Synergy Value And Strategic Management

Author : Stefano Garzella,Raffaele Fiorentino
Publisher : Springer
Page : 91 pages
File Size : 41,9 Mb
Release : 2016-08-29
Category : Business & Economics
ISBN : 9783319406718

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Synergy Value and Strategic Management by Stefano Garzella,Raffaele Fiorentino Pdf

This book addresses synergy management, which poses an important challenge for firms, advisors and practitioners involved in mergers and acquisitions (M&A). Synergy plays a key role in M&A contexts, both in the decision-making process and, subsequently, in the integration phase. However, despite the fact that synergy value is commonly regarded as one of the key success factors in M&A, research shows that firms generally fail to achieve the expected synergy. The extant literature is characterized by a lack of comprehensive models of synergy management: the assessment of synergy value remains a “black box” for scholars and practitioners alike. The authors provide a comprehensive framework for synergy management by integrating findings from prior research and various disciplines. The framework highlights the main dimensions of synergy management in mergers and acquisitions, common pitfalls, and new models and tools for avoiding them. As such, the book enriches the M&A literature, offers new insights for scholars, and provides valuable guidelines for practitioners involved in synergy management.

Author : Mark Sirower,Jeff Weirens
Publisher : Harvard Business Press
Page : 238 pages
File Size : 42,5 Mb
Release : 2022-03-15
Category : Business & Economics
ISBN : 9781647820435

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The Synergy Solution by Mark Sirower,Jeff Weirens Pdf

The new M&A bible. Few actions can change the value of a company—and its competitive future—as quickly and dramatically as an acquisition. Yet most companies fail to create shareholder value from these deals, and in many cases they destroy it. It doesn't have to be this way. In The Synergy Solution, Deloitte's Mark Sirower and Jeff Weirens show acquirers how to develop and execute an M&A strategy—end to end—that not only avoids the pitfalls that so many companies fall into but also creates real, long-term shareholder value. This strategy includes how to: Become a prepared "always on" acquirer Test the investment thesis and DCF valuation of a deal Plan for a successful Announcement Day, and properly communicate synergy promises to investors and other stakeholders Realize those promised synergies through integration planning and post-close execution Manage change and build a new, combined organization Sirower and Weirens provide invaluable background to those considering M&A, laying out the issues they have to consider, how to analyze them, and how to plan and execute the deal effectively. They also show those who have already started the process of M&A how to maximize their chances of success. There's an art and a science to getting mergers and acquisitions right, and this powerful book provides the insights and strategies acquirers need to find success at every stage of an often complex and perilous process.

Author : Angelo Dringoli
Publisher : Edward Elgar Publishing
Page : 288 pages
File Size : 50,5 Mb
Release : 2016-10-28
Category : Business & Economics
ISBN : 9781786430687

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Merger and Acquisition Strategies by Angelo Dringoli Pdf

The decision to carry out a merger or acquisition is certainly a risky one, not least because of the number of variables influencing the final outcome. It is also a decision frequently based on the wrong objectives and an incorrect evaluation process. With this in mind, this important new book offers solutions for reducing the high percentage of mergers and acquisitions (M&As) that fail. It adopts a normative approach, using theoretical analysis to show what managers could and should do to increase shareholders’ value through successful M&A strategies. It also explores the conditions that are suitable for favouring a certain type of M&A (horizontal, vertical or diversified) over the others. In conclusion, the book presents case studies of successful M&A strategies providing a link between theory and practice.

Author : Patrick Daum
Publisher : Anchor Academic Publishing (aap_verlag)
Page : 101 pages
File Size : 50,7 Mb
Release : 2013-05-17
Category : Business & Economics
ISBN : 9783954890026

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International Synergy Management: A Strategic Approach for Raising Efficiencies in the Cross-border Interaction Process by Patrick Daum Pdf

Global economic integration has changed business conditions significantly. Corporations operating internationally and establishing foreign subsidiaries are facing the obligation as well as the challenge to profit from cross-border interaction. However, potential synergetic benefits provided by the international environment are accompanied by even more demanding challenges. This study elaborates to which extend German small and medium-sized manufacturing businesses could benefit from the implementation of a strategic cross-border synergy management. The study is based on a single case study deriving the research hypotheses and a survey investigating cross-border interaction throughout a sample of small and medium-sized manufacturing businesses. Based on the research findings, this paper proposes a holistic framework, designed for strategists of small and medium-sized manufacturing business. It outlines the establishment of the cross-border synergy management concept as part of the corporate strategy and the efficient and effective management of international interaction. 'Synergies are not realized by themselves - they have to be identified and actively developed within a professionally coordinate process. Management of synergy seeking organizations is asked for intensive efforts beyond daily operations' (Weber and Roventa, 2006).

