Realty Executive Integrity

Market-Proven Strategies for Managing the Awkward, Perilous Process of Combining Two Companies into One Once the investment bankers and lawyers have closed their briefcases and gone home, the real work of combining the operations and employees of two independent organizations has just begun. The challenge is to ensure that the valuation and synergies hypothesized prior to the closing of the deal are realized. M&A Integration walks you through every step of this often-overlooked but all too important part of the M&A process. This hands-on, technique-filled book provides strategies, frameworks, guidelines, and real-world examples for managing a successful integration. It reviews over two decades of deals--what worked, what didn't, and why--including: Strategies for creating maximum value from the synergies between integrating firmsThe three stages of a successful integration and how to ensure that all are effectively managedGuidelines for balancing fairness with functional necessity in making personnel decisions Filled with real-world practice and know-how, M&A Integration is the only book you will need to understand every critical step of the integration process. A frank and honest evaluation of the entire integration process, it will help time-pressed M&A decision makers confront and manage issues before they become major obstacles. Mergers and acquisitions, by their very nature, can provide companies with new capabilities, technologies, and products; immediate entry into new markets; and lower operating costs through consolidation of resources. Yet often overlooked in the optimism and excitement of making the deal are the challenges of combining two ongoingenterprises into one. The ultimate cost of this oversight? Lost opportunity, diminished shareholder value, and significant trauma to shareholders, employees, and, most importantly, to the company itself.

Formulating strategy is one thing. Executing it throughout the entire organization... well, that?s the really hard part. Without effective execution, no business strategy can succeed. Unfortunately, most managers know far more about developing strategy than about executing it--and overcoming the difficult political and organizational obstacles that stand in their way. In this book, Larry Hrebiniak offers a comprehensive, disciplined process model for making strategy work in the real world. Hrebiniak shows why execution is even more important than many senior executives realize, and sheds powerful new light on why businesses fail to deliver on even their most promising strategies. He offers a systematic roadmap for execution that encompasses every key success factor: organizational structure, coordination, information sharing, incentives, controls, change management, culture, and the role of power and influence in the execution process. Making Strategy Work concludes with a start-to-finish case study showing how to use Hrebiniak?s ideas to address one of today?s most difficult business execution challenges: ensuring the success of a merger or acquisition. The advice on making M&A strategies work justifies the addition of this book to any execution toolkit. Building the capabilities and culture you?ll need to execute How to align your organization?s skills, resources, and culture around the strategies you?re pursuing Integrating long-term strategy with short-term operations Why managing the short-term is crucial to the success of long-term strategy Ensuring robust coordination... up, down, and sideways Effective information sharing andcooperation: bringing coherence and focus to execution Managing change, including culture change Avoiding "speed traps," resistance, and other change-related problems that hurt execution About the Author Lawrence G. Hrebiniak is a professor in the Department of Management of the Wharton School at the University of Pennsylvania.