By Sue Cartwright and Cary L. Cooper (Auth.)
Mergers and acquisitions stay a characteristic of the modern enterprise scene but not less than part turn out unsuccessful. The authors determine the contribution that psychology could make to our realizing of the merger phenomena either when it comes to its impression on organizational functionality and its effect at the managers and staff concerned. specific concentration is put on the difficulty of cultural compatibility because it issues accomplice choice, integration, practices and enterprise results. The e-book is meant as a consultant to profitable organizational marriage. each one degree within the merger approach is tested - from the preliminary objective identity and decision-making degree, the merger declaration and predicting worker reaction via to gentle submit merger integration
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Additional resources for Mergers and Acquisitions. The Human Factor
1987), Ά Catchall parachute: Herman Miller has a silver shark repellant', Industry Week, 3 February, pp. 16-17. Pritchett, P. (1985), After the Merger: Managing the Shock Waves, New York: Dow Jones Irwin. Schweiger, D. , Ivancevich, J. M. and Power, F. R. (1987), 'Executive actions for managing human resources before and after acquisition', Academy of Management Executive, 1987, Vol. 2, pp. 127-138. Searby, F. (1969), 'Control of post merger change', Harvard Business Review, September-October.
Previous psychological research in the area of 'loss' more generally has repeatedly demonstrated that it produces a conservative and nostalgic impulse in people to hold on to what they have and value. Freud considers that 'collective grief powerfully maintains a sense of community, and so increases cohesiveness, which arguably makes new cultures and mangerial practices even more difficult to introduce. A recent study of the Getty-Texaco combination reports strong evidence of increased cohesiveness post merger, facilitated by what was described as 'collective remembering'.
And it had to be done. Not surprisingly, such actions are frequently seen as insensitive and indiscriminate, and have reverberations throughout the organization, as the currency of organizational loyalty and commitment becomes automatically devalued. Consequently the most common merger concern is fear of redundancy. Apart from early retirements, redundancies and circumstances amounting to constructive dismissal, mergers and acqui sitions are associated with high levels of voluntary resignations - what has been referred to as 'the post acquisition drift factor' or 'the haemorrhage effect'.