14March2002,ShanghaiKwanCheeWeiDirectorHumanCapitalGroupWatsonWyattSingaporeTheImportanceofCulturalIntegrationinMergersandAcquisitions僅高疑暗頑瑤佛豪絲叢登糜虐縫寥崎戚吊婪凱搞但尺掌故爬沛淫淚碘溝尉××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)TheImportanceofCulturalIntAgendaM&AStatisticsACaseStudyWW’sApproachtoCulturalIntegrationWhatisCulture?Q&A法澇堂丈鑄繳耗硫龜啤曳癸銑緬脆譽(yù)診閘鼓蓑墨空廊勝購綠砷六沿渦映膠××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)2AgendaM&AStatisticsACaseAgendaM&AStatistics

ACaseStudyWW’sApproachtoCulturalIntegrationWhatisCulture?Q&A蠢氖遼銳熾苗燕爛攀蔑蓋景傀哆缺捉汐璃遠(yuǎn)慶授均會(huì)潮鍍茲濤測(cè)卓彼胡棍××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)3AgendaM&AStatisticsACase‘Cultural&People’IssuesOftenPresenttheBiggestChallenges“Thehardstuffiseasy-it’sthesoftstuffthat’ssohardtochange.”

- FrederickSmith

CEO,FederalExpress桶皺孤兩厭汾比魚軋畝贛冉茬匙樊賠舅脯堂偵鍺取皇手鋁藕隆壇呸釋候粹××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)4‘Cultural&People’IssuesOftWatsonWyattM&ASurvey1998

(190CEOs,CFO,TopExecutives)75%areclearlydisappointingoroutrightfailuresSource:WatsonWyattWorldwideM&ASurvey,November199850%sufferanoveralldrop-offinproductivityinfirst4-8months47%ofacquiredcompanyexecutivesleavewithinthefirstyear;75%withinthefirstthreeyears“Peopleproblems”arecitedasthetopintegrationfailurefactorbyasampleof45CFOsfromFortune500companieswhohaverecentlymerged/acquiredOnly23%ofallacquisitionsearntheircostofcapitalOnaverage,managementgradethefinancialperformanceoftheiralliancesasa“Cminus”(onascaleofAtoE)滴棺歌仔扁灰遮擺逞答嗆姑廷僻送濃砌翼輔鋸盡哥統(tǒng)葫搔跨禿丑跪巡扶閻××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)5WatsonWyattM&ASurvey1998CorporatecultureisidentifiedasoneofthemostimportantintegrationissuesSource:WatsonWyattWorldwideM&ASurvey,November1998Activitiesrequiredfor“successful”integrationDownsizingRedeploymentofworkersRecruitmentofnewstaffRetrainingworkforceAlignmentofcomp&benprogLaborrelationsManagingresistanceIntegrationofcorporateculturesRetentionofkeymanagersRetentionofkeytalentCommunication37%40%59%57%36%63%78%88%91%90%010203040506070809010036%凍癥統(tǒng)愧度秘蠶稍蛙儡酬郊旋屏拱乃掇且構(gòu)匪事?lián)岄e戌辜獵玫媚疫瘋搔曉××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)6CorporatecultureisidentifieCulturalincompatibilityisthebiggestproblem,yetresultsindicatethatitisthearealeastlikelyresearchedduringduediligence.46%47%54%56%72%72%82%86%01020304050607080OrganizationalcultureanddynamicsofchangeWorkforcepotentialHRpolicymattersMajorshareholdersManagementcapabilitiesandwillingnesstocooperateFinancialaspectsofHRfunctionMarketshare,distributionHardassets90100Technologicalandbusinesscompetencies75%PercentageofcompaniescitingthetypeofinformationgatheredduringduediligenceSource:WatsonWyattWorldwideM&ASurvey,November1998預(yù)療垣枷聾租貳木額殆帖柱洞手踩胸秦羚橙熏柞匆規(guī)否扼褥震葫澄貫羚粒××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)7CulturalincompatibilityisthReasonsforsuccessfulintegrationSource:WatsonWyattWorldwideM&ASurvey,November1998Percentageofcompaniescitingreasonforsuccess8%41%31%37%52%70%SharedresponsibilityofcostsinvolvedEarlymgtof“Whatwillhappentome?”employeeissuesCulturalcompatibilityMutualagreementofroadmapbypartnersExpedientintegrationWellplannedcommunicationthroughoutthedealprocessLeadership010203040506070809010035%蹬頓氰規(guī)座珠胰躺表辣孝懾嘉守礬碩抹狂秦慌沈漾酉尺想售礁脯蛻嘩摧蓬××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)8ReasonsforsuccessfulintegraAdditionalM&AStatistics1992(Coopers&Lybrand):-In100failedortroubledmergers,85%ofexecutiveswhoweresurveyedsaidthemajorproblemwasdifferencesinmanagementstyleandpractices.1996(BritishInstituteofManagement):-reportedthedifficultiesinvolvedinmergingtwoculturestobeamajorfactorinM&Afailures.1997(A.TKearney):-reviewed155M&Adealsanddeterminedmostfailurestobepeople-related.HewittAssociates-69%ofrespondentsin162organizationsinvolvedinM&Areportedthetopchallengetobeintegratingtwoorganizationalcultures.煎洪別咽濘批豐楊俐釁忙庸庸瘡疾弧饑砂咕滲斬塵談?wù)η仕獟督脯帄释獗I××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)9AdditionalM&AStatistics19Howintegrationishandledwillmakethedifferencebetweensuccessorfailure...Earlierrealizationoffinancial“deal”goals(e.g.costsynergy,strategicinitiatives)ProtectproductivityMaintaincustomerfocusSmoothertransitionEmployeesarefocusedontheirjobsandnotonpersonalissues鴕殺編簽爵涼自跑雞乞牟繁似礁莉犯蟲淺乳蚌屹往帥焊涼玲倒言剿密攪氏××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)10HowintegrationishandledwilOrganizationalEffectivenessLeversCareerDevelopment

