讲解并购整合咨询框架英文(ppt 60页)

Table of contents
Executive Summary
Our Understanding of Your Situation
A.T. Kearney’s Perspective on Merger Integration
Proposed Overall Approach
Realizing Integration Synergies
Integration Management
A.T. Kearney Qualifications

 

Executive SummaryThis section is tailored to the client situation and summarizes the approach proposed in the document
Our Understanding your SituationThis section is tailored to the client situation and summarizes the key drivers of the merger.  It should highlight relevant quantitative and qualitative analysis that demonstrate our insight into the client’s  particular challenges and drivers of success for the integration
Create a sense of urgency and reduce uncertainty through clear event milestones, and move quickly

Select top-level leadership quickly and fairly; avoid “two-in-the-box” leadership for integration planning and execution unless absolutely necessary

Set out synergy goals and objectives, to prioritize activities and provide a baseline for performance tracking

Manage market expectations carefully.  Set conservative dollar targets with a time frame that accommodates unforeseen circumstances

Keep strong, explicit focus on key customer retention and service with teeth (i.e., measurement and tracking)

Maintain open and timely communications  with employees to ensure understanding and retention

Conduct decentralized merger Integration guided forcibly via
Clear guiding principles
Overall framework and tools for integration
Reporting standards

Establish a strong central Integration office and decentralized Integration teams with corporate-wide perspectives on
Results
Project status
Risk
Lead role on internal/external communications

Instill robust, well-defined processes to ensure objective and timely risk and interdependency tracking
In addition, the Steering Committee should establish a clear set of guiding principles
1. “This is not the customer’s merger” — Major focus on avoiding customer inconvenience and loss of customers.  “Customer service can only change for the better.”  Cost savings are important, but second to customer focus
2. Focus analyst expectations on the longer term — Savings goals defined as $1 billion expense “run rate” reduction by end of three years, eliminating short-term, quarter-by-quarter focus
3. Appearance of tight control through Command Center — Command Center used as a single point of contact for all external communications.  External presentations conducted in “war room” to exhibit corporate controls in place
4. Relentless tracking of risk and interdependencies — All merger projects required to use risk and interdependency tracking approach. These were integrated by the Command Center to provide corporate perspective on risk.  Focus of internal meetings on risks and customer issues, not on successes
5. Systems focus on smooth Integration — “Suites” of systems should be selected rather than pursuit of optimal elements from each organization.  Extensive use of “bridges and workarounds” to maintain critical controls while expediting the process
6. End-to-end systems and process testing — No system or process should be considered ready for processing until it has been tested in a “dress rehearsal” mode (usually two dress rehearsals)
7. “1 + 1 = 3” volumes — Strong encouragement of business units to focus on post merger business volumes
1. Fast and fair —  accept that we will make mistakes, but give us credit for being smart enough to be able to recognize them, and not so proud that we can not change
2. Leadership must be evident/inspiring — not holed up in the corner offices/board rooms, but out in evidence with key customers and our employees
3. Harmonization — this has to be a key goal with respect to strategy, key policies, business processes, etc.
4. Minimize ambiguity — be clear in plans, timing, decisions(don’t fuzzify - “don’t know” is ok
5. Short term bias towards the customer — don’t lose sight of the business whatever we do
6. Overcommunicate — you can never do enough here
7. Integration study team should be advisory and separate from management — let management decide and let advisors advise, don’t mix too closely
8. Seek acquaintanceship-building opportunities — informal, formal
9. Emphasis on flexibility/change/fluidity — accept change as a way of life, strategic agility is key, it is management’s first responsibility to take risk (change, growth, wealth creation can only happen by taking risk)

 

 

 

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