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Do Donts Samenwerking

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Waarom mislukken zo veel fusies en samenwerkingen? Wat kunnen bestuurders en adviseurs doen?
Deze presentatie werd gehouden tijdens het seminar van Zorgplan

Published in: Business, Technology
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Do Donts Samenwerking

  1. 1. Tuurlijk kunnen formele samenwerkingen werken.... Infosupport/JdG/20090420
  2. 2. Samenwerkingen en fusies in zorg zijn een hot topic In 25 jaar zijn er 86 ziekenhuisfusies geweest 2 Source: Internet
  3. 3. Index Formal cooperation: failure guaranteed? A model for succesfull cooperations 3 Source:
  4. 4. Acquisitions are aimed at creating extra value though post-acquisition synergy Cost based synergies New total cost are reduced by realising economies of scale and reduction of duplicate activities Example: - Spreading fixed cost like R&D and promotion over synergy more customers - Reducing administration, ICT etc Company A Company A Main reason Company Benefit based synergies B The combination shares competences which facilitates extra revenue or access to new segments Example: - Access to new geographical segment - Access to distribution channels - buying new eCommerce capabilities (Achmea) 4 Source: Capron
  5. 5. A corporation can diversify either vertically or horizontally Supplier business Backward vertical integration Unrelated Related Current Competitor business business business Related Forward vertical Horizontal Unrelated diversification integration expansion diversification Buyer business 5 Source: De Wit & Meyer
  6. 6. Today we focus on formal forms of cooperation Acquisition Merger The initiative should match Joint Venture strategic intent with form, direction and synergy Contract Network 1:1 Agreement Direction Cost Benefit Intended synergie 6 Source: Venture Form Model
  7. 7. Research consistently shows that results don’t meet management’s expectations Improvement of joint results 7 Source: Capron, Douma, Porter Sources:
  8. 8. Just over 50% of the new ventures last at least 5 years 8 Source: Douma, Capron, Porter Sources:
  9. 9. The selection of the right candidate, but especially the failure to integrate are the reasons for not succeeding Reasons CEO’s state for not creating (or even destroying) shareholder value 1.  Failure to integrate the new venture into the corporation 2.  Selecting the wrong candidate 3.  Price for acquisition was too high 9 Source: BCG
  10. 10. Index Formal cooperation: failure guaranteed? A model for succesfull cooperations 10 Source:
  11. 11. Succesfull cooperations start with strategy, manage their formation process and manage the integration - Define the desired synergie based on your strategy -  Select a partner who matches the desired synergie Start with - Set up a sound strategy for the new a strategic venture vision -  Use a experienced, Succesful balanced deal team -  Focus on the integration cooperations -  Set up main principles -  Set up a post acquisition quickly, project that ensures Manage Manage but work out the details synergies are realised integration the thoroughly and process synergie 11 Source: Essence Consulting The
  12. 12. Start with a strategic vision to ensure that your new ventures matches your strategy 2 3 1 Desired Strategy synergy Partner You ? Eg low cost > adv. of scale NewCo Desired synergy Strategy Potential Potential Start by defining what the When selecting the partner After selecting start with needed synergy is to realise focus on the desired synergy. defining a sound strategy for your strategy Don’t fall for ‘the smoothest the venture. Ensure that your process’ desired synergy is the basis for the businessplan DO: DON’T: WMO kantoor Thuiszorg megafusie 12 Source: Essence Consulting The
  13. 13. Use an experienced and balanced deal team Experienced deal teams have a The deal team should combine much higher change of success business, M&A and process skills Succes Business M&A expertise expertise Process management Nr of acquisitions skills KZN case iTouch case 13 Source: Zollo, The Essence Consulting cases M.
  14. 14. Set up the main principles quickly, but work out the details thoroughly Cooperation process lay the foundation for long term performance Business Share- Cooperation set up plan holder process agreement “Set up the main principles quickly, but work out the details thoroughly “ No details.. Flaws in decision CASE: “We agree on the main structure, synergy HbH thuiszorg joint principles, let the experts not realised or too venture work out the details” high priced Details and more details Unsuccessful start CASE: “let’s start with article 1.1.1 or even broken off iTouch definitions” process 14 Source: Zollo, Harding, Taulli, Essence cases
  15. 15. Only in a limited number of cases cost advantages were actively pursuit… % of companies who reported to have actively reduced means after acquisition Strangely enough are cost advantages only limited pursuit In most cases potential cost advantages must be available (fixed cost, processes etc) Most acquiring companies are not pursuing post-acquisition cost advantages 15 Source: Capron
  16. 16. ‘A marriage is worth more then just the wedding’ (focus on integration and realising the synergies) Business Cooperation set up Going concern Share- Integration phase plan holder process agreement Phase where you design the Phase where you REALISE the venture and possible synergies intended synergies Set up an integration project headed by a senior manager Plan a ‘sweep project’ where you ensure that the remaining unrealised synergies are realised CASE: Argonaut 16 Source: Hapeslagh, Capron, M. Zollo

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