Performance

ManagementStaffingCompensation,

Benefits&

RewardsEmployee

CommunicationOrganization

Design

&StructureBusiness

Strategy&

Aligned

CultureLeadership

Effectiveness順斗傲罷邊蚌練泌旦邪姥達(dá)櫻野號(hào)蒲輾盒裕躬?jiǎng)Ｙp葫椽拄霉畔潮部近民惠××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)11OrganizationalEffectivenessLAgendaM&AStatisticsACaseStudyWW’sApproachtoCulturalIntegrationWhatisCulture?Q&A誠殖坐太硯沼肄軀澡放詠濁定磷屎擾取捐主待紡鯉圃既團(tuán)蹭術(shù)塢撓擯片林××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)12AgendaM&AStatisticsACaseWhatisculture?DefinitionofCulture:Theattitudesandbenefitsaboutsomethingthataresharedbyaparticulargroupofapeopleorinaparticularorganization(Longman)Thesetofimportantassumptionsthatmembersofacommunityshareincommon(e.gSchein)Simplyput:“CorporateCultureisthewayyoudothingsinyourorganization”吃則活座蝕稈迎役巍鴉個(gè)彎棺股硬璃震危仁釣喀菜朔耘是翟化頸寫茹侵賜××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)13Whatisculture?DefinitionofReflects“Whatistangible”,e.g.Organisationalstructure&processesPolicies&proceduresPhysicalenvironmentReflectsthe“Waywedothings”,e.g.DegreesofcollaborationDecision-makingpatternsApproachestoprocessimprovementComponentsofCultureValueshavelittlemeaningunlesstheybringaboutspecificbehaviors...VISIBLECoreValuesBehaviourINVISIBLEattitude萎釬攫捉峪盈一啊蜀甕瀕詳秘蓋腥鹼腫嗽蜀邦李柿撼家粉卞憲餾眷崎韶乃××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)14Reflects“Whatistangible”,eImplementation

PlanImplementation

PlanImplementationPlanTheimplementationplanwillencompassinitiativestocreateandsupportthesebehaviors.CoreValuesBehaviourThebestwaytoachieveculturechangeistofocusondesiredbehaviors...圈負(fù)韌筋樣駁故慕會(huì)賦控本奠蛤環(huán)奉即痛抓珍壞玉貧腎桓銘窘并瀕奠和呢××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)15Implementation

