Details

Achieving Post-Merger Success

A Stakeholder's Guide to Cultural Due Diligence, Assessment, and Integration
1. Aufl.

von: J. Robert Carleton, Claude Lineberry
37,99 €
Verlag:	Wiley
Format:	PDF
Veröffentl.:	16.07.2004
ISBN/EAN:	9780787972912
Sprache:	englisch
Anzahl Seiten:	240

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Beschreibungen

Titelbeschreibung

“The failure rate of mergers and acquisitions is unreasonable, unacceptable, and unnecessary,” say Claude S. Lineberry and J. Robert Carleton in this much-needed resource, which outlines their unique, proven, and practical process for increasing the success of mergers and acquisitions. Written for all those with a vested interest in the success of the deal—board of directors, executives, managers, employees, and shareholders—and based on years of research and real-world experience, Achieving Post-Merger Success is a down-to-earth guide that gives stakeholders the tools they need to <ul> <li>Profile and assess corporate cultures</li> <li>Identify potential or actual culture clash barriers to a merger or acquisition</li> <li>Determine what to do to avoid, minimize, and resolve culture clash</li> <li>Plan for efficient and effective post-merger cultural integration of the two organizations</li> </ul>

Inhaltsverzeichnis

List of Figures, Exhibits, and Worksheets xi Contents of the CD-ROM xiii Acknowledgments xv Preface xvii Introduction 1 PART ONE Mergers, Acquisitions, and Organizational Effectiveness 5 1 Mergers, Acquisitions, and Organizational Culture 7 The M&A Report Card 8 M&A Failure Costs 9 Why Mergers and Acquisitions Really Fail 13 Organizational Culture and Culture Clash 15 A Case Study in Managing Culture—British Airways 16 The Prevailing Wisdom Is Wrong 16 Culture as the Culprit 17 Defining Organizational Culture 18 Culture and Performance—The Hard Data 19 National Versus Organizational Culture 20 2 The Organization as a System 23 System Awareness 24 The Individual as a Performance System 25 Winning the Battle While Losing the War 26 Cross-Functional Teamwork 29 Management and the System 29 Synthesis Before Analysis 30 Culture Is Not a System Component 31 3 Organizational System Alignment 35 A Systemic Approach 36 Getting the Balance Right 37 An Organizational System Model 37 Checking the Vital Signs 46 PART TWO Cultural Due Diligence and Assessment 49 4 Overview of Cultural Due Diligence 51 Cultural Due Diligence 53 The Case for Cultural Due Diligence 54 Off-the-Shelf vs. Customized Cultural Assessment 56 Characteristics of a Customized CDD Model 59 CDD Deliverables 60 Due Diligence and Legal Restrictions 60 Pre Letter of Intent/Acceptance Activities 61 Assessing Degree of Difficulty of Cultural Integration 65 Getting It Right—The Hewlett-Packard/Compaq Merger 65 5 Performing Cultural Due Diligence 69 The CDD Process 69 Cultural Assessment 76 Drafting the Cultural Alignment and Integration Plan 81 PART THREE Cultural Alignment and Integration 83 6 Aligning and Integrating the Executive Group 89 Planning Cultural Alignment and Integration 89 Aligning the Organization 91 Discussing Results and Recommendations with CEO 91 Aligning and Integrating the Executive Group 94 Issues-Based Team Building for the New Executive Team 96 7 Aligning the Management Group 99 Gaining Clarity on Organizational Direction 100 Values and Practices 101 Gaining Agreement on Values and Practices 102 Communicating the Session Results 103 Tiger Teams 104 Feedback-Based Management Planning Sessions 105 Developmental Streams 107 Individual Action Plans 109 Follow-Up Sessions 109 8 Aligning the Total Organization 111 Design and Activities for All-Staff Sessions 111 The Case for Change 113 Work-Process Re-Engineering Sessions 115 9 Cultural Integration Success Measures 117 Financial Success Measures 117 Cultural Integration Success Measures 118 10 Summary and Conclusion 121 APPENDICES 123 Appendix A: The British Airways Transformation: A Systemic Approach 125 Appendix B: Organizational Alignment Model: A Reading 133 Appendix C: Organizational System Scan Model: An Overview 143 Appendix D: Organizational Scan: Sample Probes 149 Appendix E: Sample Values and Practices 151 Appendix F: Sample Manager 360-Degree Feedback Report: For A. Manager in XYZ Corporation 155 Appendix G: Sample Manager’s Action Planning Guide 159 Appendix H: Staff Involvement Day: Sample Agenda and Materials 185 Glossary 193 References 199 Index 203 About the Authors 209 How to Use the CD-ROM 211

Autorenportrait

J. Robert Carleton is co-founder and senior partner of Vector Group, Inc. and a director of Vector Data Services and Vector Europe, Ltd. He has worked in both the public and private sectors and has extensive experience as both a manager and consultant. Claude S. Lineberry is co-founder and senior partner of Vector Group, Inc. He has worked for more than thirty years on a wide range of organizational issues with a variety of clients around the world.

