Syllabus

Credits: 6

Schedule: 16.04.2019 - 23.05.2019

Teacher in charge (valid 01.08.2018-31.07.2020): 

Hannu Seristö
Linyu Liu

Contact information for the course (applies in this implementation): 

Instructors’ contact information:

Paulina Junni

paulina.junni@aalto.fi

Y204, Otaniemi Campus

Appointments agreed via e-mails (@aalto.fi)

Course assistant:

Valentina Arrieta

valentina.arrieta@aalto.fi

Teaching Period (valid 01.08.2018-31.07.2020): 

Period V 2018-2019, Otaniemi campus
Period V 2019-2020, Otaniemi campus

Learning Outcomes (valid 01.08.2018-31.07.2020): 

The course provides the students with an up-to-date understanding of theories and practices of M&A that will help them to understand the nature of M&As and plan and implement post-merger integration successfully. Upon completing the course, the students should be able to:

1.    Understand the challenges that organizational members involved in mergers and acquisitions are confronted with;
2.    Analyze the M&A process with its challenges and dilemmas from different theoretical angles;
3.    Learn to develop an integration plan for M&As that would allow maximizing strategic synergies, while minimizing cultural challenges and risks;
4.    Be able to assess and manage the complex dynamics in unfolding M&A integration.

Content (valid 01.08.2018-31.07.2020): 

The course offers a theoretically grounded and practically relevant overview of the key themes in Mergers and Acquisitions (M&A) and specifically in post-merger integration (PMI). Building upon a theoretical understanding of organizational changes and M&A-specific concepts and frameworks, the course concentrates on the various problems and challenges in M&A and PMI. These include strategic integration and synergies, cultural challenges, identity-building, cognitive and emotional dynamics of inter-firm collaboration, politics, communication and learning.

Details on the course content (applies in this implementation): 

OVERVIEW

The course offers a theoretically grounded and practically relevant overview of key themes in mergers and acquisitions (M&As) with a particular focus on post-merger integration (PMI). Building upon a theoretical understanding of organizational changes and M&A-specific concepts and frameworks, the course discusses various problems and challenges in M&As and PMI. These include strategic integration and synergies, cultural challenges, identity-building, cognitive and emotional dynamics of inter-firm collaboration, politics, communication and learning.

The course consists of two parts: (1) a more theory-driven discussion of different perspectives that can be used to analyze M&As and (2) a more practical application of these perspectives to analyze a real-life case organization. In this way, the course combines top-notch theoretical reflections and cutting-edge business practices. The course also includes industry speakers and cases for students to analyze.

LEARNING OUTCOMES

The course provides the students with an up-to-date understanding of theories and practices of M&As that will help them to understand the nature of M&As and plan and implement post-merger integration successfully. Upon completing the course, the students should be able to:

1. Understand the challenges that organizational members involved in M&As are confronted with;

2. Analyze the M&A process with its challenges and dilemmas from different theoretical angles;

3. Learn to develop a value tree and an integration plan for M&As that would allow maximizing strategic synergies, while minimizing cultural challenges and risks;

4. Be able to assess and manage the complex dynamics in unfolding M&A integration.

Assessment Methods and Criteria (valid 01.08.2018-31.07.2020): 

Assignments 100%

Elaboration of the evaluation criteria and methods, and acquainting students with the evaluation (applies in this implementation): 

The course is graded based on the following:

1. Session activity and participation: 10%

2. Pre-assignments: reflection on pre-readings or/and analysis of a chosen case through a given theoretical perspective 30%

3. Group case competition: 30%

4. Integration plan (individual assignment): 30%

ASSIGNMENTS

Pre-assignments (30%):

The students are expected to apply the theoretical perspectives discussed in class and pre-readings to a real-life case organization of their own choice. More instructions are to be provided during the first course session (and subsequently made available on MyCourses).

Reflection on given articles (1 page, Font 12, Line spacing 1.0)

• Summarize the key points of the articles (0,5 points)
• Discuss how key points of these articles complement or contradict to each other (0,5 points)
• Discuss whether the points confirm or refute your practical knowledge or intuition (1 point)

Analysis of individually chosen case (1 p, Font 12, Line Spacing 1.0)

• Assignment 1: Choose a case of merger or acquisition (hypothetical or real one). Describe the case and the reason why you chose it. Also describe the motive(s) for the merger/acquisition.
• Assignments 2-6: Apply the theoretical perspectives discussed in class and the pre-readings to the case of your choice

Late submissions will be penalized by a 50% point reduction

Group case competition (30%):

In groups, the students are to analyze a case, which will be specified during the course. The case analysis requires independent gathering of material and interaction with other group members. The case presentation (PowerPoint deck) should include 15-20 slides. Specific instructions for the group assignment will be provided during the course (and subsequently made available on MyCourses).

