Reading Tip: Today, M&A is increasingly becoming the focus of the economic field. Through the analysis and research of M&A failure cases, it is found that the main reason for M&A failure lies in the failure of M&A integration. This paper will focus on the background, role orientation, job requirements and basic qualities of the integration manager. .....
Nowadays, M&A has increasingly become the focus of the economic field. Through the analysis and research of M&A failure cases, it is found that the main reason for M&A failure lies in the failure of M&A integration. At present, a brand-new M&A integration position-integration manager has appeared in the practice of M&A in Europe and America. At present, the position of "integration manager" has been widely used in large enterprises in Europe and America, such as General Electric. Practice has proved that the integration manager is playing an unparalleled advantage and role in the systematic project of mergers and acquisitions full of complex and uncertain factors.
This paper will elaborate and analyze the background, role orientation, job requirements and basic qualities of the integration manager, and try to outline the positioning and role of this new position in merger and acquisition integration.
First, the background of the integration manager
1, the realistic background of the emergence of "integrated manager" Since the 1990s, due to the global industrial upgrading and economic globalization, mergers and acquisitions (merger &; The number and scale of acquisitions have been rising. According to statistics, the global M&A in 1999 reached US$ 3.3 trillion, an increase of 32% over 1998 and 2.6 times over 1996. Although the transaction speed has slowed down in the past two years, the annual M&A transaction volume still exceeds $65,438+0 trillion. Unexpectedly, some data show that more than 50% M&A enterprises have not reached the expected M&A goals. This makes M&A fall into an embarrassing situation of high growth rate and high failure rate. At the same time, according to Bain Management Consulting Company (Bain &; According to the company's investigation results of M&A failure, 20% of the cases of M&A failure occurred before the M&A Peace Treaty was formally signed, which was due to the failure of M&A negotiations due to insufficient preparation. 80% occurred in the integration period of 1~3 years after the signing of the peace treaty, because the integration work was not effectively carried out. There may be many reasons for the failure of these integration, such as the departure of key figures, the loss of technical strength or customer resources, the conflict of corporate culture, and the low efficiency during the integration period. Many similar studies and surveys have similar results. Therefore, people pay more attention to mergers and acquisitions. The "integration manager" came into being under this background.
2. The theoretical basis of "integrated manager" comes from project management. Project management was originally a management mode applied to large-scale military projects in the late World War II. Since the 1950s, it has been used for reference by enterprises and has been applied to the management of industrial and commercial enterprises. Generally speaking, project management refers to a one-time task that is completed according to specific specifications, within the budget and under certain time control.