At HBS, I owe considerable gratitude to Prof. Forest Reinhardt and his willingness to cooper- ate on the editing of an HBS case study on corporate strategy at the German energy giant . Thanks to his support, I was able to challenge my research at a very high level and to experience the exciting and inspiring atmosphere at Harvard University. I also want to thank Andrew Feldman and the folks of MIT Euroclub for their friendship and personal support. Like any dissertation, this study would not have been possible without the support of prac- tioners that provide the empirical data. For.