Understanding mergers and acquisitions (M&As) from a program management perspective

Abstract

Purpose

The purpose of this paper is to demonstrate how the practice of program management can be used to manage strategically‐oriented initiatives such as mergers and acquisitions (M&As).

Design/methodology/approach

The methodology applied is high‐level reflective retrospective qualitative field research conducted by a practitioner‐scholar in response to the research question: How does the program management approach applied to a small‐scale acquisition compare to the current joint bodies of program management and M&A theory and practice?

Findings

The practice of program management provides a means for managing strategically oriented initiatives such as small‐scale acquisitions.

Research limitations/implications

This paper is constrained by a high‐level literature review of English language publications only, and high‐level reflective retrospective qualitative field research conducted by a single practitioner‐scholar upon a single relatively small‐scale acquisition, which cannot necessarily be scaled up to be representative of a larger‐scale acquisition, nor given the differences between M&As be used as a direct template for other M&As. Also, as a purely qualitative field research study into an area of intermediate maturity, the response to the research question lacks statistical support.

Practical implications

M&As are increasing in frequency and yet continue to have relatively high‐failure rates. Based on the findings of this paper, the practice of program management provides a means of managing strategic initiatives such as acquisitions.

Originality/value

This paper adds to the bodies of program management and M&A literature, from the dual perspectives of practice and research, particularly with reference to small acquisitions and acquisitions in the small and medium enterprise sector.

Citation

Nogeste, K. (2010), "Understanding mergers and acquisitions (M&As) from a program management perspective", International Journal of Managing Projects in Business, Vol. 3 No. 1, pp. 111-138. https://doi.org/10.1108/17538371011014053