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Mergers & Acquisitions Integration Handbook: Helping Companies Realize The Full Value of Acquisitions, + Website


Praise for Mergers & Acquisitions Integration Handbook

"This book is a valuable guide from someone who has experienced the real-world challenges of mergers and acquisition integrations. Unlike many technical manuals or standard consulting advice, Scott's handbook is the comprehensive 'owner's manual' for any executive charged with getting real value out of an acquisition. It has the basic instructions for executives facing their first integration to more advanced techniques and tips for seasoned executives, and will be valuable to any executive charged with integrating an acquired asset."
—John Hogan, Chairman and CEO, Clear Channel Media and Entertainment

"This book is a 'must have' for any organization implementing an M&A strategy to grow top line revenues, create scale for improved margins, or both. Scott has created a blueprint that ensures newly acquired assets can be seamlessly integrated into existing businesses, and he has done so in a very practical way. While the content of this book centers on M&A integration, the results of leveraging its insights will surely be categorized as 'organizational leadership' by your shareholders."
—Doug Matheson, Vice President, Strategic Marketing, Ericsson, Inc.

"An extensive primer for anyone charged with the intricate task of integrating newly merged corporate entities. A well-structured approach that aptly breaks down the complexities of the integration process in an easy to digest, step-by-step fashion. This handbook takes you from concept to implementation ready."
—Craig J. Tindall, Senior Vice President, Operations and Facilities, Grady Health System

"Without question, a remarkably complete reference guide to merger and acquisitions integration for both newcomers and professional managers. Written by a merger and acquisition practitioner, this handbook walks us through the entire process in the same way an airline pilot goes through the preflight checklist before takeoff. The bottom line is that you have to check all of the boxes to maximize enterprise value."
—David H. Stone, Managing Partner and Principal, New England Consulting Group

"The M&A Integration Handbook is a valuable tool for any individual or team tasked with bringing two entities together. A great equation for performance is 'Performance = Potential - Interference.' This handbook is an excellent tool for minimizing interference and optimizing performance, keeping the focus on task."
—Bob Hellyer, former CEO & president

"The M&A Integration Handbook is an essential resource for those tasked with managing the integration of an organization following a merger or acquisition. Through Scott Whitaker's extensive M&A experience, he provides an in-depth road map to help insure a successful integration and provide a leg up on achieving the vision and goals of the transaction. It's a must-read that provides a comprehensive framework that will prepare you for the task, enhance the process, and insure a better result."
—Bob Owen, President, Broadwell Associates, Marketing & Communication Consulting

SCOTT C. WHITAKER, CMC, is President and CEO of Whitaker & Company, an Atlanta-based consulting and project management firm specializing in helping companies to develop, execute, and implement merger integrations and business strategies designed to achieve growth. Since 2005, Whitaker & Company has been involved in merger integration and strategy and operations projects totaling more than $25 billion for both domestic and international companies.

Acknowledgments xi

CHAPTER 1 Introduction 1 Who Should Use This Book? 1

How This Book Is Set Up 2

Chapter Summaries 2

AWord to theWise 4

CHAPTER 2 Mergers and Acquisitions 101 and Assessing Integration Complexity and Risk 7

Mergers and Acquisitions 101 7

Determining Post-Acquisition Integration Scope 8

Assessing Integration Complexity and Risk 11

Summary 18

CHAPTER 3 Making the Business Case for Integration 19

How to Improve Performance 19

The Most Complex Areas 21

Making the Business Case for Integration Support 23

The Challenges of Integration 24

Integration Success Factors 29

Summary 30

CHAPTER 4 An Introduction to Integration Planning 31

Integration Activities 32

Integration Timing 32

Integration and Business Planning 33

Integration Support 35

Summary 37

CHAPTER 5 The Pre-Planning Phase 39

Key Activities 39

Reviewing the Planning Documents 40

Assessing Potential Challenge Areas 42

Summary 45

CHAPTER 6 The Importance of Due Diligence 47

Due Diligence Documents Lists 48

A Few Words about IT Due Diligence 59

Summary 60

CHAPTER 7 Establishing an Integration Management Office 61

Setting Up an IMO 63

Determining Functional Resource Commitments 66

Dedicated versus Matrixed Resources 68

Setting Up an Integration Project Charter 69

Setting Up an Integration Governance Structure 72

Summary 73

CHAPTER 8 Executing Your Integration Plan 75

Functional Work-Plan Elements 76

Integration Work Streams 77

Functional Work-Plan Quality 79

Functions Requiring Extra Attention 82

Summary 85

CHAPTER 9 Planning Your Integration’s End State 87

How to Know When an Integration Is Finished 88

The Typical Process: Roles, Responsibilities, Tracking, and Finishing Well 88

Summary 93

CHAPTER 10 Effective Communication Planning 95

Communication Planning Objectives 95

Guiding Principles for an Effective Communication Plan 96

Establishing a Communication Matrix 97

A Proper Communication Process 101

Summary 105

CHAPTER 11 Cultural Integration and Assessment 107

Managing Cultural Integration Activities 107

Culture and Change Management 112

Summary 114

CHAPTER 12 The Talent Assessment Process 115

Talent Assessment Guiding Principles 115

Talent Assessment Objectives 116

Evaluation Tools for Assessing Talent 117

Retention and Separation Guidelines and Policies 118

Dependencies for Talent Assessment and Retention and Separation Activities 123

Things to Avoid 125

Summary 126

CHAPTER 13 Synergy Program Management 127

Effectively Managing Synergies 128

The IMO’s Role in Managing a Synergy Program 129

A Typical Synergy Plan 130

Best Practices 137

Summary 138

CHAPTER 14 Information Technology Integration 139

IT’s Role within an Integration 140

Day One Planning 144

The Three Risks 146

Summary 147

CHAPTER 15 Integration Feedback: Lessons Learned 149

Goals and Tools of Lessons Learned 149

Getting Feedback and Making Adjustments 150

Collecting Post-Integration Feedback 151

Additional Tips 153

Summary 156

CHAPTER 16 Creating an Integration Playbook 157

Playbook Contents 157

Playbook Elements 159

How the Elements Work Together 161

Applying the Playbook 162

Summary 162

About the Author 163

About the Website 165

Index 167