| Understanding and developing your culture and | | | | 4. Do not assume that your existing business has a |
| carefully understanding the culture of any business | | | | stronger culture than the other. There may be many |
| you merge with is essential for financial success. It is | | | | strengths in the other organization that could bring |
| the secret that the most successful business leaders | | | | great synergy benefits. Do not lose these during |
| understand. | | | | integration. Recognize that achieving one culture may |
| Here are some top tips if you are considering | | | | not easily be possible. However, an appreciation by |
| merging with another business: | | | | both parties of each others differences can be |
| 1. Plan a very well thought through integration | | | | helpful. |
| strategy. View Culture as an absolutely critical | | | | 5. Plan all communication carefully. Companies who are |
| component in the success of your merger. Cultural | | | | taken over may see themselves as about to be |
| differences and weaknesses have been the downfall | | | | asset stripped by the new owner. Great |
| for many mergers. Think of it like brain surgery. | | | | communication is essential. Plan every conversation |
| Would you want a brain surgeon to start making | | | | carefully. |
| incisions on you without careful planning? In a merger | | | | 6. Treat the staff of the new organization with great |
| you need to win over the brains and hearts of | | | | respect. Why not give them a ‘red carpet’ |
| people if you are going to succeed. Or at least | | | | introduction to your business. Make them feel special |
| minimize the damage. | | | | and welcome. Help them understand the benefits |
| 2. Undertake a cultural diagnostic survey of your | | | | that may ensue from the situation. Put out a red |
| existing business and the one you are merging or | | | | carpet, give gifts and make employees integrating |
| integrating with. This will enable you to see what you | | | | into the new business feel very welcome. This helps |
| are dealing with. There are effective tools and | | | | turn fear into energy. Some people may still lose their |
| methodologies to do this. Best do this when the staff | | | | jobs, however, it may well improve how they feel |
| know of the merger. | | | | and talk about you. |
| 3. Accept you may need to change your thinking - to | | | | 7. Be a great leader by committing to develop a high |
| change culture the leadership team almost always | | | | performing culture. That means putting people who |
| need to change their own behaviour first. Cultural | | | | ultimately deliver the revenue very high on the |
| change always begins with the leaders. | | | | priority list, during these periods of high change. |