The document summarizes a course on mergers and acquisitions (M&A). It outlines the course requirements, provides an overview of the M&A process and key terms, discusses reasons why companies engage in M&A, examines ethics in M&A deals, and differentiates between lead and supporting roles in M&A transactions. The presentation also reviews the history of M&A waves and provides examples of Israeli tech company acquisitions from 2008.
Media Management 2011-Strategy Module - Jan 21_2Robin Teigland
Slides from my second lecture in the Strategy module in the 2011 Media Management Course at Stockholm School of Economics and the Royal Institute of Technology. here is more information on the course: http://nordicworlds.net/2011/01/21/strategy-course-focuses-on-virtual-worlds-and-gaming-industries/
IBM Global Business Services -- Strategies for succeeding in the new economic...IBMElectronics
"IBM Global Business Services, through the IBM Institute for Business Value,
develops fact-based strategic insights for senior executives around critical public and private sector issues."
Mergers & Acquisitions are often used as part of a
company's globalization strategy, for both intra-regional and international deals. However, substantial number of them fail. Read more to find out the challenges or visit us at: http://www.verityconsult.com
Monique GilliamWednesday27 Nov at 2102Manage discussion entry.docxroushhsiu
Monique Gilliam
Wednesday27 Nov at 21:02
Manage discussion entry
Week 2 Discussion Forum
Discuss the elements of strategic management and explain why it is crucial to an organization's survival. Excluding the examples from the textbook, give an example of a company that failed as a result of poor strategic management. Explain the difference between a strategy and a business model. Please discuss this in 200-250 words.
Strategic management is a strategy that provides direction for a company. Strategic management is a plan that includes situation analysis, strategy formulation, strategy implementation, and strategy evaluation. Situation analysis is how managers learn and understand what the company is capable of, along with the customers and the business environment. Strategy formulation is the process that is used to achieve the goals of the company. Strategy implementation puts the plan in motion, and strategy evaluation tests the effectiveness of an idea.
For a business to survive, the management team must be willing to grow the company to obtain new opportunities; without growth, a business will not be able to maintain longevity with a large amount of competition. The extension allows a business the ability to obtain assets, funds, and investments that will enable a push toward performance and profits.
Sears is a company that I believe that failed because of poor strategic management. Sears has been a household name for many years until new competition such as Walmart and Amazon, to name a few came on the scene. I don't believe Sears had a plan, strategy, or a goal of how-to compete because of their household name in the past. A business should always be assessing its strategy for success; if not, the industry could be left behind. Sears, in my hometown, never had any significant updates to the store or the merchandise to keep up with the competition. It seems to me that their strategy was just lower prices on already low-quality merchandise, excluding exercise equipment, appliances, and outdoor equipment.
All businesses, large and small, should have a strategy and a business model. A strategy is a plan of action that explains what the company will and will not do, how they plan to compete with the competition, and how they will execute the plan. The business model is how the company plans to make a profit; also, the business model identifies what the products and services are and who their target market is and any expenses. These two plans will aid in keeping a business moving in the right direction.
James Miller
Thursday28 Nov at 6:30
Manage discussion entry
Strategic Planning
BUS402 Week 2
Discussion 1
Discuss the elements of strategic management and explain why it is crucial to an organization’s survival.
The process of strategic management is made up of four elements: situation analysis, strategy formulation, strategy implementation, and strategy evaluation. Situational analysis is the stepping off point of strategic mana ...
Issue | McKinsey Quarterly 2013 Number 4
@McKQuarterly
Strategy to beat the odds
Examines how to make wise strategic choices, mobilize the C-suite to take advantage of big data, use social technologies to engage employees and transform organizations, and build vibrant communities with help from companies.
Rabah Arezki - Middle East and North Africa World Bank
ERF Conference on “Arab Oil Exporters: Coping with a New Global Oil Order”
Kuwait, November 26-27, 2017
www.erf.org.eg
related files1208771704.pdfTen timeless tests can help yo.docxdebishakespeare
related files/1208771704.pdf
Ten timeless tests can help you kick the tires
on your strategy and kick up the level of strategic
dialogue throughout your company.
Have you tested your
strategy lately?