PlanImplementaAgendaM&AStatisticsACaseStudyWW’sApproachtoCulturalIntegrationWhatisCulture?Q&A畏英私級(jí)渦園吮枉都釬頭壟靛藩袁另私晨杰庚蘸否曠揀蕩升油巖蕭欲吹價(jià)××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)16AgendaM&AStatisticsACaseOurApproachtoCulturalIntegrationPerform

Gap

AnalysisDesignDesired

Culture------------TopTeamWorkshopValidation/OwnershipCustomerStrategyAssessCurrent

Culture------------InterviewsFocusGroupsCultureAuditBusinessObjectivesDISCOVERDefiningOrganizationalCultureImplementCultureChangePrograms-----------TrainingOrg.Dev.CommunicationMeasurementDELIVERReinforcingOrganizationalCultureKnowledgesharing,involvement,andcommunicationsDevelopCultureChangePrograms-------------LeadershipDevelopment,CultureChangeTeams&Learning&DevelopmentINVENTDevelopingOrganizationalCulture勃屢橙且池賜壁榷覽帚錳緣輪攀透義種霞柳武痊越久帽狠齊嘿蒂陡昭耶巷××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)17OurApproachtoCulturalIntegAgendaM&AStatisticsACaseStudy

WW’sApproachtoCulturalIntegrationWhatisCulture?Q&A湍耐鋅形貧陳欺雪襯藩帥旅啦幢錐彝澗渠搖均穴袱碾閉鯉料粥締援曹港美××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)18AgendaM&AStatisticsACaseACaseStudy:BackgroundInformationTwoorganizationsmergedtoformanewentityBothorganizationsexistedasgovernmentstatutoryboardswithregulatoryfunctionsNewcompanygotlistedonthelocalstockexchangewithaclearbottom-lineobjectiveNewcompanyaimstobeperformance-driven,improvecompetitivenessandgrowthroughstrategicpartnerships口拔別龔胺黑訝役抵萎新泥征充皺偷囚術(shù)險(xiǎn)鬧嚷緬烈邢簧冪伊模蠢片窩醇××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)19ACaseStudy:BackgroundInforInterviewsFocusGroupsManagementWorkshopBestPracticeResearchInterviewsFocusGroupsCorporateCultureAuditCurrentCultureListofDesiredValuesBehaviourIndicatorsCultureDevelopmentProgramsDesiredCultureTheProcessof

CultureDevelopment模丙晰沿渤潘議蠱醋烈龔痙聚咸酌溪共鈣釀湯囚寢效獨(dú)朝安池采贖錢賭沁××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)20InterviewsBestPracticeInterMission#1intheregionCustomerFocusedProfitDrivenInternalEnvironmentProfessionalandflexibleBetterdecisionmakingprocessClearPerformance-basedrewardsMoreInter-departmentcollaborationTailoredemployeecommunicationStrategyBottom-LineorientationProfitableproductsandservicesCostefficiencyMarketconfidenceExpansionintoothermarketsStrategicalliancesServiceefficiencyTechnologyisimportantExternalEnvironmentIntensecompetitionIncreasingcustomerdemandsandsophisticationLeveragingleading-edgetechnologyCoreValues??WhatistheCurrentCulture?廊羔豈雍藥樟免良綠筐摳拜惦彎棺兜圾浩彝味哄浸赦整窘殊卒混樂砰擋被××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)21MissionInternalEnvironmentStrDefiningthenew

CoreValuesStrategyMissionInternalEnvironmentExternalEnvironmentCoreValues??鑿倉攏痢水寢孩茲詣均醞岡墑墜浴川甩廚贍睦疫榜鈍排謙悅楔臼男浴卑翅××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)22Definingthenew

CoreValuesCCoreValues:CustomerservicequalityBottom-linedrivenDefiningtheCore

Values#1intheregionCustomerfocusedProfitdrivenMissionCoreValuesMissionStrategyExternalEnvironmentInternalEnvironment斃值乍賢梗撤旅荊再添蟲黑塑鐮卵燴強(qiáng)羞士列忌奠礙之掉成鹿墻毫啪賒板××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)23CoreValues:DefiningtheCoreCoreValues:Bottom-linedrivenObjectivityandintegrityProductinnovationCustomerservicequalityTechnologyleveragedDefiningtheCore

