Talent management during mergers and acquisitions in emerging economies
- Authors: Retief, Lance Andre
- Date: 2018
- Subjects: Consolidation and merger of corporations , Employee retention , Corporate culture , Business communication , Organizational change - Management
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/271946 , uj:28933
- Description: Abstract: Ninety percent of high tech mergers and acquisitions fail to deliver the expected increases. Talent retention, communication and integration of corporate cultures are of the major people challenges experienced in mergers and acquisitions. The failure to retain key talented staff and the successful integration of corporate cultures often cause productivity levels to drop to as low as 50 percent, employee satisfaction levels drop by 14 percent and 80 percent of employees feel that leaders were concerned with the financial benefits at the expense of people. Research on mergers and acquisitions over the last 20 years were predominantly conducted using quantitative research methods with a focus on finance, accounting and economics. The need to conduct more qualitative research methodologies have been expressed with a focus on people as oppose to financials and economic data. This study followed a qualitative, realism, interpretivist approach in order to understand and seek rich descriptions from various participants on their diverse acquisition experiences which tells a story of why talent may decide to stay or leave post an acquisition. Data was collected using predominantly semi-structured open ended interviews. Nine acquired employees from different acquisitions were interviewed, some of which resigned post their acquisition. A thematic analysis process was used to analyse the data. Conclusions were drawn from the themes and the relationships between them. The study confirmed what the literature says on mergers and acquisitions and people integration challenges. Corporate culture differences, HR due diligence, HR integration plans and the management of change are key drivers impacting employees’ decision to leave or stay post an acquisition. Corporate culture differences include, structural, process and procedure difference. HR due diligence include effective communication before and during an acquisition and HR integration plans refer to the initiatives acquirer firms implement to manage the integration process. The management of change include the acquirer firms’ ability to put robust change management plans in place and the personal coping mechanisms acquired employees adopt to manage the change. The study concluded that the factors that impacted employees’ decision to stay or leave after an acquisition varied. Of the main factors included the inability to cope with... , M.Phil. (Management)
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- Authors: Retief, Lance Andre
- Date: 2018
- Subjects: Consolidation and merger of corporations , Employee retention , Corporate culture , Business communication , Organizational change - Management
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/271946 , uj:28933
- Description: Abstract: Ninety percent of high tech mergers and acquisitions fail to deliver the expected increases. Talent retention, communication and integration of corporate cultures are of the major people challenges experienced in mergers and acquisitions. The failure to retain key talented staff and the successful integration of corporate cultures often cause productivity levels to drop to as low as 50 percent, employee satisfaction levels drop by 14 percent and 80 percent of employees feel that leaders were concerned with the financial benefits at the expense of people. Research on mergers and acquisitions over the last 20 years were predominantly conducted using quantitative research methods with a focus on finance, accounting and economics. The need to conduct more qualitative research methodologies have been expressed with a focus on people as oppose to financials and economic data. This study followed a qualitative, realism, interpretivist approach in order to understand and seek rich descriptions from various participants on their diverse acquisition experiences which tells a story of why talent may decide to stay or leave post an acquisition. Data was collected using predominantly semi-structured open ended interviews. Nine acquired employees from different acquisitions were interviewed, some of which resigned post their acquisition. A thematic analysis process was used to analyse the data. Conclusions were drawn from the themes and the relationships between them. The study confirmed what the literature says on mergers and acquisitions and people integration challenges. Corporate culture differences, HR due diligence, HR integration plans and the management of change are key drivers impacting employees’ decision to leave or stay post an acquisition. Corporate culture differences include, structural, process and procedure difference. HR due diligence include effective communication before and during an acquisition and HR integration plans refer to the initiatives acquirer firms implement to manage the integration process. The management of change include the acquirer firms’ ability to put robust change management plans in place and the personal coping mechanisms acquired employees adopt to manage the change. The study concluded that the factors that impacted employees’ decision to stay or leave after an acquisition varied. Of the main factors included the inability to cope with... , M.Phil. (Management)
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A case study evaluation of the effectiveness of the supply conditions on the foreclosure as a result of vertical mergers
- Authors: Mahlangu, Themba
- Date: 2019
- Subjects: Consolidation and merger of corporations , Foreclosure
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/296311 , uj:32282
