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The most important rule in M&A is to ensure that you don’t destroy value, which is why you need to take the time to build your processes and plan to deal with the possibility of things going wrong. I’ve found that the most frequent issues are people-related – how they respond to change and how they resist it, and what they do if things don’t go as planned.
We assist our clients to set up the system that will allow them to spot issues early and respond quickly. This can be accomplished by having weekly IMO meeting and functional work streams to review the progress of the process and escalate issues and risks to the SteerCo.
Once the process for tackling issues is established It’s essential to focus on the process of execution. It’s crucial to ensure that everyone knows what is expected of them and how they will be evaluated, and when. Also, it should clearly state accountability (i.e. taking ownership of the final results) and decision-making authority for the entire company.
It is vital that the CEO and senior managers can focus at minimum 90 percent of their time focusing on the most important issues and not be distracted by integration tasks. One way to accomplish this is to select an effective leader to lead the Decision Management Office (IMO) which will help triage the decisions and oversee the work streams. The person could be from the acquired company or be a rising star within the newly formed organization with the backing of their boss.
