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Tip

Prioritize Global Collaboration for International Mergers & Acquisitions

 

The failure rate of mergers and acquisitions is as high as 70 percent, and the primary cause of failure is not lack of intelligence or technical skills but misunderstandings and differences in perceptions and expectations. When the merger or acquisition is global (as most are), the combination of new ethnic cultures, in addition to new corporate cultures, increases that challenge.

Here are a few key steps for enhancing global collaboration:

  • Build effective teamwork by strengthening relationships and establishing mutual respect and trust through an understanding of cultural differences.
  • Create personal and team-based objectives, action plans, and metrics for success; implement recommendations that balance the needs of both global and regional stakeholders.
  • Enable constructive and timely feedback and more effectively clarify roles, responsibilities and accountability.
  • Enhance Global Project Management skills by building strong networks of support and partnership across geographies, functions and groups and by applying Cultural Intelligence (CQ) to ongoing projects.
  • Learn techniques to enhance problem solving across cultures.
  • Enhance techniques to effectively facilitate global/virtual team meetings and ensure equal voice and participation across geographies.
  • Improve communication through methods to overcome language barriers and handle conflict.
  • Improve effectiveness by giving and receiving feedback, seeking out the opinions of others regardless of differences to achieve mutual understanding and build trust.
  • Respond to cultural differences through acquiring observation and interactive skills.