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Chapter 21: Managing Culture and Human Resources in Mergers and Acquisitions
Philip K. Goulet and David M. Schweiger Mergers and acquisitions (M&As) have become a popular practice for ﬁrms seeking advantage in highly competitive global markets. They can quickly shape a ﬁrm’s future and the dynamics of the industry in which it operates. M&As are arguably one of the most strategic of management decisions given the signiﬁcant resource commitments and profound performance implications they have on the ﬁrms involved. Consequently understanding how to conduct M&As is critical to the general success of any ﬁrm undertaking this form of organizational transformation. Research over the past two decades has signiﬁcantly advanced our knowledge of M&As. Much of this work has focused on the human aspect of organizational change as a key determinant of M&A success. It is our objective to share some of this exciting work with the reader, and to further extend the discourse on this critical topic. We have structured this chapter into four sections. The ﬁrst section involves an in-depth look at the human element of M&As, and how human resource issues, particularly culture, aﬀect M&A outcomes. The second section identiﬁes interventions that are designed to manage some of these issues. In the third section, we propose a process model of human resource integration in cross-border M&As that synthesizes and extends the extant literature reviewed in this chapter. Finally, the fourth section oﬀers direction for future research. The human element of mergers and acquisitions We are in...
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