- Description: M.Com. (Development Economics) , Abstract: This paper uses a difference in difference model to assess the effectiveness of supply conditions as remedies for significant input foreclosure concerns resulting from anti-competitive vertical mergers. The paper reviews supply conditions imposed by the South African Competition Authorities as remedies for input foreclosure concerns in the following vertical mergers, namely: Thaba Chueu merger and Senmin International merger. The results of the model shows that the effectiveness of the supply conditions as remedies for input foreclosure concerns depends mainly on upstream market dynamics. The finding of the paper suggest that supply conditions would be effective in alleviating input foreclosure concerns resulting from vertical merger if the following conditions are met, namely: the upstream competitor(s) of the merger firm has capacity to supply the downstream non-integrated firm; if there is potential and/or imminent entry into the input market (upstream market); and if downstream competitors of the merged entity can within a reasonable time find and be able to procure alternative identical inputs from the alternative supplier without incurring significant switching costs, that is, the ability of downstream competitors to realign their purchase partners within the reasonable time frames. The paper concludes and recommends that Competition Authorities should consider the presence of these conditions in trying to remedy input foreclosure concerns resulting from vertical mergers through long term supply conditions. Furthermore and equally important is that in drafting these supply agreements as effectively remedy the input foreclosure concerns, the agreements must be written in a manner that there are complete, that is, they do not result in opportunism or hold-ups. This include, amongst others, a clear product specification, required quality, and clear pricing methodology to be applied if necessary.
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- Authors: Mahlangu, Themba
- Date: 2019
- Subjects: Consolidation and merger of corporations , Foreclosure
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/296311 , uj:32282
- Description: M.Com. (Development Economics) , Abstract: This paper uses a difference in difference model to assess the effectiveness of supply conditions as remedies for significant input foreclosure concerns resulting from anti-competitive vertical mergers. The paper reviews supply conditions imposed by the South African Competition Authorities as remedies for input foreclosure concerns in the following vertical mergers, namely: Thaba Chueu merger and Senmin International merger. The results of the model shows that the effectiveness of the supply conditions as remedies for input foreclosure concerns depends mainly on upstream market dynamics. The finding of the paper suggest that supply conditions would be effective in alleviating input foreclosure concerns resulting from vertical merger if the following conditions are met, namely: the upstream competitor(s) of the merger firm has capacity to supply the downstream non-integrated firm; if there is potential and/or imminent entry into the input market (upstream market); and if downstream competitors of the merged entity can within a reasonable time find and be able to procure alternative identical inputs from the alternative supplier without incurring significant switching costs, that is, the ability of downstream competitors to realign their purchase partners within the reasonable time frames. The paper concludes and recommends that Competition Authorities should consider the presence of these conditions in trying to remedy input foreclosure concerns resulting from vertical mergers through long term supply conditions. Furthermore and equally important is that in drafting these supply agreements as effectively remedy the input foreclosure concerns, the agreements must be written in a manner that there are complete, that is, they do not result in opportunism or hold-ups. This include, amongst others, a clear product specification, required quality, and clear pricing methodology to be applied if necessary.
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Appreciative merger and acquisition team coaching programme to facilitate managers' mental health in a cross-cultural context
- Authors: Visagie, Retha Gertruida
- Date: 2011-10-11T07:52:41Z
- Subjects: Consolidation and merger of corporations , Multiculturalism , Executives' mental health , Industrial psychiatry , Training of teams in the workplace
- Type: Thesis (D.Cur)
- Identifier: uj:7240 , http://hdl.handle.net/10210/3894
- Description: D.Cur.(Psychiatric Nursing Science) , One overarching research aim guided me in this research, namely to generate a worthy Appreciative Merger & Acquisition (M&A) team coaching programme to facilitate managers’ mental health in the context of a cross-cultural M&A. The context represented a hotel in Swaziland, which was situated in a Southern African hospitality environment. A variety of stories reflecting the paradoxical, alienating nature of M&As impelled me to enter the research context. At the same time, research and literature confirmed a preference for organisational change strategies that depart from a deficit orientation. These change strategies presuppose that something is broken in the organisational context, which needs to be repaired. Inherent power-driven organisational change processes are often employed as a strategy to try and repair the identified organisational brokenness. It was, therefore, from a position of curiosity regarding the cross-cultural M&A experiences of managers in the particular hospitality environment, as well as interest in positive organisational change initiatives, that I have gone on this journey. Positive organisational change initiatives celebrate the life-giving stories of organisational life. It departs from the assumption that something in an organisation does work. On entry, I hoped that the context would lend itself to implementing an existing M&A team coaching programme. Additionally, that the stakeholders involved would allow the transfer of such a programme in order to establish its worth while contributing to the advancement of theory in the field of business coaching. Two central research questions were asked. These questions related to the existence of an M&A team coaching programme that lacked scientific credibility at the time, as well as literature that confirmed the detrimental influence of mismanaged cross-cultural M&A implementation processes driven from a deficit orientation on the mental health of managers. • Can an M&A team coaching programme to facilitate managers’ mental health for sustained performance be applied to a cross-cultural M&A in a Southern African hospitality environment? • If the programme is applicable, how can it be refined, implemented and valuated as a foundation to generate a worthy Appreciative M&A team coaching programme to facilitate managers’ mental health for sustained performance in a Southern African hospitality environment?
