Going through a merger? Compromise is key
During mergers, don’t forget to consider how two corporate cultures will mesh. Save some stress by taking these precautions.
A merger or acquisition between companies is similar to a marriage. When it works, it thrives and flourishes, but when it doesn’t it becomes a nightmare.
Just as a couple has to focus on communication and compromise to keep their marriage strong, merging companies must do the same.
As Tim Donnelly says in a recent Inc. article, “Many of the problems [during a merger] come from the sometimes-awkward mash-up of two distinct corporate cultures—a relationship that experts say is like the first day of high school or a new marriage, because you have no choice but to navigate the unfamiliar situation.”
If executives don’t invest time and effort to ensure a smooth blending of cultures, the merger can end up having a negative impact on the bottom line.
Here are three ways to prevent your next merger from ending in a split:
1. Do your due diligence
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