Credits: 6
Schedule: 14.04.2020 - 20.05.2020
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:
Hannu Seristö
hannu.seristo@aalto.fi
Y207, Otaniemi Campus
Appointments agreed via e-mails (@aalto.fi)
Course assistant:
Linyu Liu
linyu.liu@aalto.fiTeaching 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 emphasis 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 chosen real-life case organization. In this way, the course combines theoretical reflections and business practices. The course has several visiting scholars and also industry speakers.
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. 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 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. Pre-assignments: reflection on pre-reading articles (10 articles) 50%
3. Team exercise: integration plan: 50%
Specific requirements of Assignments
Pre-assignments (50%):
The students are expected to discuss the theoretical perspectives presented in class pre-readings and apply the lessons 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 (max. 2 pages per article, font 12, line spacing 1.0)
- Summarize the key points and lessons of the articles (2 points)
- Discuss whether the points confirm or refute your practical knowledge or intuition (3 points)
Late submissions will be penalized by a 50%-point reduction.
Integration Plan (team assignment) (50%):
- Individually write an integration plan for a merger or acquisition of your choice. Length max. 12 pages, font 12, line spacing 1.5 (including references). Choose a case of merger or acquisition. Describe the case and the reason why you chose it. Also describe the motive(s) for the merger/acquisition. In your plan apply the theoretical perspectives discussed in class and covered in the pre-readings.
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.
Details on the course materials (applies in this implementation):
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. | 14.04.2020 9:15-12:00 | Introduction (Hannu)
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2. | 16.04.2020 9:15-12:00 | Value creation and the design perspective on M&As (Hannu)
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3. | 21.04.2020 9:15-12:00
| The rationale and reality in M&As (Hannu & Jukka Moisio, former CEO of Huhtamaki) | Reflection papers on articles 1 & 2 due on 20.04. @ 10AM
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3. | 23.04.2020 9:15-12:00 | The power and politics of common corporate language in PMI (Rebecca Piekkari, Professor, | Reflection papers on articles 3 & 4 due on 22.04. @ 10AM
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4. | 05.05.2020 9:15-12:00 | Managing people in international M&As (Ingmar Björkman, Professor, Intl. Bus., Aalto BIZ)
| Reflection papers on articles 5 & 6 due on 04.05. @ 10AM
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6. | 07.05.2020 9:15-12:00 | Socio-cultural perspective on M&As (Janne Tienari, Professor, Hanken School of Business)
| Reflection papers on articles 7 & 8 due on 06.05. @ 10AM |
7. | 12.05.2020 9:15-12:00 | Practitioner approach to M&As (Mike Walker & colleagues, | Reflection papers on articles 9 & 10 due on 11.05. @ 10AM
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8. | 14.05.2020 9:15-12:00 | Learning and knowledge transfer in M&As (Jonas Kronlund, Elisa)
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9. | 19.05.2020 9:15-12:00
| No lecture The time is dedicated to the integration plan consultation with lecturer, when needed. |
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10. | 23.05.2020 9:15-12:00 | No lecture The time is dedicated to the integration plan consultation with lecturer, when needed. | |
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| Integration plan final report due on 08.06.2020 |
- Teacher: Linyu Liu
- Teacher: Hannu Seristö