英语翻译HowCultureAffectsMergersandAcquisitions.IndustrialManagement•Sept,2000•ExecutiveSummaryEvencompaniesthatappeartobeverysimilarcanhavedifferentcorporatecultures--andthoseculturescanbehardtointegr

　　英语翻译

　　HowCultureAffectsMergersandAcquisitions.

　　IndustrialManagement•Sept,2000•

　　ExecutiveSummary

　　Evencompaniesthatappeartobeverysimilarcanhavedifferentcorporatecultures--andthoseculturescanbehardtointegratewhencompaniesmergeorareacquired.Managingculturalchange,theauthorargues,iscriticaltothesuccessofamergeroracquisition.Hediscusseswhatcultureis,howtoassessit,andhowtointegratetwodifferentcorporatecultures.

　　Makenomistakeaboutit:Thesearethego-goyearsformergersandacquisitions.Buthoweveradepttopexecutiveshavebeeninworkingtheartofthedeal,manyarenowsingingthepost-M&Ablues.Mergingbalancesheets,itturnsout,isfareasierthanmergingcultures.Bysomeestimates,85percentoffailedacquisitionsareattributabletomismanagementofculturalissues.

　　Smartcompaniesknowthatculturalduediligenceiseverybitasimportantascarefulfinancialanalysis.Theyknowthatthevaluesanorganizationholdsareimbeddedinorganizationalstrategyexercisingakindofgravitationalpullondecision-making.Withoutunderstandingtheoftenhiddenandimpliedvaluesthatdrivedecision-makingateverylevel,thechancesaregreatthatamergeroracquisitionwillquicklybeawashinmisunderstanding,confusion,andconflict.