Alliance Low How close to your resource partner? Borrow Low Strategic Alliance - Equity Alliance Joint Venture High How well can you integrate the target firm? High Acquisition Buy Revisit build-borrow-buy options or reformulate strategy Alliance with Equity Source: Adapted from L. Capron and W. Mitchell (2012) Build, Borrow, or Buy Solving the Growth Dilemma (Boston, MA: Harvard Business Review Press)