Integration plan (individual assignment) (30%):

Individually write an integration plan for a merger or acquisition of your choice. You cannot use the same case that you analyze throughout the course for the pre-assignments. Length 10 pages, font 12, line spacing 1.5 (including references). The plan must deal with the problems and challenges of integration.

The plan may include the following sections:

• How will this deal create value
• What will be the operating model of the merged organization, and how will this help to unlock value from the deal
• Roles and responsibilities in integration work
• How will identity(ies) be integrated or managed
• What are potential emotional reactions to be managed
• How will politics be taken care of
• How will cultures be integrated
• How will knowledge transfer be ensured
• Communication
• Integration schedule and justification for this schedule

Workload (valid 01.08.2018-31.07.2020): 

Contact teaching    30h
Independent work    130h
Total    160h (6 ECTS)

Study Material (valid 01.08.2018-31.07.2020): 

A reading package consisting of academic and popular articles.

Course Homepage (valid 01.08.2018-31.07.2020): 

https://mycourses.aalto.fi/course/view.php?id=16183

Prerequisites (valid 01.08.2018-31.07.2020): 

Completing basic courses on strategic management before this advanced level course (such as TU-91.1011 or 21C00100 or 21E00030) is recommended.

Grading Scale (valid 01.08.2018-31.07.2020): 

0-5

Registration for Courses (valid 01.08.2018-31.07.2020): 

WebOodi.

Further Information (valid 01.08.2018-31.07.2020): 

The course is restricted to 50 students (including quotas for students from the Open University and Joo-studies).
Priority list:
1. MIB/Strategy/Global Management/CS/IDBM,
2. MIB minor students,
3. CEMS students,  
4. Other BIZ and exchange students,
5. Other Aalto students.

Details on the schedule (applies in this implementation): 

Session	Date	Topic	Assignments
1.	16.04.2019 9:15-12:00	Introduction (Paulina)
2.	18.04.2019 9:15-12:00	Part 1: Value creation perspective on M&As   Part 2: Design perspective on M&As (Paulina)	Reflection paper 1 + case description, justification and M&A motive(s)  due on 18.04. @ 10AM
3.	23.04.2019 9:15-12:00	Emotions and identity perspective on M&As (Paulina)	Reflection paper 2 + case analysis from design perspective due on 22.04. @ 10AM
3.	25.04.2019 9:15-12:00	Political issues, justice and communication in PMI (Eero Vaara, Professor, Management, Aalto BIZ)	Reflection paper 3 + case analysis through emotions and identity perspective due on 24.04. @ 10AM
4.	03.05.2019 9:15-12:00	Socio-cultural perspective (Janne Tienari, Professor, Management, Hanken School of Economics)	Reflection paper 4 + case analysis through political, justice and communication perspective due on 02.05. @ 10AM
6.	07.05.2019 9:15-12:00	Part 1 (9:15-11:30): Practitioner perspective on M&As (Mike Walker, Accenture)   Part 2 (11:30-12:00): Preparation for Accenture visit	Reflection paper 5 + case analysis through socio-cultural perspective due on 06.05. @ 10AM
7.	14.05.2019 9:00-12:00	Practitioner perspective on M&As @ Accenture (Mike Walker & colleagues, Accenture)	Accenture assignment (PowerPoint deck)  due on 13.05 @ 10AM
8.	16.05.2019 9:15-12:00	Part 1 (9:15-10:45): Learning perspective on M&As (Paulina)   Part 2 (11:00-12:00): Learning from M&As   (Jonas Kronlund, Elisa)	Reflection paper 6 due on 15.05. @ 10AM
9.	21.05.2019 9:15-12:00	No lecture   The time is dedicated to case competition preparation	Case analysis through learning perspective due on 20.05. @ 10AM
10.	23.05.2019 9:15-12:00	Case competition presentations	Case competition
			Integration plan due on 09.06.

Description

Registration and further information