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2014 has already proven to be a big year for mergers and acquisitions, and success is not optional but crucial for all involved. Gershon Mader, founder and President of Quantum Performance Inc., a management consulting firm specializing in generating total alignment and engagement in organizations, shares four steps to ensuring mergers and acquisitions work.
Thornhill, Ontario (PRWEB) July 16, 2014
This year Google has been on an acquisition spree. Actavis and Forest Laboratories announced a mega merger. Jos. A. Bank worked towards a purchase of Eddie Bauer. Apple is even buying some startups in 2014. Just this month, AT&T agreed to buy DirecTV for nearly 50 billion dollars. With promises made to customers of both companies, time will tell where the chips may fall. While company mergers and acquisitions are activities as old as commerce is itself, stakeholders and the general public always wonder, Will it work? Best-selling author and transformational management expert Gershon Mader says there are steps that any company can take to guarantee success.
Mader says it is a known fact that most mergers or acquisitions fail to fulfill their potential. The archives of the Wall Street Journal show that upwards of 80 percent of mergers and acquisitions fail to fulfill the strategic goals that justified the merger and/or acquisition within the expected timeframe, he says. In many cases the resultant organizations are less effective and less successful than the original two by themselves, he adds.
Companies that want to avoid this dire prediction and ensure their Merger and Acquisition (M&A) succeeds would be wise to invest as much time and effort in the cultural, personal and personnel aspects of their integration as they do on the content and process. He shares four specific steps that companies such as Google, Jos. A. Bank, or AT&T can implement to ensure that a merger or acquisition will work and fulfill its purpose.
1. Establishing an environment where people can communicate and dialogue about the M&A in an open, honest, authentic, courageous, and effective way.
2. Eliciting genuine ownership on both sides for the success of the M&A.
3. Making sure both parties have an opportunity to complete their respective pasts in an honorable and empowering way.
4. Aligning the combined teams around a new shared future and identity that embody the best of both cultures and operations.
Gershon Mader is founder and President of Quantum Performance Inc., a management consulting firm specializing in generating total alignment and engagement in organizations.
His work has encompassed a broad range of industries including banking, telecommunications, manufacturing, entertainment, real estate and retail.
Based on his work with over 60,000 people, Mader co-authored the best-selling business book The Power of Strategic Commitment. The book offers readers practical tools, proven methods, and meaningful case studies garnered from a broad range of global companies.
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