The growing numbers of international mergers call for creative and innovative managers. They can overcome cultural differences with their foreign trading colleagues to prevent the devaluing deals of frictions. Mergers and Acquisitions (M&A) are ownership transactions of the company through consolidation of the company operating units and its allocation with the other entities by strategic management according to (Denison, Adris & Goodroz, 2011,pp.2). Legal terms define merger as consolidation of two entities into one while Acquisitions occur when one body takes ownership of another entity’s assets, interests, and stock. However, this paper examines how firms can overcome the difference in cross border-merger or Acquisition.
Varieties of the business-related issue are affected by the cultural clashes arising between managers of different countries, according to research observed from a plethora of pieces of evidence (Palmquist, 2015). The business firms affected by such include; equity outlay, the flow of venture capital, level of foreign direct investment, and stock market volatility in (M&A). However, it is equally essential in cross-border mergers to determine whether the divergent cultural backgrounds impact the global business. Nevertheless, there is a lack of detailed research conducted on how cultural differences affect the cross-borders outcome in international mergers and acquisition deals. However, logical thoughts develop when the misunderstanding of the merged managers makes it hard for value extraction from the agreement. Consequently, innovations in M&A always stimulate greater cultural diversity amongst the employees leading to the significant challenges of the status (Communicaid, 2020). Besides, companies’ synergy returns include reduced costs, increased revenues, and streamlined operations depend on employees working closely together in the post-merger.
Many organizations fail to achieve the expected outcome due to their failure to effectively harness cultural opportunities and practical managerial of cultural risks, thus resulting in the cross-cultural differences. The findings suggest that about 50% to 70% of the mergers and Acquisition fails to achieve their expectations. Deals are underperformed, and the primary reasons for their failure are due to the culture clash amongst the managerial teams. Nevertheless, clear strategic plans, thoughtful preparation, and commitments are some of the critical strategic plans which can help mergers and acquisitions to achieve their expected outcomes.
The organizations are advised to think of culture before signing deals. Both mergers and acquisitions should be discouraged on the signing of the culture after the transactions. The culture should first be placed on the table before the due diligence to improve the growth chances of the mergers and acquisitions. Consequently, for mergers and acquisitions to overcome the cross border cultural differences, the firms must remain clear on the value that they are projecting to achieve. Many mergers and Acquisition fails to communicate the business case and effectively articulate them, thus underpinning the decision to the merger or acquire(Brasens, 2017). Knowing reasons to merge or buy is vital as it drives what should be done and how people are expected to behave to gain that given goal and objectives.
Nevertheless, the definition of the cultural state end is another vital issue in overcoming the cultural difference. The merger and acquisition strategies begin with the business design and integration strategy development. There are four main choices in M&A which help the business in terms of the desired future culture for the resulting entities(Chandani & Kansal, n.d). The mergers and acquisitions should develop new culture before they become operational; the choice should be made in advance before the mergers take place such that an effective culture plan designed to help in driving the entities. The culture of the acquirer should be selected, and the culture of the acquired entity. They are both blended to come up with the best and expected results at the end of the outcome.
Cultural assessment and diligence, the cross-cultural borders differences can only be solved when the M&A partner and the acquirer dedicate their time for diligence stage access and bandwidth. The assessment of the cultural conduct of the potential partners takes the stage of the public information reviews, data room content, and interpretation of data through the management’s presentations and the related interactions. Through the assessment, the jeopardized deals are well taken care of as the identified gaps highlight the risks that implement the planning decisions, thus helps in overcoming the cross-cultural borders(Brasens, 2017). Failure to focus on the employee’s emotion is another major problem that causes the cross border cultural difference in M&A. Employers become less committed to the organization when their emotions are not addressed, resulting in the firm’s underperformance. Hence the employee’s emotional journey is equally important during the formation of M&A
Lastly, paying attention to the decision made by the entities in M&A proves vital since all decisions made during the M&A process will have an impact on staff and both organizations before the deal is complete. It also affects the future combined organization. Earlier decisions involve compositions of the new leadership management, chief executives, head office locations, and leadership team, the decisions which affect the people’s feelings and their mindset. When all the discussed solutions are practically implemented by the business organizations when coming up with the M&A deals, then overcoming the cross borders in cultural differences during the formation of mergers and acquisitions becomes possible, smooth, and practical
References
Communicaid. (2020). Retrieved from 5 TIPS TO OVERCOME CROSS-BORDER M&A FAILURE: https://www.communicaid.com/cross-cultural-training/blog/intercultural-challenges-managing-international-mergers-acquisitions/
Brasens, J. (2017). Leader on economics.com. Retrieved from M&A: How To Avoid Culture Clash: https://leaderonomics.com/business/how-to-avoid-culture-clash
Chandani, S. K. (n.d.). Imaa. Retrieved from Effective Management Of Change During Merger And Acquisition: https://imaa-institute.org/effective-management-change-merger-acquisition/
Daniel R. Denison, B. A. (2011). Managing Cultural Integration In Cross-Border Mergers And Acquisitions. Understanding Cross-Border Mergers And Acquisitions, 1-12.
Palmquist, M. (2015). Strategic Business. Retrieved from Merging Across Borders: https://www.strategy-business.com/blog/Merging-across-Borders?gko=ee1a5
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