Inarticulate ramblings of a management consultant

the day to day experiences of a consultant operating in weird and wonderful client situations

Post merger integration

The messy business of retention in merger integration projects

I suspect that the phrase most often heard and rarely delivered against in the transactions world is ‘people are our most important asset‘. It’s right up there with ‘there’s a natural cultural fit between our two companies‘ and ‘this acquisition will be earnings accretive in x years’! Why does the tendency to make statements based on zero knowledge and little chance of delivery continue in a market situation which has […]

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The hangover from post merger integration

I was with a new client today to discuss a new procurement initiative for a business which spans 14 countries in Asia. The initial transaction which formed this large and very successful operation was completed in late 2008, an incredible time to make an acquisition both in terms of price and expectation management in terms of shareholders. Since then it has performed extraordinarily well both in terms of growth and […]

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Mergers and acquisitions are here to stay

I often think that I’ve dedicated the last 14 years of my consulting career to an activity which is entirely defined by the famous quote about madness…to paraphrase, doing the same thing over and over and expecting a different result. Why is this? The reason is simple: Mergers and acquisitions offer opportunities for CEOs in every type of situation; defensive, growth orientated, focused on the need to diversify geographically or […]

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Innovation…or the hidden strength behind every successful enterprise

The flavour of the last few years has been innovation…across geographies, sectors and for every organisational structure from government to non-profit to corporates of any shape and size, innovation is now recognised as a critical differentiator in any successful business transformation. Despite this, almost all of the typical processes in post merger integration or transformation generate a behavioural pattern which actively discriminates against it. An example: A Spanish company that […]

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People versus Process

At the risk of antagonising a number of my close colleagues and friends who work with me currently or with whom I’ve had the pleasure of working in the past, I wanted to ask a challenging question. In 14 years of working with companies going through a post-acquisition integration process, there’s been an outstanding issue which to my mind has never been answered properly – Why is it that process […]

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