[雙語翻譯]企業(yè)并購外文翻譯--并購過程中變更的有效管理

1、3200 英文單詞， 英文單詞，17000 英文字符，中文 英文字符，中文 5300 字文獻出處： 文獻出處：Kansal S, Chandani A. Effective Management of Change During Merger and Acquisition [J]. Procedia Economics & Finance, 2014, 11(14):208-217.Effective Management o

2、f Change During Merger And AcquisitionSugandh Kansal, Arti ChandaniAbstractThe on-going dance of merger and acquisition happening every week is hard to miss. But it has been found that most mergers and acquisition fail b

3、ecause of poor handling of change management. Change is the only thing that will never change so let’s learn to adopt by change management. This paper will analyse all the factors that lead to change. The major reasons t

4、hat lead to change are system dynamics, structure-focused changed, person-focused change, and profitability issues. The resistance to change can be attributed to the lack of communication, no clear vision, no proper rewa

5、rd system, confusion and frustration, force of habit, fear of unknown, fear of insecurity, loss of competency and lack of support.It presents different model that can be used for change management and different theories

6、that can be used to handle change during M&A. It also highlights the strategies this can be followed by the leaders of the organization: Integration plan, Employee Involvement, Clear Vision, Customer Focus, HR struct

7、uring and Downsizing. The factors discussed are based on the empirical findings, case study and earlier papers. To, support that the change can be managed effectively and efficiently, the paper shows as to how change was

8、 managed in the merger of ICICI bank and Bank of Madura.Keywords: Acquisitions and Mergers, Change Management, Communication1. IntroductionIn mergers, two or more companies engage in some negotiation which ultimately lea

9、ds to transaction. Acquisition also involves two or more companies but in acquisition the bigger company swallows the smaller company. So merger and acquisition is the process of integrating two or more companies with di

10、fferent values, cultures and forces into one cohesive unit. From an economic point of view, there are 2 types of mergers: Horizontal mergers and Vertical mergers. Horizontal mergers involve companies with similar area of

11、 work e.g., Chevron and Texaco. Vertical mergers involve companies with diverse area of work e.g. AOL and Time Warner.The merger is not only seen from the financial perspectives but it is the union of two different compa

12、nies and two different cultures which is bound to bring some anomalies. It is very important that the concern departments should be actively involved in the process so that they under these difference and plan in an orde

13、rly manner for the smooth transition.During M&A, the leaders of both the companies face many challenges: cultural management, stress management, redundancies, HR restructuring, resistance to change, job insecurity, t

14、alent drainage, low motivation etc. All the aforementioned factors are responsible for change. KPMG has found that 80% of the mergers and acquisitions fail because of improper handling of change management. Below is the

15、list of few companies which failed miserably because of poor handling of the aforementioned reasons.As per data released by Grant Thornton, domestic acquisitions remain the mainstay of the acquisitive growth of many indu

16、stries but at the same time companies are less hesitant in making cross border acquisition. Some of the important regional highlights are below:North Americaproductivity and efficiency. Companies involved needs to be sen

17、sitive to the laws/policies of the acquired company and be proactive rather than reactive.●Person-focused change: This change is concerned with the human resource planning and enhancing employee competence and performanc

18、e. In order to induce such change human resource management needs to tackle issues of redefining organization goals and strategy, recruitment and selection policies, stress management, employee training and development,

19、benefits etc.●Profitability issues: It includes issues such as loss of revenue, market share, low productivity, engagement with processes of restructuring and reengineering lead to major changes in the organizational set

20、up.●Government Policies: This factor is very crucial when the M&A takes place between two cross border acquisition. The companies involved needs to be sensitive to the laws/policies of the acquired company and be pro

21、active rather than reactive.●Person-focused change: This change is concerned with the human resource planning and enhancing employee competence and performance. In order to induce such change human resource management ne

22、eds to tackle issues of redefining organization goals and strategy, recruitment and selection policies, stress management, employee training and development, benefits etc.So change is inevitable. So as a manager how you

23、interact with the employees and how you handle the aforementioned issues mean a lot for the success and failure of M&A.3.1.Resistance to ChangeDuring merger and acquisition, organisation faces the most abstruse and r

24、ecalcitrant problem: resistance to change.3.2.Lack of CommunicationThe manager has not communicated well the detailed aspects of the change. People may only understand the change in broad terms and not in practical terms

25、. Employee does not know how they should go about for change and are not convinced about the purpose of change.3.3.Confusion and FrustrationToo many parties involved in the change without a clear definition of their role

26、s will bring confusion and frustration.3.4.Force of habitFeeling of comfort in the existing routines and not interested in changing the existing ways of doing things3.5.Lack of confident in the managementIt is also a pre

27、dominant reason for the people to accept change. They are not sure that once change has taken place, things will become better for them.3.6.Fear of insecurityPeople are worried about the potential role he/she will be off

28、ered.3.7.Fear of unknownIt is because of uncertainty about the nature of change. They are not sure what is happening and what future holds for them.3.8.Loss of CompetencyExisting skills and the competencies the person po