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Financial Analysis of M&A Integration : A Quantitative Measurement Tool for Improving Financial Performance [Hardcover]

Stuart Ferguson
4.7 out of 5 stars  See all reviews (3 customer reviews)

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Book Description

June 16, 2003 007140211X 978-0071402118 1

A Quantitative Measurement Tool for Improving Financial PerformanceStuart FergusonIntegration difficulty--or "culture clash"--is the most-cited reason for M&A failures. Financial Analysis of M&A Integrationprovides an innovative tool for quantitatively anticipating and preventing functional problems when combining companies and their disparate cultures. This dramatic new approach will help decision-makers measure the direct impact of behavioral concepts data on ROI, cost of sales, and other business ratios and indicators as they factor the financial impact of cultural differences into valuation, shorten the integration period, and reduce its related costs, and more.

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From the Back Cover

An Innovative New Tool for Measuring--and Mitigating--the Financial and Human Perils of M&A "Culture Clash"

Integration difficulty--i.e., "We can't get along with these people"--is the most-cited reason for the failure of a merger or an acquisition. But what if decision makers had a tool for measuring potential cultural issues and barriers, planning mitigation procedures, or even reevaluating a deal that was doomed from the start?

Financial Analysis of M&A Integration introduces just such a tool. The QUOCA (Quantitative Organizational Cultural Analysis) objectively measures the potential impact of combining organizations and their dissimilar cultures and predicts the possible effect in traditional financial terms such as ROI, payback period, and other business ratios and indicators. This hands-on book provides:

  • An in-depth examination of the business combination process from conception through integration
  • An understanding of the most misunderstood barrier to M&A success--clashes between cultures of combining organizations
  • An innovative approach to predetermining the potential financial impact of combining businesses and their cultures

Quantitative culture analysis is a powerful tool for forecasting the potential success or failure of an M&A deal. Financial Analysis of M&A Integration helps transform a significant barrier to M&A success into an opportunity by defining and anticipating cultural hurdles before they cause financial disasters.

The potential financial benefits of a synergistic, "perfect fit" merger or acquisition are so immense as to be almost immeasurable. So, conversely, are the perils when two or more culturally incompatible organizations are combined into one.

In Financial Analysis of M&A Integration, strategic planning and organizational change expert Stuart Ferguson introduces a unique, quantitative tool for measuring the cultural issues and barriers that can derail even the most carefully planned merger or acquisition. That tool--the Quantitative Organizational Culture Analysis, or QUOCA--allows decision makers from any industry to quantify the cultures of vastly different organizations and determine whether the barriers can be overcome or should be avoided altogether.

Featuring examples from real-world integrations, with analyses of how Dr. Ferguson's QUOCA could have impacted the events and saved the involved companies time and money, Financial Analysis of M&A Integration provides:

  • Strategies for preparing for--or avoiding altogether--deals whose major cultural factors virtually guarantee failure
  • Methodologies for accurately factoring the financial impact of culture on valuation and payback calculations
  • Proven techniques for dramatically reducing the length and associated costs of the integration period

In addition, the book's innovative and invaluable approach shows you how to ask--and answer--the make-or-break questions that managers and executives are often afraid to confront. What are the employee uncertainties on each side of the equation and how should they be addressed? Is the acquired organization more strategically advanced than the acquirer--and, if so, how will ruffled feathers on both sides be smoothed? Financial Analysis of M&A Integration explains how to measure and address these and myriad other important cultural issues, ensuring they don't leap from the shadows at the most inopportune, impractical moments.

When combining two or more organizations, the financial costs of "cultural fit" have always fallen into the realm of theory, guesswork, and, at most, empirical analysis. Financial Analysis of M&A Integration allows executives to shed light on this once pitch-black area. Both qualitatively logical and quantitatively sound, it takes today's most in-depth look at the financial impact of the integration of disparate corporate cultures and helps to remove an important variable--the previously immeasurable human factors that can make or break even the most carefully planned integration--from the M&A equation.

About the Author

Stuart Ferguson, Ph.D., is the founder of Organization Change Resources, a consultancy that focuses on issues from culture assessment and development to organizational change, strategic planning, and team building for such firms as Marriott, Merrill Lynch, MetLife, and others. Formerly a vice president of global financial services at the American Re-Insurance Company, Dr. Ferguson is a frequent speaker at conferences both in the United States and around the world.

Product Details

  • Hardcover: 320 pages
  • Publisher: McGraw-Hill; 1 edition (June 16, 2003)
  • Language: English
  • ISBN-10: 007140211X
  • ISBN-13: 978-0071402118
  • Product Dimensions: 9.4 x 6 x 1.4 inches
  • Shipping Weight: 1.6 pounds
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Best Sellers Rank: #4,579,910 in Books (See Top 100 in Books)

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Customer Reviews

4.7 out of 5 stars
4.7 out of 5 stars
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Most Helpful Customer Reviews
2 of 2 people found the following review helpful
4.0 out of 5 stars A great book about quantitative measurements of M&As October 17, 2003
Acme's Inc. strategy is loud and clear. We will grow our markets and product lines through strategic acquisitions! With over half a billion dollars in Acme's coffers, acquisitions will put us right at the top of our markets!
Do you think, that this M&A strategy works? What will work and what will fail? How are we going to select the right companies for our M&As? All these questions have a common theme - people. The hardest to quantify assets are employees. If we just could factor in their reaction to change, then we will be able to predict Acme's financial performance. In other words, if we add organizational culture measurements to the due-diligence process, then we can gain the insights of how people on both sides will accept or resist an acquisition. And we can do that before risking hundreds of millions of dollars.
How much would such a tool will be worth to you? With more than 2/3 of M&As failing to increase shareholder value, it is easy to see why Stuart Ferguson's Quantitative Organization Culture Analyses, or QUOCA, presents a very valuable resource to executives, integration managers, bankers, and financial analysts - just to mention a few. Check how cultures can make your deal fly, or crash. Personally, I also appreciate the books' easy to read style and flow.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Apt Focus January 2, 2004
By A Customer
This book has a useful focus (financial analysis) and includes helpful case studies. The author has experience as both a manager and teacher, which makes the writing both realistic and readable.
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1 of 1 people found the following review helpful
5.0 out of 5 stars A fresh look at critical acquisition issues November 21, 2003
Dr. Ferguson has made an important contribution to the field of M&A research. His analysis of the impact of cultural issues on the success of acquisitions is thought provoking and very timely. His writing style is clear and entertaining. This is a must read for M&A practioners, corporate development professionals and CEO's of acquisitive companies.
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