Back cover copy

The "How-to" Guide for Assessing and Integrating Cultures that Will Create Successful Mergers and Acquisitions "An early focus on culture integration, beginning with a solid cultural due diligence. was a critical success factor in our integration with Compaq. This book provides helpful models and tools for getting it right" —Anne Murray Allen, lead, culture integration, Hewlett Packard "Time and time again, mergers fail because of the lack of the new organization’s ability to integrate the human capital. Typically, not much more than lip service is given to combining the two organizational cultures beforehand. It never shows up in spreadsheets and rarely in integration Gantt charts. Carleton and Lineberry provide a "how-to" guide for assessing culture pre-merger and maximizing on it post-merger. This is a must read for anyone considering a merger, large or small." —Owen Garrick, MD, co-head, mergers and acquisitions, Novartis Pharmaceuticals "This is an important contribution to an important field. The authors have provided lots of checklists and how-to guides that show their enormous experience in the area and provide an excellent roadmap for others who are interested in M&A’s that do not wind up on the trash heap of ill-founded dreams that do not come true." —Dr. Stephen H. Rhinesmith, author, The Manager's Guide to Globalization: Six Keys to Success In a Changing World "Lineberry and Carleton have laid out a rational approach to a critical aspect of business which more times than not, falls prey to irrational and impetuous behavior. Stockholders, employees and customers alike will benefit tremendously from the wise implementation of these ideas in future mergers and acquisitions." —Dr. Geary A. Rummler, author, Improving Performance: How to Manage the White Space on the Organization Chart "The purpose of this book is to provide managers with tools for targeting cultural problems as the primary culprit in M&A failure and to provide a general guide to cultural due diligence and integration. It certainly fulfills this purpose, one that is unique in the marketplace." —Dr. Christopher C. Geczy, assistant professor of finance, The Wharton School "This book could and should become a major influence in the field of mergers and acquisitions and in the field of performance improvement. The authors have a unique ability to relate business issues to cultural issues and cultural issues to business issues." —Dr. Dale Brethower, professor emeritus, Western Michigan University

Unpublished endorsement

"An early focus on culture integration beginning with a solid cultural due diligence was a critical success factor in our successful integration with Compaq. This book provides helpful models and tools for getting it right” --Anne Murray Allen, lead – culture integration, Hewlett Packard “Time and time again, mergers fail because of the lack of the new rganization’s ability to integrate the human capital. Typically, not much more than lip service is given to combining the two organizational cultures beforehand. It never shows up in spreadsheets and rarely in integration Gantt charts. Carleton and Lineberry provide a “How To” guide for assessing culture pre-merger and maximizing on it post-merger. This is a must read for anyone considering a merger, large or small.” --Owen Garrick, MD, co-head – mergers and acquisitions, Novartis Pharmaceuticals "This is an important contribution to an important field. The authors have provided lots of checklists and how-to guides that show their enormous experience in the area and provide an excellent roadmap for others who are interested in M&A's that do not wind up on the trash heap of ill-founded dreams that do not come true." --Dr. Stephen H. Rhinesmith, author, The Manager's Guide To Globalization:; Six Keys For Success In A Changing World "Lineberry and Carleton have laid out a rational approach to a critical aspect of business which more times than not, falls prey to irrational and impetuous behavior. Stockholders, employees and customers alike will benefit tremendously from the wise implementation of these ideas in future mergers and acquisitions." --Geary A. Rummler, author, Improving Performance: How To Manage The White Space On The Organization Chart "The purpose of this book is to provide managers with tools for targeting cultural problems as the primary culprit in M&A failure and to provide a general guide to cultural due diligence and integration. It certainly fulfills this purpose, one that is unique in the marketplace." --Dr. Christopher C. Ceczy, assistant professor of finance, The Wharton School "This book could and should become a major influence in the field of mergers and acquisitions and in the field of performance improvement. The authors have a unique ability to relate business issues to cultural issues and cultural issues to business issues." --Dr. Dale Brethower, professor emeritus, Western Michigan University