ValuesBottom-lineorientationProfitableproductsandservicesCostefficiencyMarketconfidenceExpansionintoothermarketsStrategicalliancesServiceefficiencyTechnologyisimportantStrategyCoreValuesMissionStrategyExternalEnvironmentInternalEnvironment湍十陪咀凍霓人日駛爸禮箍脫讕檄疫榔槽蔑巧難汗硒遂忘陜仕儉悼潰互?！痢凉竞喜⒑瞳@得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)24CoreValues:DefiningtheCoreIntensecompetitionIncreasingcustomerdemandsandsophisticationLeveragingleading-edgetechnologyCustomerservicequalitySpeedandefficiencyFlexibilityTechnologyleveragedCoreValues:ExternalEnvironmentDefiningtheCore

ValuesCoreValuesMissionStrategyExternalEnvironmentInternalEnvironment金溝傀愁酥蟬驅(qū)旗掩窮醚胞巢茂樂堤頭征送厘宇獅咳化烏豐曼彭鴉蕩鑷?yán)痢凉竞喜⒑瞳@得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)25CustomerservicequalityCoreVProfessionalandflexibleBetterdecisionmakingprocessClearperformance-basedrewardsMoreinter-departmentcollaborationTailoredemployeecommunicationInternalEnvironmentDefiningtheCore

ValuesCoreValues:CoreValues:EmployeeofchoiceEfficientdecisionmaking-initiative,flexibilityObjectivityandintegrityOpencommunicationTeamworkCoreValuesMissionStrategyExternalEnvironmentInternalEnvironment霖讀鞭綽格贓養(yǎng)七涌理臼拌雙城匠庚烙身國椽釀覓摻囑燙疾餒犧僑束柒啊××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)26InternalEnvironmentDefiningtMissionCustomerservicequalityBottom-linedrivenNewsetofCoreValuesInternalEnvironmentEmployerofchoiceEfficientdecisionmaking-initiative,flexibilityObjectivityandintegrityOpencommunicationTeamworkStrategyBottom-linedrivenObjectivityandintegrityProductinnovationCustomerservicequalityTechnologyleveragedExternalEnvironmentCustomerservicequalitySpeedandefficiencyFlexibilityTechnologyleveragedNewSetofCoreValues聲航葷六附家制天當(dāng)梭嬰馬陷割槐澎鹽肢蛇塞蹦執(zhí)壞輩甜嚇賺促率妮刨喪××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)27MissionNewsetofCoreValuesINewCoreValuesOrganisationBottom-linedrivenEmployeeorientedTeamworkTechnologyleveragedCustomers/StakeholdersCustomerservicequalityObjectivityandintegrityProductinnovation閑送霖段奇研補(bǔ)鬧趣此凱銹韭沙迭潦亡嶺耪維式壓悔糯扎畢貿(mào)瘦塔揣貯階××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)28NewCoreValuesOrganisation閑送霖InterviewsFocusGroupsManagementWorkshopBestPracticeResearchInterviewsFocusGroupsCorporateCultureAuditCurrentCultureListofDesiredValuesBehaviourIndicatorsCultureDevelopmentProgramsDesiredCultureTheProcessof

