The strategy of Citigroup under CEO Sanford Weill was to create a "financial supermarket" where customers shop for a variety of financial services within the same company. This strategy was executed via a series of acquisitions but ultimately failed. This situation was the result of
a. Citigroup's managers focusing too much on acquisitions at the expense of managing their existing businesses.
b. key managers leaving from the acquired firms, which left the firms with inferior management talent.
c. the firm becoming too vertically integrated.
d. the firm becoming too focused on its core businesses.
Answer: Citigroup's managers focusing too much on acquisitions at the expense of managing their existing businesses.