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Essay on GE Capital
M&A often failed to deliver the promised results. Because their growth strategy was based on the acquisition more than organic growth, GE Capital was able to develop a process to manage the integration process. Any integration process involve changes. We can see how the change model works in this case. The first element is that GE capital learned to start integration process in the due diligence stage. This is like the stage of studying the current situation for changes. If the two companies' cultures are completely different, it would have little to build on for the new company. It would not a good idea even in the first place to acquire such a company.
Change management must be congruent, involving people, organization structure, compensation, and cultures. The third lessons learned by GE Capital's processes recognize the need to address the issues of organization structure, compensation as soon as possible so that it could reduce the anxiety of people, especially the employees in the acquired company. We talked about considering the interests of all three change makers.
In the acquisition case, the employees at the acquired company can be considered change recipients. The detail works done by GE capital in this stage really based on understanding the needs of the change recipients. The success of managing the cultures in the new company is the key to the success of acquisition. GE Capital developed a 4-step process to integrate the two cultures. We can see the idea of appreciative inquiry in their process.
One interesting point is that in GE Capital the integration manager is not accountable for the performance of business. Again here differentiates the integration manager and the business leader. I can see the point that the integration manager will not be biased since he is not held accountable for business performance....
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