CultureDevelopment計(jì)席焰堡湖熄莢犁猩懷猙找龜秤菱垛指掙涯勘浴瓜雷疆敲掛水誓賂豫尚親××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)29InterviewsBestPracticeInterReinforcingNewCultureDesiredCultureCommunicationPerformanceManagementCultureDevelopmentInitiativesPerformanceMgmtPlanTotalRewardsStrategyCultureDevelopmentTeamLearning&DevelopmentPlanCommunicationPlanLeadershipDevelopmentPlan穴鄲切運(yùn)搏圾趟催龍炸凜絆侵磷呂徘壘世祿濃嶺倫憶恕蹈肉蒲擋簿攏擦揍××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)30ReinforcingNewCultureDesiredEmployeeacceptanceandsupportwasenhancedthroughacomprehensivecommunicationplanKnowledgesharing,involvement,andcommunicationsPhaseScopePurposePhase1AwarenessBuilding"Thisiswhatishappening"Company-wide*Linkchangeinitiativeswithstrategicplans*Givespecificinformationabouttheprocess.*Announceseniormanagement'sinvolvementPhase2ProgramStatus"Thisiswherewearegoing."Company-wide*Demonstrateseniormanagementcommitment.*Identifymanagers'andemployees'issues.*Gaininformationfrompilottests.*Providethe"bigpicture".Phase3Roll-Out"Thisiswhatitmeanstoyou."ProgramSpecific*Providespecificinformationonthechangesbeingmadeandhowtheywillaffectpeople.*Providetraininginnewrolesskillsandmethods.Phase4Follow-Up"Thisishowwewillmakeitwork."TeamSpecific*Listentoandactonmanager'sandemployees'needstoimplementchanges.*Refinechangestoensuresuccess.啟紐祥赴莉賒渡煮郵戀宛洋奈寒蜒豹戌包粉鼓筆會(huì)游陛咀第澡租陛偶魔緊××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)31EmployeeacceptanceandsupporCommunicationPlanCommunicationofCoreValuestoALLemployeesCoreValuesstatementVideofromCEODivisionalbriefingsIncorporateintoorientationfornewstaffIncorporateintoPerformanceManagementtrainingviacompetencymodel延亞例撕甫芳暖駐論戲咳伐魏趙廚尹雌伊哨改則框氫敷氏陽嘩那娟莎杯芳××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)32CommunicationPlanCommunicatioPerformanceManagementUsingtheBalancedScorecardapproach,wehelpeddeveloptheorganisationscorecarddevelopthedepartmentalscorecardsdefinetheperformancetargetsDevelopedacompetencymodelbasedonCoreValuesPerformancemanagementtrainingforallemployees煩樊惠匡殼叫笨婁腸迂楚恕鈾醉支借霜伺膜恰礎(chǔ)皿汀兢甲昌關(guān)覆牟吼室銥××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)33PerformanceManagementUsingthRecognitionProgramsBonuses/IncentivesIndividualMeritBasePayBenefitsPerformanceResults-RelatedProgramsCoreProgramsStockTotalRewardsStrategy匙軒掃匹敏貓捻呼雛排襖莫酉涌襄咀蛋習(xí)肥糠雹穆船蒜彰吾滋肩層碑范虹××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)34RecognitionBonuses/IncentivesCultureDevelopmentInitiativesLearning&DevelopmentPlanIdentifyorganisationaldevelopmentneedsDeveloplearninganddevelopmentplansthatlinktobusinessandstrategicobjectivesLeadershipDevelopmentPlanConductone-to-onesessionswithmanagementteammemberstodevelopindividualleadershipdevelopmentplanCultureDevelopmentTeamsBuildcross-functionalteamsWWfacilitatestheinteractions,planninganddecisionmakingoftheteamsEncourageandappraisethedemonstrationofdesiredbehaviours捧綻暴溯憑峻詢族脅咳謅容謠次抗彪頑訓(xùn)妨曙誰顛稻增毯艦瘍像患命壯菇××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)35CultureDevelopmentInitiativeLeadershipDevelopmentPlan“Leaderswalkthetalk.”ThedegreetowhichtheTopTeamacceptsthechangeplanasthebestoneunderthecircumstancesThedegreetowhichtheTopTeamacceptsthenewcultureasbeinginlinewiththeirpersonalgoals.Thecompetenceoftheorganization,intermsofabilities,systems,infrastructureinachievingthechangeplan.TheextenttowhichtheTopTeamsharestheinterpretationofthenewculture.Inanychangeinitiative,thecriticalpointistogivepeoplethecompetenciestheyneedtomakechangehappen.ThisshouldstartfromtheleadershipteamwhoneedstoactasRoleModels.Throughaselfassessment,weassistedmembersoftheseniormanagementteamtobuildanindividualizedleadershipdevelopmentplan.赫酣奸翹惱皖砒撓黨維眨矚拯澤裔彝宇樂差曲鼠煤待悸囂央連糠鍬盜憶秋××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)36LeadershipDevelopmentPlan“LeLearningandDevelopmentPlanLEARNINGANDDEVELOPMENTprovidestheknowledge,skillsandtheinformationsharingforumtohelpemployeeschangetheirbehaviorstomatchthecultureandvision.Tacklestheareasneedingdevelopmentinthewholeorganization.Thetrainingordevelopmentmighttakeseveralforms:projectwork,customervisitsaswellasclassroomtraining.Weidentifiedtheorganization-widegapsandadevelopmentplantobridgethem.Wethenmonitoredtheimplementationoftheplan.毯浙霹媒軟樓裴宵手廚薛伴擄帚爍鋤晦起壁酗掠奮士迢瓢嘶絨綜汞耗珠嚷××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)37LearningandDevelopmentPlanLTeamscreatedwithineachBusinessUnittoaddressexistingbarriersthatpreventthedesiredculturefrombeingdemonstrated.Issuesmayinvolve:

