In my first column for National Underwriter Life & Health, which ran in the July 2013 issue, I wrote about taking risks, seizing opportunities and how “that’s just the way we’ve always done things” is not an acceptable mantra for any company or individual looking to evolve and succeed. Whether it’s changing jobs, moving to a new town or realigning a business model, change — though often feared — can be good.
In the business world, mergers are one way to change. By expanding a business through bringing in another company (usually a competitor) under one name, companies can grow and prosper. History is littered with successful examples of mergers, from Exxon and Mobil to NationsBank and Bank of America to Procter & Gamble and Gillette to Disney and Pixar, just to name a few. These historical unions created powerful companies with massive market share.