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Change management 'vital to success of mergers and acquisitions'
Effective change management is essential for ensuring that merger and acquisition (M&A) processes are executed successfully.
This is according to UK-based business change consultant Siji Otenigbagbe, who told Vanguard that M&A activity can create changes among organisations that extend to their core, a point that must be borne in mind by executives and managers.
The expert noted that this can affect workers in a way that many business leaders do not anticipate, with many people often instinctively reacting aversely to change if they have not been fully convinced of its benefits.
As such, chief executives should discuss the objectives and strategies behind M&A processes with their closest lieutenants before committing, then ensure these ideals are communicated effectively.
"We have machines and computers and software that do our bidding at work, but we need to always remember that we have humans behind those machines, so in the first place change initiatives ... [are] about people," said Mr Otenigbagbe.
The expert's comments come after a PricewaterhouseCoopers report last month suggested that proper leadership in regard to change management is essential if they are to succeed, especially for large-scale deals.
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Categories: Functional Practices