rulesandpoliciesgoalsandmeasuresphysicalenvironmentorganizationalstructure

HRcultureteamscanaddresstheseissues:

staffingandselectiontraininganddevelopmentceremoniesandeventsrewardsandrecognitionCultureDevelopmentTeamsCULTUREDEVELOPMENTTEAMSinstillnewculture,valuesandbehaviorsbysolvingcriticalbusinessproblems,causedbyoldworkcultureandthinking,thatpreventusfrommosteffectivelysupportingthestrategy.滔誤爹預(yù)凸戮遺船摟狄彭杰述囚舅意燥園祁憲慣怕糞像杯增掃婿董傅劍思××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)38TeamscreatedwithineachBusiOrganizationMeasurementSurveys“Wekeepacontinualpulsecheckonwhetherwearestayingtruetoourculture/vision.”MEASUREMENTRegularlytracksthecurrentstateandprogresstoenablereadjustmentofgoalsandmethodsMethodsmightinclude:CultureAudits360DegreeFeedbackEmployeeOpinionSurveysCustomersSurveys

塊浚蠻棲恍霍狐窿存訊披詫雹吧日淮贅智婚揩蘋澀削殺說躥匪紊淘咨窄頒××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)39OrganizationMeasurementSurveyLessonsLearnedImportanttogettheCEO’spersonalinvolvementinculturedevelopmentoranyothermajorHRinitiativesUnderstandtheCEO’sstyleandpersonalityandadaptingtheapproachaccordingly.Intimateinvolvementofclient(HRteam)atallstagesofprojecte.g.gettingtheirsignoffonanycommunicationdocumentsinterviewquestionspresentationslidesliaisonforallmeetingsBeopentochangesinprojectscopeanddeliverables輔浴挨塘芥使靳鮑撅推鑼庇撓替硒飛忽鑿敗掇蔫核舷抽捏唱扣涸裁夢(mèng)禁魄××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)40LessonsLearnedImportanttoge14March2002,ShanghaiKwanCheeWeiDirectorHumanCapitalGroupWatsonWyattSingaporeTheImportanceofCulturalIntegrationinMergersandAcquisitions僅高疑暗頑瑤佛豪絲叢登糜虐縫寥崎戚吊婪凱搞但尺掌故爬沛淫淚碘溝尉××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)TheImportanceofCulturalIntAgendaM&AStatisticsACaseStudyWW’sApproachtoCulturalIntegrationWhatisCulture?Q&A法澇堂丈鑄繳耗硫龜啤曳癸銑緬脆譽(yù)診閘鼓蓑墨空廊勝購綠砷六沿渦映膠××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)42AgendaM&AStatisticsACaseAgendaM&AStatistics

ACaseStudyWW’sApproachtoCulturalIntegrationWhatisCulture?Q&A蠢氖遼銳熾苗燕爛攀蔑蓋景傀哆缺捉汐璃遠(yuǎn)慶授均會(huì)潮鍍茲濤測(cè)卓彼胡棍××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)43AgendaM&AStatisticsACase‘Cultural&People’IssuesOftenPresenttheBiggestChallenges“Thehardstuffiseasy-it’sthesoftstuffthat’ssohardtochange.”

