Underscoring the significance and impact of building new value through M&A and alliances to the New Jersey business community, NJBiz, the leading business weekly for New Jersey, featured the “Reinventing Your Business through Innovation” Conference as their lead story for November 8, 2011: “At conference, ACG focuses on strategic acquisitions, partnerships.” Organized by the Association for Corporate Growth (ACG)/New Jersey in partnership with Fairleigh Dickinson University’s Rothman Institute of Entrepreneurship, this year’s conference theme was “Creating New Value Through Mergers, Acquisitions & Strategic Alliances.”
The keynote address was presented by Ralph A. LaRossa, President & COO, of Public Service Electric and Gas (PSE&G). Mr. LaRossa shared his insights on the power that innovative partnerships have had in creating new value for PSE&G and its stakeholders. It is particularly noteworthy that the conference occurred just one week after the historic East Coast October snowstorm of 2011, which brought down an unprecedented volume of trees and branches all over northern and western New Jersey, causing power loss for hundreds of thousands of PSE&G customers, us included. The audience voiced understandable interest in how PSE&G coped with the disaster, and the innovations that could in the future make it easier for utilities to more quickly and effectively restore power to storm-stricken regions.
The two executive panels that followed the keynote address deepened the focus on how companies of all sizes and geographic scope can build new value and transform themselves through both M&A and strategic alliances and partnerships. Over the course of the discussions, a theme emerged that the level of commitment, intensity and benefits of external business relationships runs across a broad spectrum ranging from short term tactical partnerships to uniting companies in a transformative merger, similar to the range of personal relationships from casual dating to marriage.
As a founder of the yearly conference series, co-chair on behalf of ACG NJ, sponsor, and panel moderator, we are delighted that we could contribute to the success of this year’s event.
If you’d like to learn more about our insights on how business leaders can enable their companies to gain even more value from their external business relationships, we invite you to read our “Harper Report” on “Four Steps to Powerful Strategic Alliances.”