Business Strategy: Planning the Firm’s Future

Abstract

A few years ago “Anheuser-Busch acquires Interbrew” would have been the expected headline announcing the consolidation of the global beer industry. Anheuser-Busch, the world’s most powerful brewer, was well positioned to lead an industry consolidation with its strong stock price, 50 percent share of the US market, and the industry’s most recognized brand. So how did Interbrew (now InBev), a small European brewer operating in a country of 10 million people, become the industry leader and eventually acquire its much larger US competitor? There are no simple explanations for InBev’s success, but there are useful lessons about the power of strategic thinking and business planning. The story provides an opportunity to compare how two family-led businesses did their planning — to create two very different futures.¹