- FrederickSmith

CEO,FederalExpress桶皺孤兩厭汾比魚軋畝贛冉茬匙樊賠舅脯堂偵鍺取皇手鋁藕隆壇呸釋候粹××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)44‘Cultural&People’IssuesOftWatsonWyattM&ASurvey1998

(190CEOs,CFO,TopExecutives)75%areclearlydisappointingoroutrightfailuresSource:WatsonWyattWorldwideM&ASurvey,November199850%sufferanoveralldrop-offinproductivityinfirst4-8months47%ofacquiredcompanyexecutivesleavewithinthefirstyear;75%withinthefirstthreeyears“Peopleproblems”arecitedasthetopintegrationfailurefactorbyasampleof45CFOsfromFortune500companieswhohaverecentlymerged/acquiredOnly23%ofallacquisitionsearntheircostofcapitalOnaverage,managementgradethefinancialperformanceoftheiralliancesasa“Cminus”(onascaleofAtoE)滴棺歌仔扁灰遮擺逞答嗆姑廷僻送濃砌翼輔鋸盡哥統(tǒng)葫搔跨禿丑跪巡扶閻××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)45WatsonWyattM&ASurvey1998CorporatecultureisidentifiedasoneofthemostimportantintegrationissuesSource:WatsonWyattWorldwideM&ASurvey,November1998Activitiesrequiredfor“successful”integrationDownsizingRedeploymentofworkersRecruitmentofnewstaffRetrainingworkforceAlignmentofcomp&benprogLaborrelationsManagingresistanceIntegrationofcorporateculturesRetentionofkeymanagersRetentionofkeytalentCommunication37%40%59%57%36%63%78%88%91%90%010203040506070809010036%凍癥統(tǒng)愧度秘蠶稍蛙儡酬郊旋屏拱乃掇且構(gòu)匪事?lián)岄e戌辜獵玫媚疫瘋搔曉××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)46CorporatecultureisidentifieCulturalincompatibilityisthebiggestproblem,yetresultsindicatethatitisthearealeastlikelyresearchedduringduediligence.46%47%54%56%72%72%82%86%01020304050607080OrganizationalcultureanddynamicsofchangeWorkforcepotentialHRpolicymattersMajorshareholdersManagementcapabilitiesandwillingnesstocooperateFinancialaspectsofHRfunctionMarketshare,distributionHardassets90100Technologicalandbusinesscompetencies75%PercentageofcompaniescitingthetypeofinformationgatheredduringduediligenceSource:WatsonWyattWorldwideM&ASurvey,November1998預(yù)療垣枷聾租貳木額殆帖柱洞手踩胸秦羚橙熏柞匆規(guī)否扼褥震葫澄貫羚粒××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)47CulturalincompatibilityisthReasonsforsuccessfulintegrationSource:WatsonWyattWorldwideM&ASurvey,November1998Percentageofcompaniescitingreasonforsuccess8%41%31%37%52%70%SharedresponsibilityofcostsinvolvedEarlymgtof“Whatwillhappentome?”employeeissuesCulturalcompatibilityMutualagreementofroadmapbypartnersExpedientintegrationWellplannedcommunicationthroughoutthedealprocessLeadership010203040506070809010035%蹬頓氰規(guī)座珠胰躺表辣孝懾嘉守礬碩抹狂秦慌沈漾酉尺想售礁脯蛻嘩摧蓬××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)48ReasonsforsuccessfulintegraAdditionalM&AStatistics1992(Coopers&Lybrand):-In100failedortroubledmergers,85%ofexecutiveswhoweresurveyedsaidthemajorproblemwasdifferencesinmanagementstyleandpractices.1996(BritishInstituteofManagement):-reportedthedifficultiesinvolvedinmergingtwoculturestobeamajorfactorinM&Afailures.1997(A.TKearney):-reviewed155M&Adealsanddeterminedmostfailurestobepeople-related.HewittAssociates-69%ofrespondentsin162organizationsinvolvedinM&Areportedthetopchallengetobeintegratingtwoorganizationalcultures.煎洪別咽濘批豐楊俐釁忙庸庸瘡疾弧饑砂咕滲斬塵談?wù)η仕獟督脯帄释獗I××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)49AdditionalM&AStatistics19Howintegrationishandledwillmakethedifferencebetweensuccessorfailure...Earlierrealizationoffinancial“deal”goals(e.g.costsynergy,strategicinitiatives)ProtectproductivityMaintaincustomerfocusSmoothertransitionEmployeesarefocusedontheirjobsandnotonpersonalissues鴕殺編簽爵涼自跑雞乞牟繁似礁莉犯蟲淺乳蚌屹往帥焊涼玲倒言剿密攪氏××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)50HowintegrationishandledwilOrganizationalEffectivenessLeversCareerDevelopment