‘What’s the next new thing in strategy?’ a senior executive
recently asked Phil Rosenzweig, a professor at IMD,1 in Switzerland. His
response was surprising for someone whose career is devoted to
advancing the state of the art of strategy: “With all respect, I think that’s
the wrong question. There’s always new stuff out there, and most of
it’s not very good. Rather than looking for the next musing, it’s probably
better to be thorough about what we know is true and make sure we
do that well.”
Let’s face it: the basic principles that make for good strategy often get
obscured. Sometimes the explanation is a quest for the next new thing—
natural in a field that emerged through the steady accumulation of
frameworks promising to unlock the secret of competitive advantage.2
In other cases, the culprit is torrents of data, reams of analysis, and
piles of documents that can be more distracting than enlightening.
Ultimately, strategy is a way of thinking, not a procedural exercise
or a set of frameworks. To stimulate that thinking and the dialogue that
goes along with it, we developed a set of tests aimed at helping exec-
utives assess the strength of their strategies. We focused on testing the
strategy itself (in other words, the output of the strategy-development
process), rather than the frameworks, tools, and approaches that generate
Chris Bradley, Martin Hirt, and Sven Smit
1 International Institute for Management Development.
2 For a rich account of strategy’s birth and growth as a field, see Walter Kiechel, The Lords of
Strategy, Boston, MA: Harvard Business School Press, 2010.
J A N U A R Y 2 0 1 1
s t r a t e g y p r a c t i c e
2Have you tested your strategy lately?
strategies, for two reasons. First, companies develop strategy in many
different ways, often idiosyncratic to their organizations,
people, and markets. Second, many strategies emerge over time rather
than from a process of deliberate formulation.3
There are ten tests on our list, and not all are created equal. The first—
“will it beat the market?”—is comprehensive. The remaining nine dis-
aggregate the picture of a market-beating strategy, though it’s certainly
possible for a strategy to succeed without “passing” all nine of them.
This list may sound more complicated than the three Cs or the five forces
of strategy.4 But detailed pressure testing, in our experience, helps
pinpoint more precisely where the strategy needs work, while gener-
ating a deeper and more fruitful strategic dialogue.
Those conversations matter, but they often are loose and disjointed.
We heard that, loud and clear, over the past two years in workshops
where we explored our tests with more than 700 senior strategists ...
Responding to the Impact of #Covid19 Pandemic & Economic Crisis and Beyond - ...Richard Platt
So this Economic Crisis caused by the #Covid19 pandemic has hit us all pretty hard, so I thought you might want to get a leg up and over this whole thing and leverage your own and your organization's talents and abilities to make that Innovation Pivot, that everyone is going to need to do, and done quickly, otherwise it's not good for you and your company. This #Covid19 has been a big reset, but more than that, it's a #StrategicInflectionPoint, which basically means that everyone's profitability and competitive advantage got smashed, and you all are going to have to do something about that...and the one way we know, that will work, is to #innovate your way out of this economic downturn, because at the end of the day, no company or individual is going to survive this impact without Innovating their way out of the situation. So we suggest you have a read and let us know what you think, and if you need help let us know, we do know how to deal with this, learn how to #systematically innovate and get you going once again and back to being profitable and competitive individuals and firms.
My presentation and exercises on Leading Change for an Executive Education program. The presentation includes an exercise in which the participants work in groups on a live change project within their organization during a period of three months. Please let me know if you have any questions.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Media Management 2011-Strategy Module - Jan 21_2Robin Teigland
Slides from my second lecture in the Strategy module in the 2011 Media Management Course at Stockholm School of Economics and the Royal Institute of Technology. here is more information on the course: http://nordicworlds.net/2011/01/21/strategy-course-focuses-on-virtual-worlds-and-gaming-industries/
IBM Global Business Services -- Strategies for succeeding in the new economic...IBMElectronics
"IBM Global Business Services, through the IBM Institute for Business Value,
develops fact-based strategic insights for senior executives around critical public and private sector issues."
