Finding Continuity in a Serial Acquirer
This chapter focuses on the acquiring company. The data was collected from a 30-year-old company, which, during its life course, has undergone both a change from family ownership to investor ownership and rapid growth through a series of acquisitions. Dur
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Riikka Harikkala-Laihinen
Managing Emotions in Organizations “It is something of a mystery as to why and how some international acquisitions succeed, and others fail to achieve their expected performance. Negative emotions in the workforce are suspected of playing an important role, but whether these are consequences or causes of underperformance remains obscure. This in depth case study research by Dr. Riikka Harikkala-Laihinen gives us some pointers that, for many of us, will chime with our experience. International acquisitions typically cut across cultural boundaries, but it is not these boundaries themselves that are the problem. It is the way that we, and management respond to them, to anticipate concerns. This is important because, it puts the ball back firmly in the court of management, and gives agency to the firm’s leadership. Dr. Harikkala-Laihinen’s analysis suggests that the key is positivity. This is not merely spin. Conviction by leaders, and action through, for example, training to engender inclusivity and positive emotional attitudes allays the natural fears of staff that eat away at their ability to work together across cultures and perform at their best. This individual and team level underperformance adds up to, not surprisingly, underperformance at the acquisition level. But, positivity, it is suggested, can turn outcomes around. This research is important both for the academic subject field of International Business, as it gets to the heart of questions that remain with us today, and are still unresolved. It is important for international management practice, precisely because it suggests something can be done, and that where there is a will, there is always a way. That, quite simply, is the power of positivity.” —Jeremy Clegg, Jean Monnet Professor of European Integration & International Business Management, University of Leeds “It is often taken for granted that business decisions, especially those involved in mergers and acquisitions are always coldly calculated and rational. In this book, Dr. Harikkala-Laihinen demonstrates that nothing could be further from the truth. In three meticulously researched case studies involving Finnish and German companies, she lays bare the intensely emotional nature of decision-making at all stages of the merger process. As such, the book should be a must-read for business managers seeking to enhance their business though engaging in mergers or acquisitions.” —Neal M. Ashkanasy, Professor of Management, University of Queensland
“This book highlights that companies are not just numbers and machines but consist of human beings. The combination of theoretical research with practical case studies gives valuable insight of the importance of recognizing emotions and proactive leadership especially in times of change. Particularly in M&A activities, starting with the why, communicating actively and engaging employees can smoothen the path on the change journey. This book offers excellent points for reflection and gives valuable ideas of do’s and don’ts for lead
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