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How to evaluate buy build and partner strategy?

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Several influential people in my company keep pushing us to buy other companies. They say that we should look a building solutions internally and partnerships or alliances, but in fact we only every invest in acquisitions. Our product teams are continually shot down when they produce business plans. Why does our executive team focus so much on acquisitions? There seems to be a lot of evidence that acquisitions are not effective. Our own acquisitions seem to make a mess of the company.