Search results

Despite the recent slow down in overall activity, acquisitions continue to be a popular growth strategy used by firms competing in a globally competitive marketplace (Duck, Sirower & Dumas, 2002). At the same time, acquisitions are more of a complex phenomenon than ever in that the conditions under which they enhance or destroy firm value still remain unclear despite the wealth of acquisition studies in finance and management. In fact, recent studies by several major consulting and advisory services firms provide evidence that at a minimum one-third to one-half of these deals fail to achieve anticipated benefits, cost savings and other outcomes (KPMG, 1999; Mergerstat, 2000; PricewaterhouseCoopers, 2000). Even more alarming, the latest reports released by Booz Allen and Hamilton (2001) and BusinessWeek (Henry, 2002) indicate that this “failure” to deliver announced benefits and improvements in shareholder wealth increases to over 60% when examining large M&As which typically bring together two firms that not only compete in similar product or market domains but also have comparable size positions. Thus, the question lingers…What distinguishes those acquisitions that are successful in meeting intended goals and performance improvements from those that are not successful?

This paper is an empirical study of the organisational approaches used for integration of management systems (MSs) and the comparative effectiveness of such approaches.

Research employed four case studies. Results are derived from the analysis of triangulated evidence obtained from in‐depth interviews, observations, internal documents analysis, archives, and short questionnaires.

Results identified two archetypes of integration strategies termed “systems approach” and “techno‐centric approach”. Maximum benefits are achieved by using a systems approach to integration of MSs, while using the techno‐centric approach leads to benefits mainly at the operational level.

This research is qualitative and, as such, does not investigate the integration of MSs across a large number of organisations. The research does not investigate the causality between strategies employed for integration and their outcomes.

There is little empirical research to date on the strategies employed for integration of MSs and their effectiveness. This research contributes to both literature and practice by demonstrating that a systems approach gives rise to greater integration throughout various organisational levels and greater benefits as compared to other approaches.

This paper explores what differentiates success from failure in post-acquisition integration. It seeks to overcome some of the limitations of previous research by adopting a more holistic and dynamic examination of the process and by focusing on aspects that can be readily applied in practice. Four cases of mergers and acquisitions (M&A) in the global automobile industry are examined using secondary data and taking a grounded theory approach. The four cases comprise two pairs of successes and two pairs of failures. Two of the pairs comprise established multinational companies, while two others comprise emerging multinational companies’ acquisitions of Korean automakers; in each case, there was one successful M&A and one failure. It is inducted that what differentiates the successful cases from the failures is their different approaches to two common tensions in post-acquisition integration, namely, their approaches to integration strategy and people issues. A two-level framework is proposed in which post-integration is managed simultaneously and dynamically at the strategic and people levels. These inductive findings, if verified by a more broadly based empirical examination, will extend M&A theory by providing a more integrated and dynamic approach to post-acquisition integration, in which strategic and people perspectives are jointly taken into account and interact with each other, thereby creating value for both acquiring and acquired firms.

In the last decades, various building information modeling–life cycle assessment (BIM-LCA) integration approaches have been developed to assess the environmental impact of the built asset. However, there is a lack of consensus on the optimal BIM-LCA integration approach that provides the most accurate and efficient assessment outcomes. To compare and determine their accuracy and efficiency, this study aimed to investigate four typical BIM-LCA integration solutions, namely, conventional, parametric modeling, plug-in and industry foundation classes (IFC)-based integration.

The four integration approaches were developed and applied using the same building project. A quantitative technique for evaluating the accuracy and efficiency of BIM-LCA integration solutions was used. Four indicators for assessing the performance of BIM-LCA integration were (1) validity of LCA results, (2) accuracy of bill-of-quantity (BOQ) extraction, (3) time for developing life cycle inventories (i.e. developing time) and (4) time for calculating LCA results (i.e. calculation time).

The results show that the plug-in-based approach outperforms others in developing and calculation time, while the conventional one could derive the most accuracy in BOQ extraction and result validity. The parametric modeling approach outperforms the IFC-based method regarding BOQ extraction, developing time and calculation time. Despite this, the IFC-based approach produces LCA outcomes with approximately 1% error, proving its validity.

This paper forms one of the first studies that employ a quantitative and objective method to determine the performance of four typical BIM-LCA integration solutions and reveal the trade-offs between the accuracy and efficiency of the integration approaches. The findings provide practical references for LCA practitioners to select appropriate BIM-LCA integration approaches for evaluating the environmental impact of the built asset during the design phase.

To analyse how differences in decision‐making affected the integration of the R&D functions after Ford's acquisition of Volvo Cars.

The analysis is carried out in two steps. Step one analyses which type of approach Ford employed to integrate Volvo into the company. Step two analyses how R&D decisions are made by both firms and the consequences of found differences in decision‐making on the success of the integration process.

Ford's approach to the integration of Volvo Cars follows a symbiosis approach, combining a high need of both organizational autonomy and strategic interdependence. A symbiosis acquisition integration approach demands that the decision‐making processes are given special attention. The acquired firm's specific decision‐making processes need to remain intact in order to preserve its embedded unique R&D value creation capabilities. The decision‐making processes should be kept separate in order to prevent disruption.

The paper relates theories about firm acquisition processes and aspects of organization theory to establish a bridge between these research areas.

The purpose of this paper is to explore and characterize knowledge integration approaches for integrating external knowledge of suppliers into new product development projects.

