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Suggest You - The Role of Cultural Due Diligence in Business Integration Efforts
If you’re a top sales or marketing professional working in the business to business technology, manufacturing, healthcare or business services industries, I’ve got some advice for you on how to best go about optimizing your career search. I’m also going to talk about the job market now and the new way of looking for great positions which or often times not advertised. I’ll also give you a number of other tips and tricks regarding interviewing, r?sum? building techniques, and other useful ideas that I hope you will put to work in order to improve your ability to find that next great position that you’re thinking and dreaming about.It’s a full employment economyIt’s no secret that the economy is fully employed right now with unemployment running less than 5% in most areas of the U.S. Most companies are finding that they are constrained to grow by the quality of the people that they can actually hire or recruit into their businesses. As a sales or marketing candidate, you need to recognize that times have changed. It’s a lot easier to make a move now than it was one or even two years ago, and certainly a lot easier than during the dotcom bubble back in
We recommend that “Cultural Due Diligence” be conducted and integrated into the overall Due Diligence process.
So what exactly is Cultural Due Diligence?
Cultural Due Diligence (CDD) is the process of investigating, assessing and defining the cultures of two or more distinct business units through a cultural assessment to discover areas of similarity and d
As populations in the developed world are growing older and many countries are experiencing a crisis in the pension system, we are facing the prospect of having to work past the usual retirement age. Yet, at the same time, older people are not always welcomed back into the work force. Many also have difficulty finding a new job if they have an unbroken track record and are simply looking for a change in career after the age of 40.There are a number of steps you can take to maximize your chances of getting a job, despite negative views regarding age on the part of some employers.When writing your CV or r?sum?, be sure to target it for the job in question. You can do this by highlighting all the skills and experience which are needed for the job and then proving that you have got them.It is not necessary to put personal information on your CV – in many countries it is illegal to ask about age and this will also become law in the UK in October of this year. You should either leave out your date of birth completely or put it at the end. Do not mention your marital status or the number of children you have or their ages. This is not relevant to the job
Due Diligence is generally comprised of legal due diligence and financial due diligence. At this time, research into financial assets, articles of incorporation, market share, technology, hardware and business competencies are examined.
Unfortunately, for business…one plus one, does not always equal two, particularly when it comes to culture and integrating “human systems”.
Statistics indicate only 15% to 25% of all mergers and various business combinations live up to expectations. 25% to 30% are reported to be outright failures, with the acquired entity being liquidated at a loss within 3 to 5 years of acquisition. The remaining 45% to 60% result in little or no apparent benefit to the buyer’s shareholders.
In today’s merger activity, we see an alarming trend of companies paying too much for the organizations they are acquiring. Declining equity prices are creating a disconnect between what owners want for their businesses and what operating companies are willing to pay, whether in rapidly declining stock or cash they borrow at escalating interest rates. Research shows that the last time there was such a disconnect between buyers and sellers was in 2001, the last time the economy went into hibernation. We may be looking at millions in over-valuation but the potential losses that may be incurred due to lack of cultural integration could be even costlier.
Independent studies by Watson Wyatt Research and the Vector Group, have linked the failure and or success of integration efforts as being directly relational to the attention paid to the culture of the impacted organizations – yet still HR and OD departments are frequently not involved in the initial investigation activities surrounding integration efforts.
We recommend that “Cultural Due Diligence” be conducted and integrated into the overall Due Diligence process.
So what exactly is Cultural Due Diligence?
Cultural Due Diligence (CDD) is the process of investigating, assessing and defining the cultures of two or more distinct business units through a cultural assessment to discover areas of similarity and di
If you are thinking about opening a dollar store, one of the challenges that you will continually face is identifying ways to continually grow your business. There are many obvious methods such as newspaper advertising and seasonal in-store specials. However there are some methods that can be used day after day to keep your presence in front of potential shoppers. The methods include capturing shopper attention as they are approaching the front of your store.One of the methods to capture shopper attention is by creating merchandise displays outside the front door of your store. Displays that are filled with brightly colored items immediately attract attention. Displays that are filled with items for the next big holiday are also make a great attention grabber. The good news for those who are opening a dollar store is that this type of promotion is absolutely free once fixtures are purchased!Displays used for this purpose can include rolling display racks, smaller stacking racks, tables and the free temporary stands that come with some merchandise. All of these are fairly easy to move, taking little time or effort. If you are planning on opening a dollar s
Unfortunately, for business…one plus one, does not always equal two, particularly when it comes to culture and integrating “human systems”.
Statistics indicate only 15% to 25% of all mergers and various business combinations live up to expectations. 25% to 30% are reported to be outright failures, with the acquired entity being liquidated at a loss within 3 to 5 years of acquisition. The remaining 45% to 60% result in little or no apparent benefit to the buyer’s shareholders.
In today’s merger activity, we see an alarming trend of companies paying too much for the organizations they are acquiring. Declining equity prices are creating a disconnect between what owners want for their businesses and what operating companies are willing to pay, whether in rapidly declining stock or cash they borrow at escalating interest rates. Research shows that the last time there was such a disconnect between buyers and sellers was in 2001, the last time the economy went into hibernation. We may be looking at millions in over-valuation but the potential losses that may be incurred due to lack of cultural integration could be even costlier.
Independent studies by Watson Wyatt Research and the Vector Group, have linked the failure and or success of integration efforts as being directly relational to the attention paid to the culture of the impacted organizations – yet still HR and OD departments are frequently not involved in the initial investigation activities surrounding integration efforts.
We recommend that “Cultural Due Diligence” be conducted and integrated into the overall Due Diligence process.
So what exactly is Cultural Due Diligence?
