Achieving Post-Merger Success
A Stakeholder's Guide to Cultural Due Diligence, Assessment, and Integration
1. Auflage Januar 2010
240 Seiten, Softcover
Wiley & Sons Ltd
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"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
* Profile and assess corporate cultures
* Identify potential or actual culture clash barriers to a merger
or acquisition
* Determine what to do to avoid, minimize, and resolve culture
clash
* Plan for efficient and effective post-merger cultural
integration of the two organizations
Contents of the CD-ROM xiii
Acknowledgments xv
Preface xvii
Introduction 1
PART ONE Mergers, Acquisitions, and OrganizationalEffectiveness 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 SystemicApproach 125
Appendix B: Organizational Alignment Model: A Reading 133
Appendix C: Organizational System Scan Model: An Overview143
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 Materials185
Glossary 193
References 199
Index 203
About the Authors 209
How to Use the CD-ROM 211
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.