This paper is based on a multiple, in-depth case study of six product development projects at three knowledge-intensive manufacturing firms.

Firms make purposeful choices to devise knowledge integration approaches when working in collaborative buyer – supplier projects. The knowledge characteristics of the supplier input guide the choice of either coupling knowledge sharing and combining across firms or decoupling knowledge sharing (across firms) and knowledge combining (within firms).

This study relies on a limited number of case studies and considers only one supplier relationship in each project. Further studies could examine the challenge of knowledge integration in buyer – supplier relationships in different contexts, i.e. in relation to innovation complexity and uncertainty.

Managers need to make choices when designing knowledge integration approaches in collaborative product development projects. The use of coupled and decoupled approaches can help balance requirements in terms of joint problem-solving across firms, the efficiency of knowledge integration and the risks of knowledge leakage.

The conceptualization of knowledge integration as knowledge sharing and knowledge combining extends existing perspectives on knowledge integration as either a transfer of knowledge or as revealing the presence of pertinent knowledge without entirely transmitting it. The findings point to the complexity of knowledge integration as a process influenced by knowledge characteristics, perspectives on knowledge, openness of firm boundaries and elements of knowledge sharing and combining.

The purpose of this paper is to study how the expression “integrated management systems” is interpreted in literature, what it means to have an integrated management system (IMS) and what the results of this are.

A literature review was conducted based on Scopus using the search term “Integrated Management Systems.” In the chosen articles, effects of integration, scope, level and extent of integration and if the approach is inside-out or outside-in, have been analyzed.

Most articles on IMS conclude that integration is beneficial regarding cost saving, operational benefits and improved customer satisfaction. The general approach in the articles, describes an inside-out approach with focus on integrating existing management standards. The scope of integration covers typically management systems for quality, environment and occupational health and safety.

An IMS is found to be a system that integrates existing management standards based on an inside-out approach. This indicates possibilities for both practical improvement and research in exploring how integrated stakeholder needs could be managed, possibly as process-based IMSs.

This paper sheds light on the ambiguous interpretation of the IMS concept.

In the past few years, management systems implementation and certification has become a common practice among different types of organizations. In this context, quality management systems certification, according to the ISO 9001 standard is in the spotlight, due to over than 1.000.000 certified organizations by the end of 2009. Quality management systems can be integrated with an increasing variety of other subsystems implemented according to other standards, including environmental systems, health and safety, social responsibility, R&D, risk, or human resources, and subsystems raised from specific standards designed for specific activity sectors (HACCP, automotive or aeronautics, medical devices, pharmaceuticals and software). Due to this evolution, careful attention should be taken on how these different subsystems have been and should be articulated, harmonized and integrated. Thus, this paper intends to approach different strategies to achieve integration, with several levels of intensity, depth and authenticity between the different subsystems, and report some final recommendations related with good practices assuring the efficiency and effectiveness of the integration process.

A case study methodology has supported this research. Three case studies were conducted on Portuguese companies that have an integrated quality, environmental and safety management system.

If the companies' strategy is to implement more than one management system, there is a clear advantage of doing it supported on an integrated approach, avoiding the development of organizational “islands” related to each subsystem. This organizational “archipelago” structure is completely far way from any global optimized solution, based on a holistic perspective.

Based on the conclusions that we were able to find out, this paper is an important contribution to the integrated management systems research area, because it states different integration approaches and levels of integration and what are the features that characterize each one of those approaches and levels.

Management researchers and practitioners point out that integration processes during the post-merger integration period are critical to synergistic effects and performance of the merged companies over time. However, the relation between the post-merger integration process, synergy potential exploitation, and its influence on M&A deal success, especially in the case of international M&A, is not clear. Moreover, the results of empirical studies are inconsistent and even contradictory. This chapter adds to the existing body of knowledge by developing a model, based on the analysis of the acquisition by Teva Pharmaceuticals of the Hungarian Biogal and of the Dutch Pharmachemie. The model addresses the key factors such as the effect of corporate culture differences, and synergy potential between the acquiring and acquired firms on the international M&A performance.

The purpose of this paper is to consider the position of education for sustainable development in the UK Higher Education (HE) sector with respect to the Quality Assurance Agency (QAA) and Higher Education Academy (HEA) Guidance for education for sustainable development (ESD).

By means of a mixed-method approach underpinned by a concurrent triangulation design strategy, this research presents evidence from an online questionnaire survey and in-depth semi-structured interviews.

Insights are presented from case studies of a group of UK Higher Education Institute (HEIs) which have made significant progress in embedding ESD in the curricula.

Central to this study is an exploration of the ESD integration process of this group including a description of the approaches to integration, the challenges faced and overcome and the critical success factors. It examines the role of a guidance instrument in simplifying and accelerating the ESD curricular integration process. The results of the study show that there is a multitude of integration approaches applied varying in their emphasis.

The main challenge HEIs face is engaging staff that may question the relevance of the ESD concept, and that lack an understanding regarding its implications for their discipline. Critical success factors identified are institution-wide people support, high-level institutional support and funding. The QAA and HEA guidance has successfully supported HEIs in developing their ESD commitments.

The results of this research can support HEIs in developing their own approach to ESD, as they learn from similar UK HE providers, particularly with respect to overcoming barriers and enhancing critical success factors to ESD curricular integration.