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Article
Publication date: 11 August 2020

Wafa Said Mosleh and Henry Larsen

The purpose of this paper is to present researcher's reflexive writing about emergent events in research collaborations as a way of responding to the process-figurational…

Abstract

Purpose

The purpose of this paper is to present researcher's reflexive writing about emergent events in research collaborations as a way of responding to the process-figurational sociology of Norbert Elias in the practice of organizational ethnography.

Design/methodology/approach

Drawing parallels between Norbert Elias' figurative account of social life and auto-ethnographic methodology, this paper re-articulates the entanglement of social researchers in organizational ethnographic work. Auto-ethnographic narration is explored as means to inquire from within the emerging relational complexity constituted by organizational dynamics. Writing about emergent events in the research process becomes a way of inquiring into the social figurations between the involved stakeholders; thus nurturing sense-making and increasing the awareness and sensitivity of the researcher to her own entanglement with the relational complexity of the organization under study.

Findings

In the paper, we argue that the writing of auto-ethnographic narratives of emergent field encounters is a process of inquiry that continuously depicts the temporal development of the relational complexity in organizations. Viewing that from the perspective of Elias' concept of figuration, we find a common commitment to the processual nature of research processes, which insists on moving beyond objectifying empirical insights.

Originality/value

This paper encourages awareness of the interdependency between ourselves as social researchers and field actors as we engage with the field. It moves beyond simplifying the ethnographic research agenda to that of “studying” and “describing” organizations. It offers unique insights into the organizational context, and increased sensitivity toward the social entanglement of the experiences that we, ourselves, as researchers are part of.

Details

Qualitative Research in Organizations and Management: An International Journal, vol. 15 no. 4
Type: Research Article
ISSN: 1746-5648

Keywords

Content available
Article
Publication date: 13 June 2016

Mark Thomas

230

Abstract

Details

Strategic Direction, vol. 32 no. 6
Type: Research Article
ISSN: 0258-0543

Article
Publication date: 13 July 2023

Muriel Durand, Gregory Hansen and Mark Thomas

One of major concerns of serial acquirers is to ensure value creation. However, mergers and acquisitions (M&As) are well known for the key management problems they generate such…

174

Abstract

Purpose

One of major concerns of serial acquirers is to ensure value creation. However, mergers and acquisitions (M&As) are well known for the key management problems they generate such as change management, cultural clashes and increased managerial turnover. Despite this, M&As also offer opportunities for integrating best practices. This paper aims to demonstrate how Danaher attempts to cultivate employee engagement in companies it has recently acquired.

Design/methodology/approach

This paper adopts a single-case approach to show how Danaher implements its in-house method – the Danaher Business System – a management system during the take over and the postacquisition phase.

Findings

The findings from this paper demonstrate best practice management and strategies needed to ensure successful M&As. Almost 40 years after serial acquisitions, Danaher is cited as one of the most successful serial acquirers. Its human approach to takeovers has been a central part of this.

Originality/value

This paper offers a concise and clear outline of the management strategies used by Danaher to ensure successful acquisitions relying on Kaizen and LEAN with a strong focus on the human side. During the takeover and postacquisition integration, Danaher’s human approach would appear to be a key differentiating element.

Details

Strategic HR Review, vol. 22 no. 5
Type: Research Article
ISSN: 1475-4398

Keywords

Article
Publication date: 13 November 2020

Mathilde Béraud, Carole Drajac and Mark Thomas

As the pharmaceutical industry faces a more changing environment, talent management appears to be a key differentiating element. Key talent retention strategies must be assessed…

550

Abstract

Purpose

As the pharmaceutical industry faces a more changing environment, talent management appears to be a key differentiating element. Key talent retention strategies must be assessed during the mergers and acquisitions negotiations and implemented during post-acquisition integration. The purpose of this paper is to show how this can be done.

