Despite the number of mergers that fail, we keep doing them because they are necessary to achieve the best possible outcome. The only way to accomplish this is by having a clear vision and a compelling integration process. A separate leader for the integration process helps minimize risk and accelerate progress. Here are some strategies to lead a merger or acquisition successfully,
Know the Context
Before starting the process, you must understand the type of integration you’re leading. For instance, knowing if one business is being folded into another, if they’re being united into a completely new company, or if they will continue to exist as separate entities makes a difference in how you approach the situation.
Fully Understand the Business’ Values
The decisions that the board, the CEO, and the owners make are the ones that matter most. A clear understanding of the organization’s values and mission is essential to ensure the success of the process.
Promote a Positive Attitude and Make Strategic Choices
Mergers are often the most significant decisions that a company makes. The core nature of the business, which drives every other choice, is also vital to ensure that the process is successful. One of the most common factors that a company considers when it comes to cultural integration is whether or not to merge one culture into another. The role of an integration leader is unique because it can be a combination of a program manager, an interim leader, and a part-time air traffic controller.
Interim leaders typically end their role when the integration is complete. Before starting the process, you must consider where you want to go next. For instance, if you want to be part of the organization’s future leadership team, you might want to return to the parent company. The role of an integration leader is usually part of the team’s implementation of the company’s vision and mission. While making tactical decisions, ensure you’re aligned with the board, the CEO, and the owners.
Build Relationships
During times of crisis or change, people tend to wonder how they fit in. This is because they don’t know what to expect regarding their relationships with the top leadership team, the board, the CEO, and the integration leadership team. As you build relationships with the people leading the organization, you’ll also have to ensure that you give them the necessary information to make informed decisions.
If you’ve dropped in on the CEO, ensure you invest in developing trust in them. If you’re still feeling resentful or distrustful, immediately jump-start your loyalty by disengaging from your previous situation. You can also engage with the new boss as soon as possible.
Lead the Team to Make a Lasting Impact
The goal of an acquisition is to accelerate the organization’s future capabilities. Before starting the process, ensure you’re aligned with the company’s vision and mission. One of the most critical factors you’ll have to consider is the multiple strategies that will allow you to implement the organization’s future capabilities. Once you have the necessary structures, you can build cross-functional teams and implement the organization’s future capabilities.
You should regularly communicate with the entire organization to ensure that everyone is aware of the status of the integration. Having the necessary people know about the deal will allow you to make informed decisions.