英语翻译HowCultureAffectsMergersandAcquisitions.IndustrialManagement•Sept,2000•ExecutiveSummaryEvencompaniesthatappeartobeverysimilarcanhavedifferentcorporatecultures--andthoseculturescanbehardtointegr
英语翻译
HowCultureAffectsMergersandAcquisitions.
IndustrialManagement•Sept,2000•
ExecutiveSummary
Evencompaniesthatappeartobeverysimilarcanhavedifferentcorporatecultures--andthoseculturescanbehardtointegratewhencompaniesmergeorareacquired.Managingculturalchange,theauthorargues,iscriticaltothesuccessofamergeroracquisition.Hediscusseswhatcultureis,howtoassessit,andhowtointegratetwodifferentcorporatecultures.
Makenomistakeaboutit:Thesearethego-goyearsformergersandacquisitions.Buthoweveradepttopexecutiveshavebeeninworkingtheartofthedeal,manyarenowsingingthepost-M&Ablues.Mergingbalancesheets,itturnsout,isfareasierthanmergingcultures.Bysomeestimates,85percentoffailedacquisitionsareattributabletomismanagementofculturalissues.
Smartcompaniesknowthatculturalduediligenceiseverybitasimportantascarefulfinancialanalysis.Theyknowthatthevaluesanorganizationholdsareimbeddedinorganizationalstrategyexercisingakindofgravitationalpullondecision-making.Withoutunderstandingtheoftenhiddenandimpliedvaluesthatdrivedecision-makingateverylevel,thechancesaregreatthatamergeroracquisitionwillquicklybeawashinmisunderstanding,confusion,andconflict.