Mergers & Acquisitions are often used as part of a
company's globalization strategy, for both intra-regional and international deals. However, substantial number of them fail. Read more to find out the challenges or visit us at: http://www.verityconsult.com
Monique GilliamWednesday27 Nov at 2102Manage discussion entry.docxroushhsiu
Monique Gilliam
Wednesday27 Nov at 21:02
Manage discussion entry
Week 2 Discussion Forum
Discuss the elements of strategic management and explain why it is crucial to an organization's survival. Excluding the examples from the textbook, give an example of a company that failed as a result of poor strategic management. Explain the difference between a strategy and a business model. Please discuss this in 200-250 words.
Strategic management is a strategy that provides direction for a company. Strategic management is a plan that includes situation analysis, strategy formulation, strategy implementation, and strategy evaluation. Situation analysis is how managers learn and understand what the company is capable of, along with the customers and the business environment. Strategy formulation is the process that is used to achieve the goals of the company. Strategy implementation puts the plan in motion, and strategy evaluation tests the effectiveness of an idea.
For a business to survive, the management team must be willing to grow the company to obtain new opportunities; without growth, a business will not be able to maintain longevity with a large amount of competition. The extension allows a business the ability to obtain assets, funds, and investments that will enable a push toward performance and profits.
Sears is a company that I believe that failed because of poor strategic management. Sears has been a household name for many years until new competition such as Walmart and Amazon, to name a few came on the scene. I don't believe Sears had a plan, strategy, or a goal of how-to compete because of their household name in the past. A business should always be assessing its strategy for success; if not, the industry could be left behind. Sears, in my hometown, never had any significant updates to the store or the merchandise to keep up with the competition. It seems to me that their strategy was just lower prices on already low-quality merchandise, excluding exercise equipment, appliances, and outdoor equipment.
All businesses, large and small, should have a strategy and a business model. A strategy is a plan of action that explains what the company will and will not do, how they plan to compete with the competition, and how they will execute the plan. The business model is how the company plans to make a profit; also, the business model identifies what the products and services are and who their target market is and any expenses. These two plans will aid in keeping a business moving in the right direction.
James Miller
Thursday28 Nov at 6:30
Manage discussion entry
Strategic Planning
BUS402 Week 2
Discussion 1
Discuss the elements of strategic management and explain why it is crucial to an organization’s survival.
The process of strategic management is made up of four elements: situation analysis, strategy formulation, strategy implementation, and strategy evaluation. Situational analysis is the stepping off point of strategic mana ...
Issue | McKinsey Quarterly 2013 Number 4
@McKQuarterly
Strategy to beat the odds
Examines how to make wise strategic choices, mobilize the C-suite to take advantage of big data, use social technologies to engage employees and transform organizations, and build vibrant communities with help from companies.
Rabah Arezki - Middle East and North Africa World Bank
ERF Conference on “Arab Oil Exporters: Coping with a New Global Oil Order”
Kuwait, November 26-27, 2017
www.erf.org.eg
related files1208771704.pdfTen timeless tests can help yo.docxdebishakespeare
related files/1208771704.pdf
Ten timeless tests can help you kick the tires
on your strategy and kick up the level of strategic
dialogue throughout your company.
Have you tested your
strategy lately?
‘What’s the next new thing in strategy?’ a senior executive
recently asked Phil Rosenzweig, a professor at IMD,1 in Switzerland. His
response was surprising for someone whose career is devoted to
advancing the state of the art of strategy: “With all respect, I think that’s
the wrong question. There’s always new stuff out there, and most of
it’s not very good. Rather than looking for the next musing, it’s probably
better to be thorough about what we know is true and make sure we
do that well.”
Let’s face it: the basic principles that make for good strategy often get
obscured. Sometimes the explanation is a quest for the next new thing—
natural in a field that emerged through the steady accumulation of
frameworks promising to unlock the secret of competitive advantage.2
In other cases, the culprit is torrents of data, reams of analysis, and
piles of documents that can be more distracting than enlightening.
Ultimately, strategy is a way of thinking, not a procedural exercise
or a set of frameworks. To stimulate that thinking and the dialogue that
goes along with it, we developed a set of tests aimed at helping exec-
utives assess the strength of their strategies. We focused on testing the
strategy itself (in other words, the output of the strategy-development
process), rather than the frameworks, tools, and approaches that generate
Chris Bradley, Martin Hirt, and Sven Smit
1 International Institute for Management Development.
2 For a rich account of strategy’s birth and growth as a field, see Walter Kiechel, The Lords of
Strategy, Boston, MA: Harvard Business School Press, 2010.
