Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.
LEARNING OUTCOMES
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.
Credits: 6
Schedule: 20.04.2021 - 27.05.2021
Teacher in charge (valid 01.08.2020-31.07.2022): Paulina Junni
Teacher in charge (applies in this implementation): Hannu Seristö
Contact information for the course (valid 30.03.2021-21.12.2112):
Instructor’s
contact information:
hannu.seristo@aalto.fi
School of
Business
Appointments
agreed via e-mails (hannu.seristo@aalto.fi)
Course
assistant:
Emilia Eräpolku
emilia.erapolku@aalto.fi
CEFR level (applies in this implementation):
Language of instruction and studies (valid 01.08.2020-31.07.2022):
Teaching language: English
Languages of study attainment: English
CONTENT, ASSESSMENT AND WORKLOAD
Content
Valid 01.08.2020-31.07.2022:
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.
Applies in this implementation:
OVERVIEW
The course offers a theoretically grounded and practically relevant overview of key themes in mergers and acquisitions (M&A) 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 chosen real-life case organization. In this way, the course combines theoretical reflections and business practices. The course has visiting scholars and visiting 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 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 01.08.2020-31.07.2022:
Assignments 100%
Applies in this implementation:
The course is graded based on the following:
1. Individually written reflection papers on the pre-reading articles (9 articles): 54%
2. Team assignment consisting of an integration plan done in pairs: 45%
In addition, answering to the course feedback form will add to one point (1%).
Note: You have a chance to write the reflection papers in pairs - the evaluation will be adjusted accordingly.
Workload
Valid 01.08.2020-31.07.2022:
Contact teaching 30h
Independent work 130h
Total 160h (6 ECTS)Applies in this implementation:
In this implementation:
Contact teaching 24h
Independent work 136h
Total 160h (6 ECTS)
DETAILS
Study Material
Valid 01.08.2020-31.07.2022:
A reading package consisting of academic and popular articles.
Applies in this implementation:
A reading package consisting of academic and managerial articles. A detailed list of readings will be provided in MyCourses.
Prerequisites
Valid 01.08.2020-31.07.2022:
Completing basic courses on strategic management before this advanced level course (such as TU-91.1011 or 21C00100 or 21E00030) is recommended.
SDG: Sustainable Development Goals
9 Industry, Innovation and Infrastructure
17 Partnerships for the Goals
FURTHER INFORMATION
Details on the schedule
Applies in this implementation:
Session
Date
Topic
Assignments
1.
Tue 20.04.
9:15-12:00
Introduction to the course and getting e.g. assignment teams organized
2.
Thu 22.04.
9:15-12:00
Value creation perspective on M&As
Financial analysis in M&As
Prof. Sami Torstila, Finance
3.
Tue 27.04.
9:15-12:00
Design perspective on M&As
The rationale and reality in M&As
Jukka Moisio, CEO of Nokian
RenkaatReflection papers due on 26.04. at 10AM
4.
Tue 04.05.
9:15-12:00
Managing people in international M&As
Prof. Ingmar Björkman, Intl. Bus.
Reflection papers due on 03.05. at 10AM
5.
Thu 06.05.
9:15-12:00
The power and politics of common corporate language in PMI
Prof. Rebecca Piekkari, Intl. Bus.
Reflection paper due on 05.05. at 10AM
Assignment on news.
6.
Tue 11.05.
9:15-12:00
Managing the M&A process
Risto Lummaa & Antti Sinkkonen, EY-Parthenon
7.
Tue 18.05.
9:15-12:00
Article & case discussion session
Reflection papers due on 17.05. at 10AM
8.
Thu 20.05.
9:15-12:00
Integration plan assignment consultation with the lecturer
9.
Tue 25.05.
9:15-12:00
Integration plan assignment consultation
with the lecturerReflection paper due on 24.05. at 10AM
10.
Thu 27.05.
9:15-12:00
Integration plan assignment consultation
with lecturerReflection paper due on 26.05. at 10AM
Feedback sessions on the plan can be agreed for the weeks starting on
Monday June 14thIntegration plan final report due on Friday 04.06.2021 at 10AM