The Human Side of M & A / Edition 1

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Overview

There are thousands of mergers every year and, by some estimates, two-thirds of them either fail or fall far short of expectations. How can leaders keep their merger from becoming a head-on collision?
In The Human Side of M&A, Dennis Carey and Dayton Ogden argue that most failed mergers looked good on paper—they made financial and strategic sense—but the crucial human element was neglected or overlooked. Consequently, corporate cultures often clash and wreck any chance that the companies will work harmoniously together.
The authors, who have worked with many companies in the process of merging, draw on their unique experience to demonstrate how to address the human side of a merger, revealing pitfalls to avoid as well as best practices to pursue. They describe how to assess the quality of the people on both sides, aligned with the strategy, to determine whom to retain. They argue that the CEOs need to create a new vision for the combined company (one that differs from the visions of the two individual entities). And they stress that it is vitally important to move quickly once the merger is approved so that the new enterprise can hit the ground running on the first official day of operating as a combined company. The book concludes with a rigorous statistical appendix that analyzes some of the most successful mergers of the past ten years, validating the book's underlying theme and conclusions.
While the volume of mergers may wax and wane depending on a host of economic factors, mergers will endure as a logical, efficient, and profitable strategy for many companies in a global economy. This book will help ensure the success of those who choose this path.

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Editorial Reviews

From the Publisher
"The Human Side of M&A provides a refreshing look at the process of mergers and acquisitions. It focuses on the most important asset in deal making-people...Managers of organizations contemplating M&A, or those who are exploring other ways of connecting with potential partners, will find it informative and illustrative. It is not a book full of fluff or new-age advice about bringing everyone together in a big, happily merged organizational family. It is straight talk that tells top managers to be as attentive to the human side of the deal as they are to the financial side."—Carol M. Sanchez, Academy of Management Executive

"The Darwinian nature of a large scale merger—if correctly executed—can create a tremendous uplift in management talent. This book provides you with a solid game plan on 'how to do it'." —J. P. Garnier, CEO, GlaxoSmithKline

"Good strategy is behind any merger, but great leadership is behind all successful mergers. Having serviced the top management of many, Dennis Carey and Dayton Ogden show how the right culture, right people, and right board are the difference between conception and execution in mergers and acquisitions. The chapter, Improve the Odds, will improve your odds." —Michael Useem, professor and director of the Wharton School's Leadership Center and author of Leading Up and The Leadership Moment

"When you get right down to what makes mergers work in the end—it's getting the people side of the equation sorted out fast. This book provides an extremely helpful framework to manage these issues in ways that will significantly enhance the execution of any M&A transaction." —Paul Hanrahan, President and CEO, AES Corporation

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Product Details

  • ISBN-13: 9780195140965
  • Publisher: Oxford University Press, USA
  • Publication date: 3/28/2004
  • Edition number: 1
  • Pages: 208
  • Lexile: 1340L (what's this?)
  • Product dimensions: 9.50 (w) x 6.30 (h) x 0.80 (d)

Meet the Author

Dennis C. Carey is vice chairman of Spencer Stuart, U.S. He has recruited CEOs and directors for many of the largest global companies and has led numerous large-scale merger integration projects. He is the founder of G100 and the CEO Academy, and the coauthor of How to Run a Company.
Dayton Ogden is chairman of Spencer Stuart and previously served for nine years as the firm's chief executive. His search consulting practice focuses on CEO succession and board recruiting for a broad range of international clients. He serves on the board of the American Business Conference and is secretary and a director of Project HOPE.
The authors are coauthors of CEO Succession (Oxford University Press, 2000).

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Table of Contents

Preface
Ch. 1 Introduction: Improve the Odds 3
Ch. 2 Take Stock of Human Capital 17
Ch. 3 Create a New Vision 45
Ch. 4 Retain and Motivate Key Players 70
Ch. 5 Integrate Deliberately and Swiftly 92
Ch. 6 Survive the Regulatory Process 115
Ch. 7 Beef Up the Board 138
Ch. 8 Conclusion: The Lucky Seven: Best Practices for Successful Mergers 158
App Smart Money and Smart Bidders 169
Index 185
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Sort by: Showing all of 2 Customer Reviews
  • Posted September 12, 2011

    Awesome

    Terrific

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  • Anonymous

    Posted June 5, 2006

    The soft side of hard business deals

    During the 1990s, mergers and acquisitions (M&A) hit a historic high. Yet academic research confirms what anecdotal evidence suggested: most mergers do not work. Authors Dennis C. Carey and Dayton Ogden (writing with Judith A. Roland) contend that most mergers fail because of mismanagement and neglect of the merged company¿s 'soft side' - the cultural and human dimension. They draw on their experiences as human resource consultants to outline a strategy for assessing people, creating vision, integrating mergers and addressing the soft side¿s hard problems. We find that the book¿s greatest strength is its interviews with executives and other insiders who have direct experience with high-profile mergers, both successes and failures. If you are an executive or human resources manager in a company on either side of a merger - or if you think you¿ll find yourself in that position in the future - read this book before you sign that deal.

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