Joining Forces

Synopsis

If 75 percent of all mergers fail, what makes the other 25 percent succeed?

Mergers, acquisitions, and alliances are more vital today than ever before in driving business success. This indispensible guide offers proven strategies and sound solutions to the multitude of integration issues that inevitably arise, and shows how to create a combined business that meets its strategic and financial objectives, competes better, and offers personal and organizational enhancements. Dubbed "merger mavens" by Fortune magazine, the authors report lessons learned from their experience in over 100 combinations. Executives, managers, and employees alike—in all industries and sectors—will find useful examples, strategies, and tools here.

Praise for Joining Forces

"This book will help both M&A veterans and those new to the game. The authorsprovide great insights into the human, cultural, organizational, and strategic factors that matter in M&A success."—Richard Kovacevich, chairman and CEO emeritus, Wells Fargo & Co.

"Don't commit to the merger or acquisition without them! I have personally witnessed how hard it is on everyone—employees, shareholders, communities, and especially executives—to work through an improperly managed merger. I have known Marks and Mirvis for almost twenty-five years and the only mistake our organization made was that we did not consult them soon enough. Their new book reflects unequalled experience and intellect. Don't merge, acquire, or be acquired without it!"—Michael R. Losey, CEO (emeritus), Society for Human Resources Management (SHRM)

"Joining Forces is a terrific resource for managers who want to understand thehuman dynamics of mergers and acquisitions, and a must-read for those who have to lead their companies through one. It is based on the latest research and providespractical insights and advice from authors who know M&A inside out." —Edward E. Lawler III, Distinguished Professor of Business, Marshall School ofBusiness, University of Southern California

Summary

Chapter 1: The Power of Collaboration

* Summary: Introduction to the concept of collaboration and its benefits for organizations, including increased innovation, efficiency, and customer satisfaction.
* Real Example: Starbucks and Spotify partnering to offer music streaming in coffee shops, increasing customer engagement and brand loyalty.

Chapter 2: Overcoming Barriers to Collaboration

* Summary: Discussion of common obstacles to collaboration, such as lack of trust, different perspectives, and conflicting goals.
* Real Example: A pharmaceutical company and a biotech startup overcoming communication and cultural differences to develop a groundbreaking new treatment.

Chapter 3: Establishing a Collaborative Culture

* Summary: Guidelines for creating an organizational culture that fosters collaboration, including open communication, respect for diversity, and recognition of contributions.
* Real Example: Google's "20% time" policy, which allows employees to spend one day a week working on their own projects, encouraging innovation and collaboration.

Chapter 4: Building Collaborative Teams

* Summary: Strategies for selecting, structuring, and managing collaborative teams to maximize their effectiveness.
* Real Example: A cross-functional team at a manufacturing company combining expertise from engineering, sales, and marketing to develop a new product that meets customer needs.

Chapter 5: Communication for Collaboration

* Summary: The importance of effective communication in collaboration, including active listening, clear expectations, and regular check-ins.
* Real Example: A research team using video conferencing and online collaboration tools to facilitate communication and knowledge sharing among geographically dispersed members.

Chapter 6: Managing Conflict and Resistance

* Summary: Techniques for addressing conflicts that may arise during collaboration and overcoming resistance to new ideas.
* Real Example: A project team using a conflict resolution process to facilitate open discussions and find mutually acceptable solutions.

Chapter 7: Recognizing and Rewarding Collaboration

* Summary: The need to recognize and reward successful collaboration to incentivize its continuation.
* Real Example: A technology company offering bonuses and promotions to teams that demonstrate exceptional collaborative performance.

Chapter 8: Measuring the Impact of Collaboration

* Summary: Methods for evaluating the outcomes and impact of collaboration, including return on investment, customer satisfaction, and employee engagement.
* Real Example: A healthcare organization using surveys and data analysis to demonstrate the improved patient outcomes and reduced costs achieved through collaborative care.

Conclusion

* Summary: Reiteration of the benefits of collaboration and the importance of fostering a collaborative environment in organizations.
* Call to Action: Encouragement for readers to embrace collaboration and apply the principles outlined in the book to improve their own organizations' performance.