Author : Yaakov Weber
Publisher : FT Press
Page : 241 pages
File Size : 44,7 Mb
Release : 2013-12-05
Category : Business & Economics
ISBN : 9780133014204

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A Comprehensive Guide to Mergers & Acquisitions by Yaakov Weber Pdf

Leverage today's most complete and practical framework for driving superior business value from mergers and acquisitions -- both domestic and international. A Comprehensive Guide to Mergers and Acquisitions Management focuses on critical success factors across every stage of the process, including planning, screening, negotiation, due diligence, transition management structures, post-merger integration, leadership and trust, cultural integration, HR practices, control, monitoring, and more. Authored by Yaakov Weber, an international expert in M&A management, strategic alliances, and strategic management, this book's uniquely interdisciplinary approach fully addresses both operational and cultural requirements, supporting participants in every role. Replete with recent examples and cases, it pays special attention to crucial strategic and behavioral linkages between pre- and post-merger stages, explaining why they are so important and how they can be managed to create maximum value. Throughout, Weber provides practical tools, tables, and figures that can help M&A implementers ensure best performance and achieve success where others have failed. As just one example, he provides proven instruments for analyzing cultural differences and the potential for synergy, and translating that potential into reality. For multiple audiences, including board members and top executives who must evaluate the strategic and financial issues associated with M&A; investment bankers, VCs, and other investors who must screen and select acquisitions; managers who must execute business combinations; consultants in strategy, HR, culture, and other areas; and faculty and students in executive education, MBA, and BA-level business programs.

Author : Michael A. Hitt,Jeffrey S. Harrison,R. Duane Ireland
Publisher : Oxford University Press
Page : 241 pages
File Size : 45,5 Mb
Release : 2001-03-22
Category : Business & Economics
ISBN : 9780195354560

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Mergers & Acquisitions by Michael A. Hitt,Jeffrey S. Harrison,R. Duane Ireland Pdf

In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This M&A action was merely the latest in a growing trend of "blockbuster" mergers over the past several years. Once a phenomenon seen primarily in the United States, mergers and acquisitions are increasingly being pursued across national boundaries. In short, acquisition strategies are among the most important corporate-level strategies in the new millennium. The need for clear, complete, and up-to-date guide to successful mergers and acquisitions had never been greater. This book more than fills that need. Looking at successful--and unsuccessful--mergers and acquisitions in a number of different industries, Mergers and Acquisitions: A Guide to Creating Value explains how to conduct an acquisition and how to avoid pitfalls that have doomed many such ventures. The authors take the reader step-by-step through the process, starting with the elements of a successful merger, due diligence to ensure that the target firm is sound and fits well with the acquiring firm, and how mergers and acquisitions are financed. They move on to explore how firms find partners/targets for acquisitions that have complementary resources and how to find partners with which integration and synergy can be achieved. Finally, they discuss the potential hazards found in M&A's and how to avoid them, how to conduct successful cross-border acquisitions, and how to ensure that ethical principles aren't breached during the process. Based on 15 years of research, this essential guide goes beyond specific case studies to cover all aspects of these ventures, making it required reading for all managers seeking to build a successful strategy.

Author : Sebastian Knoll
Publisher : Springer Science & Business Media
Page : 389 pages
File Size : 55,8 Mb
Release : 2008-07-17
Category : Business & Economics
ISBN : 9783834996879

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Cross-Business Synergies by Sebastian Knoll Pdf

Sebastian Knoll suggests that the successful realization of growth synergies is associated with a selective focus on specific growth opportunities, decentralized cross-business collaboration that motivates productive business unit self-interest, and a corporate management approach that guides and balances this self-interest in an evolutionary fashion.

Author : Mark L. Sirower
Publisher : Simon and Schuster
Page : 304 pages
File Size : 52,7 Mb
Release : 2010-05-11
Category : Business & Economics
ISBN : 1439137706

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The Synergy Trap by Mark L. Sirower Pdf

With acquisition activity running into the trillions of dollars, the acquisition alternative continues to be the favorite corporate growth strategy of this generation's executives. Unfortunately, creating shareholder value remains the most elusive outcome of these corporate strategies. After decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research first cited in Business Week, Mark L. Sirower explains how companies often pay too much -- and predictably never realize the promises of increased performance and competitiveness -- in their quest to acquire other companies. Armed with extensive evidence, Sirower destroys the popular notion that the acquisition premium represents potential value. He provides the first formal and functional definition for synergy -- the specific increases in performance beyond those already expected for companies to achieve independently. Sirower's refreshing nuts-and-bolts analysis of the fundamentals behind acquisition performance cuts sharply through the existing folklore surrounding failed acquisitions, such as lack of "strategic fit" or corporate culture problems, and gives managers the tools to avoid predictable losses in acquisition decisions. Using several detailed examples of recent major acquisitions and through his masterful integration and extension of techniques from finance and business strategy, Sirower reveals: The unique business gamble that acquisitions represent The managerial challenges already embedded in current stock prices The competitive conditions that must be met and the organizational cornerstones that must be in place for any possibility of synergy The precise Required Performance Improvements (RPIs) implicitly embedded in acquisition premiums and the reasons why these RPIs normally dwarf realistic performance gains The seductiveness and danger of sophisticated valuation models so often used by advisers The Synergy Trap is the first exposé of its kind to prove that the tendency of managers to succumb to the "up the ante" philosophy in acquisitions often leads to disastrous ends for their shareholders. Sirower shows that companies must meticulously plan -- and account for huge uncertainties -- before deciding to enter the acquisition game. To date, Sirower's work is the most comprehensive and rigorous, yet practical, analysis of the drivers of acquisition performance. This definitive book will become required reading for managers, corporate directors, consultants, investors, bankers, and academics involved in the mergers and acquisitions arena.