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- Authors: Visagie, Retha Gertruida
- Date: 2011-10-11T07:52:41Z
- Subjects: Consolidation and merger of corporations , Multiculturalism , Executives' mental health , Industrial psychiatry , Training of teams in the workplace
- Type: Thesis (D.Cur)
- Identifier: uj:7240 , http://hdl.handle.net/10210/3894
- Description: D.Cur.(Psychiatric Nursing Science) , One overarching research aim guided me in this research, namely to generate a worthy Appreciative Merger & Acquisition (M&A) team coaching programme to facilitate managers’ mental health in the context of a cross-cultural M&A. The context represented a hotel in Swaziland, which was situated in a Southern African hospitality environment. A variety of stories reflecting the paradoxical, alienating nature of M&As impelled me to enter the research context. At the same time, research and literature confirmed a preference for organisational change strategies that depart from a deficit orientation. These change strategies presuppose that something is broken in the organisational context, which needs to be repaired. Inherent power-driven organisational change processes are often employed as a strategy to try and repair the identified organisational brokenness. It was, therefore, from a position of curiosity regarding the cross-cultural M&A experiences of managers in the particular hospitality environment, as well as interest in positive organisational change initiatives, that I have gone on this journey. Positive organisational change initiatives celebrate the life-giving stories of organisational life. It departs from the assumption that something in an organisation does work. On entry, I hoped that the context would lend itself to implementing an existing M&A team coaching programme. Additionally, that the stakeholders involved would allow the transfer of such a programme in order to establish its worth while contributing to the advancement of theory in the field of business coaching. Two central research questions were asked. These questions related to the existence of an M&A team coaching programme that lacked scientific credibility at the time, as well as literature that confirmed the detrimental influence of mismanaged cross-cultural M&A implementation processes driven from a deficit orientation on the mental health of managers. • Can an M&A team coaching programme to facilitate managers’ mental health for sustained performance be applied to a cross-cultural M&A in a Southern African hospitality environment? • If the programme is applicable, how can it be refined, implemented and valuated as a foundation to generate a worthy Appreciative M&A team coaching programme to facilitate managers’ mental health for sustained performance in a Southern African hospitality environment?
