More than 30 years of experience with mergers and acquisitions has taught us some important lessons. Here are Ten Value-Accelerating Questions you should ask yourself before beginning the delicate process of combining companies.
- How will you organize the transition process so that it's fast and focused?
- How can you engage both sides so that you benefit from your combined knowledge and experience without getting mired down in politics and tradeoffs?
- Do you have a methodology and tools for launching transition teams, measuring progress, and holding people accountable for hitting targeted objectives?
- How will you communicate during the transition period in order to present a consistent set of core messages both internally and externally?
- How will you prepare your managers to handle questions when they don't have answers or to make decisions when there isn't enough data?
- How will you keep your people focused and productive?
- How will you retain key talent through this period of uncertainty?
- What will you do to minimize culture clash and make sure your combined culture equips you to meet marketplace demands?
- How will you address resistance to change?
- How will you re-energize your workforce during and after the demanding transition period?