A fundamental rule in M&A is to make sure that you don’t devalue value, so you have to take the time to develop your processes and plan carefully for the eventuality that something goes wrong. I’ve noticed that the most prevalent issues are people-related – how they react to change and how they react to it and what they do if things don’t go according to plan.
One of the most important services we offer our clients is to help them set up a process that allows them to spot potential issues early and then respond quickly. It could be that, for instance, holding a weekly meeting where the IMO and functional work streams examine the progress made against the plan and raise issues and risks to SteerCo.
Once the method of solving issues has been established, it’s important to concentrate on implementing. This means that the team knows what it’s expected to accomplish, how that will be measured, and by when. It also includes clearly defining accountability (i.e. ownership of the final outcomes) and the decision-making authority for the entire integrated business.
It is vital that the CEO and other senior managers are able spend at minimum 90 percent of their time focused on the most important issues and not be distracted by integration tasks. A good way to do this is to designate an experienced leader to oversee the Decision Management Office (IMO) that can make decisions and oversee the work flow. This person could be from the acquiring company or be a rising star in the newly formed organization with the backing of their boss.
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