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A fundamental rule in M&A is to not destroy value, so you have to take the time to design your processes and plan to deal with the possibility of things going wrong. I’ve found that the most frequent problems are relating to people – how they react to changes and how they react to it and what they do if things don’t go as planned.
We assist our clients in setting up an organization that allows them to spot problems early and to respond quickly. This can be done by having weekly IMO meeting as well as functional work streams to assess the progress of the process and escalate issues and risks to SteerCo.
Once the procedure for tackling issues is established It’s crucial to concentrate on execution. That means making sure the team knows what it’s expected to accomplish and how it will be evaluated, and when. It also means clearly stating accountability (i.e. taking responsibility for the final results) and decision-making authority for the entire integrated company.
It’s essential to ensure that the CEO and upper management can spend at minimum 90 percent of their time on core business concerns and not get distracted by integration tasks. It’s an ideal idea to select someone who will oversee the Decision Management Office and coordinate work streams. This could be a person from the acquiring organization, or it can be an emerging star within the newly formed company who has the support of their boss who is willing to make this commitment.