Design/methodology/approach

The paper adopts a single-case approach to show how talent can be managed during the post-acquisition phase after a takeover. Focussing on the acquisition of Genentech by Roche in 2009, it demonstrates how the Swiss pharmaceutical giant overcame a difficult initial start to the acquisition by adopting a nuanced talent management strategy.

Findings

The findings from this paper demonstrate best practice management and retention strategies needed to retain key talent. A decade after the acquisition, the Roche–Genentech tie-up is cited as one of the most successful in the life sciences industry. Roche’s talent management strategy has gained particular applause with Genentech consistently being named one of the best places to work (Wharton Work/Life, 2016). Investors are equally content. Sales of Genentech’s main products have tripled to $21bn since the acquisition.

Originality/value

This paper offers a concise and clear outline of the HR strategies used by Roche to ensure the successful integration of Genentech. During the takeover, talent management issues had the potential to be particularly acute given the highly independent DNA of Genentech’s organisation structure. As the pharmaceutical industry faces a more changing environment, efficient talent management appears to be a key differentiating element.

Details

Strategic HR Review, vol. 20 no. 1
Type: Research Article
ISSN: 1475-4398

Keywords

Article
Publication date: 11 April 2021

Margaux Bruneau de la Salle and Mark Thomas

One of major preoccupations of human resources (HR) in recent times has been the challenge of proving its value at the “top table.” Mergers and acquisitions (M&As) may offer one…

227

Abstract

Purpose

One of major preoccupations of human resources (HR) in recent times has been the challenge of proving its value at the “top table.” Mergers and acquisitions (M&As) may offer one potential solution to this problem. M&As are renowned for the key management problems they generate such as diminished employee engagement and morale and increased staff turnover. However, such challenges also offer opportunities. This paper aims to argue that the recent wave of acquisitions in the pharmaceutical industry present HR with the possibility to demonstrate its real strategic value.

Design/methodology/approach

This paper offers an insider–outsider approach to the role of HR in M&As in the pharmaceutical industry. Based on an in-depth study of Sanofi’s emerging M&A strategy, it gives key insights into the reasons for multiple acquisitions and how HR can have a positive impact on value creation.

Findings

The findings demonstrate that the repeated acquisitions of US-based biotech companies made by the French pharmaceutical group Sanofi over the past five years is more than just a coincidence. Rather, it is an unstated strategy to develop within this market. HR can aid senior management in overcoming some of the major cultural challenges, thus demonstrating its real strategic value.

Originality/value

This paper clearly shows how following a specific emerging international strategy of M&As can empower a company through its human resources.

Details

Strategic HR Review, vol. 20 no. 2
Type: Research Article
ISSN: 1475-4398

Keywords

Article
Publication date: 29 October 2020

Margaux Bruneau de la Salle and Mark Thomas

The biotechnology (biotech) and pharmaceutical (pharma) industries have a lot of similarities, particularly regarding their mission to provide lifesaving and life-improving drugs…

426

Abstract

Purpose

The biotechnology (biotech) and pharmaceutical (pharma) industries have a lot of similarities, particularly regarding their mission to provide lifesaving and life-improving drugs. However, there are some key distinctions between the two industries. It is these differences, however, that make that ideal partners and have resulted in a wave of mergers and acquisitions between the two industries.

Design/methodology/approach

This research paper offers an insider-outsider approach to the biotechnology and pharmaceutical industries. Based on an extensive review of the industries it offers key insights into the reasons for the multiple partnerships that have developed.

Findings

The findings demonstrate that the different stages of maturity of the business models of biotech and big pharma make them ideal partners. Both rely on the advantages of the other in their development, hence the wave on M&As between the two industries.

Originality/value

This article clearly shows how two firms or industries at different stages of maturity can be mutually beneficial. This has led to many acquisitions and mergers.

