2. Performance Management after Mergers and Acquisitions from a literature review
Mergers & Acquisitions are a high-risk return game. Even as Merger & Acquisition activity in Greece in manufacturing companies recently reached a significant increase there is not a clear evidence that these deals create value for the new company. Authors highlight the importance of approaching the implementation of performance management from a change management perspective [17, 18, 19]. In this sense, factors such as the following are crucial for an effective strategic performance management implementation for high technology companies.
Top manager agreement, commitment and leadership - start with a clear agreement at the top on the strategy, goals, measures and the performance targets to be implemented . In all these the importance of the high technology in the new business should be included.
Managers’ participation and accountability - having the agreement, commitment and leadership at the top is insufficient if it does not go along with having the agreement, commitment and leadership of the rest of the management team. Furthermore, the involvement of employees who are responsible for the knowhow of the company’s advantages is also crucial. Inviting managers and employees to assist on the development of the system facilitates their buy-in, and enhances their trust, understanding, and ownership of the performance measures. It is also important to involve the Human Resources and the Information System functions. It is essential that managers become accountable for the performance being managed, as will be the key roles for the passing of competitive advantage of the high tech in the new organization.
Training and education - employees at all levels need to learn the principles of the system, its measures, tools and procedures, [18]. Individuals can distort the information system by smoothing, biasing, focusing, gaming, filtering, "illegal” acts so it is important to train and educate individuals on how to engage rather than bypass the causes of dysfunctional behaviors.
2. Performance Management after Mergers and Acquisitions from a literature review
Mergers & Acquisitions are a high-risk return game. Even as Merger & Acquisition activity in Greece in manufacturing companies recently reached a significant increase there is not a clear evidence that these deals create value for the new company. Authors highlight the importance of approaching the implementation of performance management from a change management perspective [17, 18, 19]. In this sense, factors such as the following are crucial for an effective strategic performance management implementation for high technology companies.
Top manager agreement, commitment and leadership - start with a clear agreement at the top on the strategy, goals, measures and the performance targets to be implemented . In all these the importance of the high technology in the new business should be included.
Managers’ participation and accountability - having the agreement, commitment and leadership at the top is insufficient if it does not go along with having the agreement, commitment and leadership of the rest of the management team. Furthermore, the involvement of employees who are responsible for the knowhow of the company’s advantages is also crucial. Inviting managers and employees to assist on the development of the system facilitates their buy-in, and enhances their trust, understanding, and ownership of the performance measures. It is also important to involve the Human Resources and the Information System functions. It is essential that managers become accountable for the performance being managed, as will be the key roles for the passing of competitive advantage of the high tech in the new organization.
Training and education - employees at all levels need to learn the principles of the system, its measures, tools and procedures, [18]. Individuals can distort the information system by smoothing, biasing, focusing, gaming, filtering, "illegal” acts so it is important to train and educate individuals on how to engage rather than bypass the causes of dysfunctional behaviors.
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