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Organisational citizenship and the post-acquisition of a global hotel brand
- Authors: Fisher, Wayne
- Date: 2018
- Subjects: Strategic planning , Hotel management , Consolidation and merger of corporations
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/402855 , uj:33732
- Description: Abstract : The purpose of this study was to examine the power of organisational support, brand satisfaction and brand trust on the organisational citizenship for employees in the post-acquisition integration of a global hotel brand. This was conducted through theoretical and empirical objectives. The development of a conceptual model framework paved the way for the postulation of five hypotheses. To put the proposed research model and hypotheses to the test, data was collected in South Africa, in particular, a hotel group that was newly acquired, with hotels spreading through sub- Saharan Africa. This study used quantitative research methodology. A data collection tool was used to be able to measure data on a scale with a numerical value that was then subdivided into the various elements of the surveying measuring instrument. Descriptive statistics was used to measure and determine the strength of the relationship between the dependent variables and the independent variables to test the developed hypotheses in question. The total usable sample size was 235. As consequence, the findings of this research indicate that organisational support can have a strong influence on brand trust and brand satisfaction but only indicates that organisational citizenship is influenced by organisational support via brand satisfaction and not directly, nor via brand trust. Managerial implications of this research are discussed with limitations and future research advised. This research contributes new knowledge to the body of strategic management literature in Africa. , M.Com. (Strategic Management)
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- Authors: Fisher, Wayne
- Date: 2018
- Subjects: Strategic planning , Hotel management , Consolidation and merger of corporations
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/402855 , uj:33732
- Description: Abstract : The purpose of this study was to examine the power of organisational support, brand satisfaction and brand trust on the organisational citizenship for employees in the post-acquisition integration of a global hotel brand. This was conducted through theoretical and empirical objectives. The development of a conceptual model framework paved the way for the postulation of five hypotheses. To put the proposed research model and hypotheses to the test, data was collected in South Africa, in particular, a hotel group that was newly acquired, with hotels spreading through sub- Saharan Africa. This study used quantitative research methodology. A data collection tool was used to be able to measure data on a scale with a numerical value that was then subdivided into the various elements of the surveying measuring instrument. Descriptive statistics was used to measure and determine the strength of the relationship between the dependent variables and the independent variables to test the developed hypotheses in question. The total usable sample size was 235. As consequence, the findings of this research indicate that organisational support can have a strong influence on brand trust and brand satisfaction but only indicates that organisational citizenship is influenced by organisational support via brand satisfaction and not directly, nor via brand trust. Managerial implications of this research are discussed with limitations and future research advised. This research contributes new knowledge to the body of strategic management literature in Africa. , M.Com. (Strategic Management)
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Post-merger performance of South African companies listed on the JSE LTD
- Authors: Mulaudzi, Given Tshifhiwa
- Date: 2020
- Subjects: Consolidation and merger of corporations , Organizational change
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/456670 , uj:40462
- Description: Abstract: Mergers and acquisitions (M&A) have formed an important part of growth strategies for profit- seeking businesses over the years and the question of whether M&As have actually created or destroyed value has continuously been debated. A large body of research has investigated M&As and their resultant performance, however, there are still conflicting views on how to measure such performance. This study investigated the post-merger performance of companies listed on the Johannesburg Stock Exchange (JSE) with the primary goal of investigating whether an M&A transaction led to a change in corporate financial performance of the acquiring or newly merged company. It is widely accepted that investors approve M&A transactions if, and only if, the transaction is likely to yield positive returns. This study applied an accounting-based approach to measure pre- and post-merger performance. The accounting data before and after an M&A transaction was compared to identify any changes in corporate financial performance. The accounting ratios applied were operating profit margin, return on assets, return on equity and the return on capital. These ratios were then supported by economic value added (EVA®) to measure post- merger performance. The variables applied indicated no statistical evidence of post-merger corporate changes in financial performance. The same results were found when applying the accounting variables at an industry level. However, the EVA® for the property and asset management industry indicated a significant decrease in corporate financial performance. It was therefore concluded that the sample of companies that had entered into an M&A transaction did not experience any significant change in corporate financial performance. , M.Com. (Finance)
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- Authors: Mulaudzi, Given Tshifhiwa
- Date: 2020
- Subjects: Consolidation and merger of corporations , Organizational change
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/456670 , uj:40462
- Description: Abstract: Mergers and acquisitions (M&A) have formed an important part of growth strategies for profit- seeking businesses over the years and the question of whether M&As have actually created or destroyed value has continuously been debated. A large body of research has investigated M&As and their resultant performance, however, there are still conflicting views on how to measure such performance. This study investigated the post-merger performance of companies listed on the Johannesburg Stock Exchange (JSE) with the primary goal of investigating whether an M&A transaction led to a change in corporate financial performance of the acquiring or newly merged company. It is widely accepted that investors approve M&A transactions if, and only if, the transaction is likely to yield positive returns. This study applied an accounting-based approach to measure pre- and post-merger performance. The accounting data before and after an M&A transaction was compared to identify any changes in corporate financial performance. The accounting ratios applied were operating profit margin, return on assets, return on equity and the return on capital. These ratios were then supported by economic value added (EVA®) to measure post- merger performance. The variables applied indicated no statistical evidence of post-merger corporate changes in financial performance. The same results were found when applying the accounting variables at an industry level. However, the EVA® for the property and asset management industry indicated a significant decrease in corporate financial performance. It was therefore concluded that the sample of companies that had entered into an M&A transaction did not experience any significant change in corporate financial performance. , M.Com. (Finance)
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