J A N U A R Y 2 0 1 1
s t r a t e g y p r a c t i c e
2Have you tested your strategy lately?
strategies, for two reasons. First, companies develop strategy in many
different ways, often idiosyncratic to their organizations,
people, and markets. Second, many strategies emerge over time rather
than from a process of deliberate formulation.3
There are ten tests on our list, and not all are created equal. The first—
“will it beat the market?”—is comprehensive. The remaining nine dis-
aggregate the picture of a market-beating strategy, though it’s certainly
possible for a strategy to succeed without “passing” all nine of them.
This list may sound more complicated than the three Cs or the five forces
of strategy.4 But detailed pressure testing, in our experience, helps
pinpoint more precisely where the strategy needs work, while gener-
ating a deeper and more fruitful strategic dialogue.
Those conversations matter, but they often are loose and disjointed.
We heard that, loud and clear, over the past two years in workshops
where we explored our tests with more than 700 senior strategists ...
Responding to the Impact of #Covid19 Pandemic & Economic Crisis and Beyond - ...Richard Platt
So this Economic Crisis caused by the #Covid19 pandemic has hit us all pretty hard, so I thought you might want to get a leg up and over this whole thing and leverage your own and your organization's talents and abilities to make that Innovation Pivot, that everyone is going to need to do, and done quickly, otherwise it's not good for you and your company. This #Covid19 has been a big reset, but more than that, it's a #StrategicInflectionPoint, which basically means that everyone's profitability and competitive advantage got smashed, and you all are going to have to do something about that...and the one way we know, that will work, is to #innovate your way out of this economic downturn, because at the end of the day, no company or individual is going to survive this impact without Innovating their way out of the situation. So we suggest you have a read and let us know what you think, and if you need help let us know, we do know how to deal with this, learn how to #systematically innovate and get you going once again and back to being profitable and competitive individuals and firms.
My presentation and exercises on Leading Change for an Executive Education program. The presentation includes an exercise in which the participants work in groups on a live change project within their organization during a period of three months. Please let me know if you have any questions.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
2. Presentation will include:
Course Overview
Targets
Expectations
Why M&A?
M&A Process and Key Terms
Ethics in M&A
Lead vs. Supporting Roles in M&A
2/27
3. Course Overview
Sundays, 20:15-21:30, Room 253
Lecturer: Yair Friedman
Internet Site: www.friedman.org.il
Class attendance is not obligatory.
However, Work submission is mandatory…
If you do attend, please be ready.
Cell phones on Mute…
3/27
4. Course Overview
Lectures and Class Discussions
Required Reading
Individual Case Write-Ups
Sector Comparable Analysis
Historical Transaction Analysis
Deal Proposal Exercise
Bonus: Presentation of your choosing
4/27
5. Presentation Bonus
Pick a Merger or Acquisition.
List reasons, prices, problems, etc.
Financials Overview (acquirer and target)
State your opinion
Differences between owning a firm and being
a shareholder.
5/27
6. Targets
To provide a broad overview of the M&A
process, an understanding of the conceptual
framework and a review of empirical evidence.
To cover key aspects of the Acquisition
business process from corporate strategy, to
target evaluation, to deal negotiation, close,
and integration.
Combining theory and know-how.
6/27
8. Why M&A?
Range for “failure”: approximately 50%.
So, why acquire? Explanations include:
Markets are rational but managers are irrational
Markets and managers are irrational
Markets are irrational but managers are rational
Rational markets and managers
8/27
9. The Question
Companies end up doing business on
a larger scale, with increased economic
power, but the question is whether or
not they gained competitive advantage /
market power.
9/27
10. Exemplary Reasons
Make (grow organically) versus Buy.
Access to new technology, manufacturing
capacity or suppliers.
Access to management or technical talent.
Synergy (e.g. expenses / costs reduction).
Access to new product lines.
Quick access to new markets or industries.
10/27
11. Why do some M&As fail?
No “Fit”
Price
“Culture”
Home-work / planning
11/27
12. Strategy ≠ M&A
M&A is not a strategy.