Author : Vincent Schade
Publisher : Anchor Academic Publishing (aap_verlag)
Page : 71 pages
File Size : 48,5 Mb
Release : 2014-02-01
Category : Business & Economics
ISBN : 9783954896653

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Successful Management of Mergers & Acquisitions: Development of a Synergy Tracking Tool for the Post Merger Integration by Vincent Schade Pdf

In Business Development, Mergers & Acquisitions (M&A) have become an increasingly attractive growth opportunity among companies over a long period of time. Nowadays, there is hardly a day where current developments of ongoing M&A transactions or speculations about presumed M&A deals cannot be followed in the daily press.It is proved that a huge number of M&A did not deliver on their promises. The majority of failed M&A are a result of mismanagement during the Post Merger Integration (PMI) when processes have to be adjusted, personnel need to be teamed up and corporate cultures have to be reconciled.This study deals predominantly with aspects of synergy management whereby the main focus is on synergy tracking as a support function of the synergy management. An emphasis is on the analysis of realization efforts that need to be done by the management during the PMI. To provide a solution and ease the aforementioned issues of synergy realization, a synergy tracking tool, which serves as an effective support instrument during the PMI is developed.

Author : Amy L. Pablo,Mansour Javidan
Publisher : John Wiley & Sons
Page : 288 pages
File Size : 49,8 Mb
Release : 2009-02-09
Category : Business & Economics
ISBN : 9781405142373

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Mergers and Acquisitions by Amy L. Pablo,Mansour Javidan Pdf

This book reviews both successful and unsuccessful mergers andacquisitions, exploring the reasons why so many fail to live up toexpectations. An exploration of why mergers and acquisitions succeed or fail,based on rigorous scholarly research. Stretches the boundaries of what we know about these complexphenomena. Presents original ideas about the merger and acquisitionstrategy, the effects of mergers and acquisitions on performance,and the critical processes involved in implementation andintegration. Explores new areas, such as the role of culture and leadership,and the importance of knowledge transfer and learning. Includes contributions from both highly respected scholars andup-and-coming stars in the field.

Author : Anonim
Publisher : GRIN Verlag
Page : 141 pages
File Size : 55,7 Mb
Release : 2024-06-02
Category : Electronic
ISBN : 9783656182436

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International Synergy Management by Anonim Pdf

Author : Bernard C. Reimann
Publisher : Unknown
Page : 272 pages
File Size : 44,9 Mb
Release : 1987
Category : Business enterprises
ISBN : IND:39000009168217

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Managing for Value by Bernard C. Reimann Pdf

Describes a process of strategic management which combines financial evaluation methods with strategic management techniques like portfolio planning and competitive strategy analysis.

Author : Kirsten Meynerts-Stiller,Christoph Rohloff
Publisher : Emerald Group Publishing
Page : 199 pages
File Size : 44,8 Mb
Release : 2019-10-08
Category : Business & Economics
ISBN : 9781838674533

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Post-Merger Management by Kirsten Meynerts-Stiller,Christoph Rohloff Pdf

This book pools the current know-how, and closes important knowledge gaps, to offer hands-on advice and practical answers to the many 'how to' questions relating to merger implementation. It provides a crucially important understanding of how to assess the chances of realising synergy potential and evaluate integration risks.

Author : Thomas Straub
Publisher : Springer Science & Business Media
Page : 238 pages
File Size : 42,5 Mb
Release : 2007-10-16
Category : Business & Economics
ISBN : 9783835096370

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Reasons for Frequent Failure in Mergers and Acquisitions by Thomas Straub Pdf

Using four statistical methods, Thomas Straub shows that M&A performance is a multi-dimensional function of: strategic logic, organizational behavior, and financial aspects.

Author : Sydney Finkelstein,Cary L. Cooper
Publisher : Emerald Group Publishing
Page : 200 pages
File Size : 40,5 Mb
Release : 2013-07-24
Category : Business & Economics
ISBN : 9781781908372

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Advances in Mergers and Acquisitions by Sydney Finkelstein,Cary L. Cooper Pdf

This volume brings together the best research in acquisition strategy by leading scholars in the field of mergers and acquisitions. Important new findings in this volume detail how cultural considerations and differences help to predict the success or failure of an acquisition strategy.