历年bec中级真题阅读精讲系列之五十八第三辑t4p3实现成功的合并

人邮第三辑TEST4READINGPARTAchievingasuccessfulHoweverattractivethefiguresmaylookonpaper,inthelongrunthesuccessorfailureofamergerdependsonthehumanfactor.Whentheagreementhasbeensignedandtheaccountantshavedeparted,therealproblemsmayonlyjustbebeginning.Ifthereisacultureclashbetweenthetwocompaniesinthewaytheirpeoplework,thenalltheeffortsofthefinanciersandlawyerstostrikeadealmayhavebeeninvain.AccordingtoChrisBoltonofKSManagementConsultants,70%ofmergersfailtoliveuptotheirpromiseofshareholdervalue,riotthroughanyfailureineconomictermsbutbecausetheintegrationofpeopleisunsuccessful.Corporates,heexins,concentratetheireffortsbeforeamergeronlegal,technicalandfinancialmatters.Theyemployarangeofexpertstoobtainthemostfavourablecontractpossible.Butevenattheseearlystages,peopleissuesmustbetakenintoconsideration.Thestrengthsandweaknessesofbothorganisationsshouldbeassessedand,ifitisamergerofequals,thencarefulthoughtshouldbegiventowhich nel,fromwhichside,shouldtakeonthekeyThiswastheissuein2001whentheproposedmergerbetweentwopharmaceuticalcompaniespromisedtocreateoneofthelargestyersintheindustry.Forbothcompaniesthemergerwasintendedtoreversefallingmarketshareandshareholdervalue.However,althoughthecompanies'skillbaseswerecompatible,thechiefexecutivesofthetwocompaniescouldnotagreewhichofthemwastoheaduptheneworganisation.Thisillustratestheneedtocompromiseifamergeristotakece.Buteveninmergersthatdogoahead,therecanbecultureclashes.Onewaytoavoidthisistoworkwithfocusgroupstoseehowemployeesviewtheexistingcultureoftheirorganisation.Inoneexample,wheretwoglobalorganisationsinthefoodsectorwerenningtomerge,focusgroupsdiscoveredthatthecompaniesdisyedverydifferentprofiles.Onewassales-focused,knewexactlywhatitwantedtoachieveandpushedinitiativesthrough.Theothergotinvolvedinlengthydiscussions,tryingoutoptionsmethodicallyandmakingcontingencyns.Thefirstrespondedquicklytochangesinthemarketce;thesecondtooklonger,buttheoptioniteventuallychosewasusuallythecorrectone.Neither 'sapproachwouldhaveworkedfortheother.Theanswerisnottoadoptone 'sapproach,oreventotrytoincorporateeveryaspectofbothorganisations,buttocreateatotallynewculture.Thismeanstakingthebestfrombothsidesandmakinganeworganisationthateveryonecanaccept.Oralmosteveryone.Inevitablytherewillbethosewhocannotadapttoadifferentculture.Researchintotheimpactofmergershasfoundthatcompanieswithdifferingmanagementstylesaretheonesthatneedtoworkhardestatcreatinganewculture.Anothertoolthatcanhelptogettherightculturalmixisinterculturalysis.Thisinvolvescarryingoutresearchthatlooksatthecultureofa andthebusinesscultureofthecountryinwhichitisbased.Itidentifieshowpeople,moneyandtimearemanagedina investigatesthebusinesscustomsofthecountryandhowitspolitics,economicsandhistoryimpactonthewaybusinessisdone.13Accordingtothetext,mergerscanencounterproblemsAcontractsaresignedtooBexpertscannotpredictaccurateingattitudescannotbeDstaffareopposedtothetermsofthe14AccordingtoChrisBolton,whatdomanyorganisationsdoinpreparationforaAensuretheirinterestsareBgivereassurancestoCconsidertheeffectofamergeronysethevaryingstrengthsoftheir15TheproposedmergeroftwopharmaceuticalgroupsfailedAmajorshareholderswereBtherewasafallinthedemandfortheirCtherewereproblemscombiningtheirareasofDanissue alrivalrycouldnotbe16Accordingtothetext,focusgroupscanhelpcompaniesAdevelopnewBadoptcontingencyCbedecisiveandreactDevaluatehowwellmatchedthey17CreatinganewcultureinanewlymergedorganisationmeansAmanagement emoreBthereismorechanceofthemergerCstaffwillfinditmoredifficulttoadapttotheDsuccessfulelementsoftheoriginalorganisationsarelost.18Accordingtothetext,interculturalysiswillshowAwhatkindofbenefitsamergercanleadBhowthenationalcontextaffectstheway isChowlongitwilltakefor culturetoDwhatchangescompaniesshouldmakebeforeamergertakes第十三题问什么情况下并购会遇到麻烦答案是A段的最后一句是cultureclash：如果两个公司的员工在工作方式上存在文化那么金融专家和们为了达易所做cultureclash。attitude具体指公司员工做事情的方式和态度。heexins,concentratetheireffortsbeforeamergeronlegal,technicalandfinancialmatters。公bepresentorfoundinsomething,especiallytoaparticulardegree。第十五题，问这俩公司并购失败的原因是什么。答案是第三段的倒数第二句：thechiefexecutivesofthetwocompaniescouldnotagreewhichofthemwastoheaduptheneworganisation.在新的机构的问题上无法达成一致。所以选D：人员竞争问题无法得到解决alrivalry就是指两个谁也谁第十六题，问focusgroup可以帮助公司干什么。先弄明白focusgroup的意思，看高阶的解释：agroupofpeoplewhohavebeenbroughttogethertod