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Discussion
讨论
We can observe common practices associated with success. The common issues are linked to the steps the three acquirers used to integrate their different entities, i.e. in their knowledge transfer, learning and acculturation processes.
我们可以观察到与成功相关的共同做法。常见问题与措施这三个收购者用于集成不同的实体,即在知识转移、学习和文化适应过程。
The creation of an integration team was a common practice in the three case studies. A strong commitment from top executives to lead the new entities into the future seems vital to minimise the uncertainties associated with employee's roles and future direction. The cases also illustrated that appropriate integration strategies can
overcome cultural diversity. A fundamental question is not: ``Do we fit?'' but: ``Are we willing to fit?'' (Gaertner et al., 1989).
三个案例研究，整合团队的创作是一种常见的做法。从高层管理人员到未来引领新的实体，似乎强有力的承诺至关重要，以尽量减少与员工的角色和未来发展方向的不确定性。这个案例也说明了适当的整合策略克服文化的多样性。一个根本的问题是：``我们是否合适？''，而是``我们是否愿意适应“(Gaertner et al., 1989).。
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An appropriate culture assessment exercise aims to identify any significant differences or similarities between the core values, beliefs, attitudes and management style of the target company and the potential acquirer partner before the deal is completed. This was clearly a decision made by DB-BT top executives and it proved a useful and valuable part of their integration strategy. With Volvo, as seen by management, a culture awareness exercise if conducted before the deal closed would have facilitated the learning and acculturation process in terms of better understanding of each other's working values and beliefs in an earlier stage.
适当的文化评估工作旨在确定交易完成前，目标公司的管理风格和潜在收购伙伴之间在核心价值观，信念，态度的任何显著差异或相似处。这显然是一个决定由DB-BT高管，并且证明了他们的整合战略一个有用和有价值的部分。如沃尔沃管理层所看到的，一种文化意识的锻炼，如果之前进行关闭交易，在早期阶段的学习和同化过程将有助于更好地了解对方的工作价值观和信念。
The case studies have demonstrated, as in the literature, that while nationality and cultural differences may decrease the perception of a common identity, the awareness of a common set of goals and objectives may reinforce integration. In the three case studies, intergroup co-operation has been fostered by top management. The creation of the integration teams induces the members of both groups to conceive themselves primarily as one large group rather than separate entities: from ``us'' and``them'' into the more inclusive ``we'' (Gaertner et al., 1989).
As theorists on management learning have pointed out (see Friedman, 2002) organisational learning begins, and often ends, with the individual. Therefore, the role of the individual is critical as an agent of organisational learning. All learning takes place inside the individual human heads, organisations learn either through the
learning of their members or by taking in new members with new knowledge which is the case of merging firms. Given the proper training and support, individuals, at every level of organisations can encounter new ideas, errors, puzzles and other opportunities for learning which can increase satisfaction and organisation effectiveness. Thus the role of HR functions, more specifically, the training department is crucial in developing people skills in learning.
The cases illustrated that a process of knowledge transfer and creation can be triggered in merging firms which allows for intercultural and inter-organisational learning to occur. Having the time to know about other units early in their partnerships may be a way to avoid clashes later. Over time, managers learn about each other as colleagues rather than as stereotypical groups of people, like ``Americans and Germans''. While companies usually conduct
financial due-diligence to assess prospective targets for acquisition, fewer consider the people dimension.
The learning process is clear in the three cases and the firms feel the success of the acquisition process as both are gaining with the results. They feel stronger to compete.
这些案例说明了，知识转移和建立的过程可以触发允许跨文化和跨组织学习在合并企业内的发生。有时间提早了解其他单位在他们的合作伙伴关系，可能是以后避免冲突的一种方式。随着时间的推移，管理者作为同事互相了解，而不是刻板的人群，像“美国人和德国人”。虽然公司通常进行
财务尽职调查，以评估潜在的收购目标，较少考虑人民维度。
学习的过程是在这三个案例中是清楚的，企业感受到了收购过程的成功因为双方都获得了结果。他们感到可以更强的去竞争。
Conclusions
结论
This article examined integration strategies in international acquisitions looking at Deutsche Bank-BT, British Petroleum-Amoco and Ford-Volvo. An underlying assumption was that success is only possible when potential benefits are realised through an effective post-merger integration and acculturation process. The acquisition of new
competencies and knowledge through the merging process is an important motive behind the firms's co-operation and can be an important and desirable by-product of their collaboration.
本文着眼于德意志银行-BT，英国石油-阿莫科公司和福特沃尔沃在国际并购中调查整合策略。一个基本的假设是，当潜在利益通过有效的并购整合和通话过程实现时，成功是唯一可能的。通过合并过程收购新的能力和知识，是公司合并后重要的动机，他们的合作意外收获可能是一个重要的和令人满意的。
The case studies demonstrate that the impact of cultural differences in international M&A can be minimised when
the buying firms takes the time to create a positive atmosphere for capability transfer before initiating any actual consolidation of human and physical assets. The need for strategic interdependence (low or high) and the need for organisational autonomy (low or high) vary between the uniqueness of each acquisition process. It became clear that a culture change process has been triggered in the three merging groups which seems to be a positive sign of company development, revitalising and growth. New ideas have been implemented and old ideas challenged, a new organisational culture has been gradually emerging which will reflect in performance and profitability.
If learning is an important source of competitive advantage, then firms who accumulate skills and knowledge appropriate to their environment will outperform those who do not (Geroski and Mazzucato, 2002). As shown in the case studies, appropriate integration strategies implementation can facilitate the learning and acculturation
process resulting in minimising the uncertainties in the work place, and increasing the willingness to co-operate and to be part of a new culture entity. The socio-cultural integration of two previously discrete work forces and their organizational cultures is a major management task.
This article reported the preliminary results of an ongoing research project. Each research contribution builds on previous work and also offers opportunities for new insights. We are currently developing in-depth case studies with one or more of the firms described. This is a complex and stimulating multidisciplinary area of comparative management, which has important implications for global business development.
这篇文章报道了一个正在进行的研究项目的初步结果。每个研究贡献是建立在以前的工作基础，同时也提供了新的见解的机会。目前，我们正在发展深入的个案研究，描述企业中的一个或多个。这是一个复杂而刺激的多学科领域的比较级的管理，对全球业务发展具有重要的意义。
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