Philippe Haspeslagh and David Jemison (90) developed concept to define which approach would be most appropriate when integrating various parts of an organization after an acquisition. There are a number of traditional criteria that drive the integration approach: size of the respective businesses, style of the acquirer, overlap in terms of products and customers, etc. But the authors suggest to take into account two additional criteria:
The need for organizational autonomy should be viewed in the context of creating value through the merger. It is driven to a large extent by the question of whether the merger rationale is based on acquiring a specific set of capabilities. A certain degree of autonomy may be necessary to preserve and develop these strategic capabilities.
The axis of strategic interdependence is fairly self-explanatory. It tends to be high if the businesses operate in similar markets, significant cost synergies are expected, and value is created by transferring a significant amount of functional or general management skills.
As a result, the authors see four broad approaches to merger integration:
Preservation: Keep the sources of the acquired benefits intact, nurture the acquired business.
Symbiosis: Take a gradual approach, pick the best of both worlds, pay careful attention to cultural integration issues.
Holding: No integration, run the business fairly separately, focus on financial benefits, risk sharing, general management capabilities.
Absorption: Push for a quick and full integration, take courageous actions.
The need for organizational autonomy should be viewed in the context of creating value through the merger. It is driven to a large extent by the question of whether the merger rationale is based on acquiring a specific set of capabilities. A certain degree of autonomy may be necessary to preserve and develop these strategic capabilities.
The axis of strategic interdependence is fairly self-explanatory. It tends to be high if the businesses operate in similar markets, significant cost synergies are expected, and value is created by transferring a significant amount of functional or general management skills.
As a result, the authors see four broad approaches to merger integration:
Preservation: Keep the sources of the acquired benefits intact, nurture the acquired business.
Symbiosis: Take a gradual approach, pick the best of both worlds, pay careful attention to cultural integration issues.
Holding: No integration, run the business fairly separately, focus on financial benefits, risk sharing, general management capabilities.
Absorption: Push for a quick and full integration, take courageous actions.
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