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M&A success and synergies are regularly discussed in the practical literature, but synergies are typically treated as a static concept (how do you get them?) with little discussion of financial bet acquirers create in paying an up-front premium. We describe the importance of investor reactions, the nature of the challenge, and discuss synergies as a process with five rules of the road covering M&A strategy, diligence, culture, leakage, and validation and reporting. Potential acquirers must be better prepared before they commit these major capital investments, involving multiple stakeholders throughout the process of creating the value they are promising with M&A.

We report the important results of our 24-year study on acquirer performance, the persistence of investor reactions, and the role of the acquisition premium to support our position that synergies must be trackable and defendable before and after deal announcement. From our collective author experience of advising on many hundreds of synergy programs over the years, we distilled our experience based on the common lack of understanding of what is required by executives, and when, and what we have seen greatly improve the odds of success in achieving sufficient M&A synergies.

Major findings include: 1. Initial market reactions are good predictors of the future, most deals persist, positive or negative, and there is a big spread of returns between winners and losers with losers paying the highest premiums; 2. Premiums additions to target’s growth value and may require larger performance increases than acquirers expect; 3. Synergies are a dynamic process involving multiple stakeholders from becoming a prepared acquirer in M&A strategy, building an early synergy roadmap during diligence, understanding that culture and change issues launch at announcement and preparation must begin long before, anticipating leakage, and validating and reporting post-close.

Our study is original covering three waves of mergers over 24 years; we formalize the synergy challenge created by paying a premium with respect to the already existing growth expectations for the target; we make clear that ultimately validating synergies begins with M&A strategy and diligence through to the workings of an Integration Management Office, anticipating synergy leakage, and preparing employees for change.

Looks at the 2000 Employment Research Unit Annual Conference held at the University of Cardiff in Wales on 6/7 September 2000. Spotlights the 76 or so presentations within and shows that these are in many, differing, areas across management research from: retail finance; precarious jobs and decisions; methodological lessons from feminism; call centre experience and disability discrimination. These and all points east and west are covered and laid out in a simple, abstract style, including, where applicable, references, endnotes and bibliography in an easy‐to‐follow manner. Summarizes each paper and also gives conclusions where needed, in a comfortable modern format.

Industry platforms can alter relations among exchange partners in such a way that the industry structure is changed. The focus of much industry platform research has been on how platform creation and leadership offers advantages to the most central firms, but platforms can also be advantageous for small specialist firms that compete with the most central firms. We examine book publishing as an example of an industry in which the central players – large publishing firms – are losing power to self-publishing authors because the distributor Amazon has a powerful platform for customers to communicate independently, and the non-publishing platform Twitter also serves as a medium for readers to discuss and review books. Our empirical analysis is based on downloaded sales statistics for Amazon Ebooks, matched with Amazon reviews of the same books and tweets that refer to the book or the author. We analyze how Ebook sales are a function of publisher, Amazon reviews, and tweets, and we are able to assess the importance of each factor in the sale of book titles. The main finding is that Amazon reviews are powerful drivers of book sales, and have greater effect on the sales of books that are not backed by publishers. Twitter also affects book sales, but less strongly than Amazon reviews.

The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online information and documentation work. They fall into the following categories:

The purpose of this paper is to investigate Chris Argyris's ideas from an Islamic perspective.

The main approach is a literature review combined with an analysis based on Islamic principles. At the end, there is a short case study that demonstrates the possible application for practitioners.

Chris Argyris's work touches on a fundamental point: the lack of congruence between espoused values and theories‐in‐use. Such incongruence is amplified by the existence of organizational defense routines. From an Islamic perspective, such an incongruence is very problematic. The paper discusses two mechanisms in the Islamic tradition – sincerity to others and mutual consultation – to overcome this problem. The case study also suggests that more modern techniques can be useful as well. The implications for management education are discussed.

It is proposed that the points raised by Chris Argyris should be taken very seriously by all researchers. Generally, it is proposed that management education should concern itself more with the congruence between values and behaviour.

The case study demonstrates that there are techniques that can be used to overcome organizational defence routines.

This is the first time Argyris's ideas have been examined from an Islamic perspective.

This chapter contributes to drawing Melanesian ethnography out of the exoticizing interest for gift exchange and demand-sharing. Furthermore, it provides an analytical perspective from which it is possible to conceptualize the manipulation of gift and commodity logics as mutually compatible frameworks. Rather than seeing them as contradictory, this perspective enables the theorization of shared calculative agencies that are becoming increasingly common in contemporary Melanesia.

The chapter draws on 13 months of ethnographic fieldwork in Gilbert Camp, a peri-urban settlement on the outskirts of Honiara, Solomon Islands with a focus on the domestic moral economy of its inhabitants.

The people of Gilbert Camp are confronting a difficult economic and moral dilemma. On the one hand, they are at constant risk of financial failure because of their general conditions of scarcity. On the other, they face the prospect of disrupting some of their much-valued social relationships because such scarcity prevents them from fulfilling their cultural obligations. In order to avoid both risks, they make use of their financial competence and cultural creativity to set up strategies that save them money and preserve these relationships. Situated at the interface between kinship and market values, these strategies contribute to achieving the kind of ‘good’ life that they see as the correct balance between financial prosperity and morality.

Current negotiations over the meaning of buying, selling and taking are changing the values of contemporary sociality in Honiara, Port Vila, and other Melanesian cities. Tradestores simultaneously supply households with food and money, create a sense of sharing, and limit the demand-sharing and the taking of wantoks. Hence they create the conditions for the resolution of tensions over the incompatibility of values of kinship and market that confront the inhabitants of Melanesian cities. Household tradestores thus constitute a major site of these negotiations, and they provide a unique vantage point from which to look at the moral and economic processes that are leading to the future identity of urban Melanesia.