Cultural Due Diligence (CDD) is the process of investigating, assessing and defining the cultures of two or more distinct business units through a cultural assessment to discover areas of similarity and d
So many business leaders and MBA professors say that cutting prices actually hurts profits and it hurts the industry and no one wins. This may be well documented in industries where price competition was not applied correctly or one company started dumping into the market in order to increase market share, but if a company is truly on the ball and has their systems, supply chains, manufacturing processes and management under control and they are operating as efficiently as possible, then their business model should allow them to win a price war.In fact in reality; There is nothing wrong with winning on Price! And there is nothing wrong with winning. Artificial market or industry price boosting actually can be a bad thing, because it makes companies weak and fat, instead of lean and trim and ready to complete the marathon at a record breaking pace. I would like to state for the record that if you cannot beat your competition on price if they start a price war, then you are not as efficient as you should be.In that case you are too fat and no longer have the agility of a start up in the market place and have slipped into a micro-managed stodgy, bureaucracy
In today’s merger activity, we see an alarming trend of companies paying too much for the organizations they are acquiring. Declining equity prices are creating a disconnect between what owners want for their businesses and what operating companies are willing to pay, whether in rapidly declining stock or cash they borrow at escalating interest rates. Research shows that the last time there was such a disconnect between buyers and sellers was in 2001, the last time the economy went into hibernation. We may be looking at millions in over-valuation but the potential losses that may be incurred due to lack of cultural integration could be even costlier.
Independent studies by Watson Wyatt Research and the Vector Group, have linked the failure and or success of integration efforts as being directly relational to the attention paid to the culture of the impacted organizations – yet still HR and OD departments are frequently not involved in the initial investigation activities surrounding integration efforts.
We recommend that “Cultural Due Diligence” be conducted and integrated into the overall Due Diligence process.
So what exactly is Cultural Due Diligence?
Cultural Due Diligence (CDD) is the process of investigating, assessing and defining the cultures of two or more distinct business units through a cultural assessment to discover areas of similarity and d
Every business stores items in boxes or drawers. Most businesses have a plethora of storage containers stacked on shelves and, perhaps seldom have to locate these stored items. But when an employee needs to locate one of the items in storage, can it be found quickly? After all, time is money.Usually, the employee stands in front of a stack of storage containers wondering, "What is in the storage container…or the one underneath?" Time is wasted pulling down containers only to find that the critical object is not in that container but in some other unidentified container. How can this problem be alleviated? It's simple, easy and affordable! A label printer can resolve this dilemma efficiently.By using a label maker, like the Brother PT-65 or one of the many others readily available, each and every storage container can be clearly marked with the contents. A label printer like this has a QWERTY keyboard to make creating the label easy and simple. A small LED screen lets the user see what has been entered so the printout is correct the very first try. Then, the printer function outputs the adhesive-backed label, usually paper, with the words needed to identif
Independent studies by Watson Wyatt Research and the Vector Group, have linked the failure and or success of integration efforts as being directly relational to the attention paid to the culture of the impacted organizations – yet still HR and OD departments are frequently not involved in the initial investigation activities surrounding integration efforts.
We recommend that “Cultural Due Diligence” be conducted and integrated into the overall Due Diligence process.
So what exactly is Cultural Due Diligence?
Cultural Due Diligence (CDD) is the process of investigating, assessing and defining the cultures of two or more distinct business units through a cultural assessment to discover areas of similarity and d
We all realize that the speed of change in organizations and in our lives is increasing dramatically. In order to succeed, employees must help one another survive this rapid change.Let me relate a story that happened to me to illustrate this point. Some years ago in July a weather front came through Marietta, Ohio dumping about six inches of rain on the surrounding area. The next day, the rain continued until 11:00 am when it suddenly stopped and the hot summer sun came out, just like God had turned off the faucet. I thought about the change that had probably taken place along a little creek where I liked to hike. I had plenty of vacation time so I took off the rest of the day to visit my favorite ravine. I went home, put on some cut off shorts and an old pair of tennis shoes, and headed down the path.I reached the mouth of the creek and to my surprise I saw several tons of gravel that had been raked from the bottom of the stream and deposited at its mouth. A new terrace landform had been created that night. I looked at the stream bed and saw the grass matted on the ground. The water had receded but it must have been three or four feet high in th
We recommend that “Cultural Due Diligence” be conducted and integrated into the overall Due Diligence process.
So what exactly is Cultural Due Diligence?
Cultural Due Diligence (CDD) is the process of investigating, assessing and defining the cultures of two or more distinct business units through a cultural assessment to discover areas of similarity and difference that will impact integration efforts and achievement of strategic objectives. It should be combined with regular Due Diligence processes in the case of M&A. The results should be used as a foundational tool for creating integration plans and a baseline for measuring organizational progress in the integration effort over time. This encourages engagement and ensures the organization is aligned and on-track with achieving strategic, human system integration objectives.
The CDD process should be conducted as early into a deal effort as possible. The process can also be used as a benchmarking tool throughout the integration effort to measure progress and confirm human systems are being aligned to business objectives correctly.
The Cultural Due Diligence process covers key cultural and organizational effectiveness domains including:
- Leadership: vision, mission, values, business strategy development, leadership effectiveness and ethics
- Relationships: trust, collaboration, inter/intra group relationships, community and customers
- Communication: feedback, information sharing, employee trust in information
- Infrastructure: formal procedures, processes, systems, policies, structure and teams
- Involvement & Decision Making: authority levels, accountability, expectations and the decision making process
- Change Management: creativity, innovation, recognition, continuous learning and diversity
- Finance: perception of financial health and the role of the employee and the level of financial comprehension and impact on the business
- Cultural Descriptors: a list of predetermined values w
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