Details

Strategic Direction, vol. 36 no. 12
Type: Research Article
ISSN: 0258-0543

Keywords

Article
Publication date: 12 September 2016

Eva Zambelis and Mark Thomas

The aim of this paper is to see how NOT to manage an acquisition through the case study of one of the worst M&As in recent years: Emporiki Bank’s by Crédit Agricole. Although the…

151

Abstract

Purpose

The aim of this paper is to see how NOT to manage an acquisition through the case study of one of the worst M&As in recent years: Emporiki Bank’s by Crédit Agricole. Although the role of the banks is to manage risk, the acquisition of Emporiki by Crédit Agricole shows how easy it is, when ill prepared, to make one mistake after another and get trapped without a way out. It can even cause to take such desperate decisions as in this case sell an entire bank for one single euro.

Design/methodology/approach

General review.

Findings

The paper shows that being a very successful bank does not guarantee in any way good M&As, especially in an unknown market. Preparation, understanding of the whole situation and reactivity is key for a successful M&A. Without it, the consequences can be disastrous.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Details

Strategic Direction, vol. 32 no. 9
Type: Research Article
ISSN: 0258-0543

Keywords

Article
Publication date: 13 June 2016

Patrick Mazzariol and Mark Thomas

Academics and practitioners are in relative agreement on what drives a company’s fundamental value, primarily it’s current assets and future cash flows. The practice of paying a…

2080

Abstract

Purpose

Academics and practitioners are in relative agreement on what drives a company’s fundamental value, primarily it’s current assets and future cash flows. The practice of paying a premium may thus be due to the non-tangible factors associated with perceived value that currently are not incorporated into the assets of the company and the expected growth of the cash flows.

Design/methodology/approach

This paper looks at the most common theoretical models used in the calculation of the value of a firm. It then explains how human factors can cause divergence in the original price set.

Findings

Empirical evidence proves that the price paid for a company can easily reach 40-50 per cent above this calculation of the current value. Until valuation models can account for the factors that drive premium pricing, it is necessary to recognize that intangible and, in some cases, emotional aspects will have a great influence on the final price.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Details

Strategic Direction, vol. 32 no. 6
Type: Research Article
ISSN: 0258-0543

Keywords

Article
Publication date: 12 September 2016

Ying Xiao and Mark Thomas

The purpose of this article is to outline the reasons for the success of the Chinese HNA Group in the development of its international strategy.

1315

Abstract

Purpose

The purpose of this article is to outline the reasons for the success of the Chinese HNA Group in the development of its international strategy.

Design/methodology/approach

The article adopts a critical single case study method approach.

Findings

The HNA Group has been highly successful using cross-border merger and acquisitions (M&As) as a platform for growth. However, Chinese companies are facing more difficulties compared to their international competitors in cross border M&A deals and are paying a higher premium for that. Even HNA Group, a veteran player in the international capital market, may not be exempted from the skeptics toward China money.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Details

Strategic Direction, vol. 32 no. 9
Type: Research Article
ISSN: 0258-0543

Keywords

Article
Publication date: 13 June 2016

Pauline Studer and Mark Thomas

According to the Irish writer, Oscar Wilde, a second marriage is the “triumph of hope over experience”. Many mergers and acquisitions (M&As) could be cast in the same light. This…

596

Abstract

Purpose

According to the Irish writer, Oscar Wilde, a second marriage is the “triumph of hope over experience”. Many mergers and acquisitions (M&As) could be cast in the same light. This paper aims to outline four crucial questions senior managers should ask before embarking on a merger or acquisition.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Repeated studies have found that more than 50 per cent of M&As destroy rather than create value. Companies wishing to embark upon a merger or acquisition should thus think carefully before signing and ensure that they have made an impartial and critical analysis of the price, financing of the deal, complementarity and the cultural differences between the two organisations. If senior managers did this systematically before popping the question, the business world would certainly see less heartbreak.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organisations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Details

Strategic Direction, vol. 32 no. 6
Type: Research Article
ISSN: 0258-0543

Keywords

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