Strategy has become a catchall term used to
mean whatever one wants it to mean.
Strategy is the means by which organizations
achieve their objectives.
The essence of strategy is making choices,
and mainly answering the following questions:
“Where to compete?” and “How to compete?”
(Grant, 1991)
12/27
13. Strategy
A strategy (Hambrick & Fredrickson, 2001)
has 5 elements, providing answers to 5
questions:
Arenas
Vehicles
Differentiators
Staging
Economic logic
13/27
14. M&A Waves
Mergers have typically occurred in cyclical
patterns: periods of intense merger activity
have been followed by intervening periods of
fewer mergers.
Historians and M&A specialists have
identified five merger waves in US history.
14/27
15. First Merger Wave (1897-1907)
Followed the Depression of 1883.
Most mergers concentrated in a handful of
industries: petroleum, mining, metals, food and
transportation.
Included many horizontal mergers, so
affected industries became concentrated.
15/27
16. Second Merger Wave (1916-29)
Began during World War I and continued
until the stock market crash of 1929.
Mergers faced increased governmental
scrutiny because of the first merger wave.
Mergers were characterized by oligopolies
rather than monopolies.
16/27
17. Third Merger Wave (1965-1969)
Coincided with a period of economic
prosperity in the US. The strong economy
gave many firms the resources necessary to
acquire other companies.
Characterized by as conglomerate mergers.
Horizontal mergers were subject to strict
antitrust enforcement.
Johnson Administration (1963-1969) favored
aggressive antitrust enforcement.
17/27
18. Fourth Merger Wave (1981-1989)
Coincided with the presidency of Ronald
Reagan, and the economic prosperity of the
mid- to late-1980s.
Although most mergers that occurred were
“friendly,” there were more hostile takeovers
than previously (“corporate raiders”).
Mergers were larger than those of
earlier periods. Mergers in the
billion-dollar range became common. Debt
was more widely used to finance mergers.
18/27
19. Fifth Merger Wave (1993-2000)
Followed the economic recession of 1990-
91, and coincided with the Clinton presidency.
Large mergers occurred at about the same
level as during the fourth merger wave; hostile
takeover activity diminished.
Mergers emphasized longer term business
strategies. Debt-financed mergers were less
common than during the fourth wave.
19/27
21. Selected M&As in 2008
Value of
Company Acquirer Industry Acquisition
Barr (US) Teva Pharmaceuticals $ 7.2B
Let It Wave (France) Zoran Video Solutions $27.6M
Zoomix Microsoft (US) Software $20-30M
SDM Bank (Russia) Hapoalim Bank Banking $111M
Destinator Intrinsyc (Canada) Wireless Software $16M
Revaho (Holland) Netafim Irrigation $60M
Photon Dynamics (US) Orbotech Inspection Systems $290M
Eutronsec (Italy) Aladdin Security Software €10M
Care Vision (Europe) Baviera (Spain) Ophthalmology €22M
Qumranet Red Hat (US) Software $115M
Tribe (US) Osem Food $57M
Pixer Technology Carl Zeiss (Germany) Optics Solutions $70M
Logos (Czech) Ness Technologies IT services $68M
Source: The marker and other news sites
21/27
22. M&A Process and Key Terms
Deal Flow
Due Diligence
Valuing issues (DCF, Multiples)
Negotiation / Bidding
Closing
Post-merger integration
22/27
23. Process
Time Frame: Min. 2-6 Months
And only then, the real work begins:
PMI (post merger integration)…
23/27
24. Ethics in M&A
Strong reputation attracts buyers as well as
yields higher returns through price premiums.
Moral philosophy offers various perspectives:
Consequence
Duty / Intention
Virtue
24/27
25. Lead vs. Supporting Roles
Buyers and sellers shareholders.
Supporting roles include:
Key managers
Board of Directors
Minority investors
Advisors
Employees and other stakeholders
25/27
26. Summary
We outlined the course and its requirements.
Overviewed M&A history and process.
Discovered Dilbert’s thoughts on M&A…
Examined M&A roll in the Strategic process.
Discussed Ethics in M&A.
26/27