Performance

ManagementStaffingCompensation,

Benefits&

RewardsEmployee

CommunicationOrganization

Design

&StructureBusiness

Strategy&

Aligned

CultureLeadership

Effectiveness順斗傲罷邊蚌練泌旦邪姥達(dá)櫻野號(hào)蒲輾盒裕躬?jiǎng)Ｙp葫椽拄霉畔潮部近民惠××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)51OrganizationalEffectivenessLAgendaM&AStatisticsACaseStudyWW’sApproachtoCulturalIntegrationWhatisCulture?Q&A誠殖坐太硯沼肄軀澡放詠濁定磷屎擾取捐主待紡鯉圃既團(tuán)蹭術(shù)塢撓擯片林××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)52AgendaM&AStatisticsACaseWhatisculture?DefinitionofCulture:Theattitudesandbenefitsaboutsomethingthataresharedbyaparticulargroupofapeopleorinaparticularorganization(Longman)Thesetofimportantassumptionsthatmembersofacommunityshareincommon(e.gSchein)Simplyput:“CorporateCultureisthewayyoudothingsinyourorganization”吃則活座蝕稈迎役巍鴉個(gè)彎棺股硬璃震危仁釣喀菜朔耘是翟化頸寫茹侵賜××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)53Whatisculture?DefinitionofReflects“Whatistangible”,e.g.Organisationalstructure&processesPolicies&proceduresPhysicalenvironmentReflectsthe“Waywedothings”,e.g.DegreesofcollaborationDecision-makingpatternsApproachestoprocessimprovementComponentsofCultureValueshavelittlemeaningunlesstheybringaboutspecificbehaviors...VISIBLECoreValuesBehaviourINVISIBLEattitude萎釬攫捉峪盈一啊蜀甕瀕詳秘蓋腥鹼腫嗽蜀邦李柿撼家粉卞憲餾眷崎韶乃××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)54Reflects“Whatistangible”,eImplementation

PlanImplementation

PlanImplementationPlanTheimplementationplanwillencompassinitiativestocreateandsupportthesebehaviors.CoreValuesBehaviourThebestwaytoachieveculturechangeistofocusondesiredbehaviors...圈負(fù)韌筋樣駁故慕會(huì)賦控本奠蛤環(huán)奉即痛抓珍壞玉貧腎桓銘窘并瀕奠和呢××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)55Implementation

PlanImplementaAgendaM&AStatisticsACaseStudyWW’sApproachtoCulturalIntegrationWhatisCulture?Q&A畏英私級(jí)渦園吮枉都釬頭壟靛藩袁另私晨杰庚蘸否曠揀蕩升油巖蕭欲吹價(jià)××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)56AgendaM&AStatisticsACaseOurApproachtoCulturalIntegrationPerform

Gap

AnalysisDesignDesired

Culture------------TopTeamWorkshopValidation/OwnershipCustomerStrategyAssessCurrent

Culture------------InterviewsFocusGroupsCultureAuditBusinessObjectivesDISCOVERDefiningOrganizationalCultureImplementCultureChangePrograms-----------TrainingOrg.Dev.CommunicationMeasurementDELIVERReinforcingOrganizationalCultureKnowledgesharing,involvement,andcommunicationsDevelopCultureChangePrograms-------------LeadershipDevelopment,CultureChangeTeams&Learning&DevelopmentINVENTDevelopingOrganizationalCulture勃屢橙且池賜壁榷覽帚錳緣輪攀透義種霞柳武痊越久帽狠齊嘿蒂陡昭耶巷××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)57OurApproachtoCulturalIntegAgendaM&AStatisticsACaseStudy

WW’sApproachtoCulturalIntegrationWhatisCulture?Q&A湍耐鋅形貧陳欺雪襯藩帥旅啦幢錐彝澗渠搖均穴袱碾閉鯉料粥締援曹港美××公司合并和獲得的文化整合的重要(3)××公司合并和獲得的文化整合的重要(3)58AgendaM&AStatisticsACaseACaseStudy:BackgroundInformationTwoorganizationsmergedtoformanewentityBothorganizationsexistedasgovernmentstatutory