Managing Cultural Differences: Effective Strategy and Execution Across Cultures in Global Corporate Alliances(International Business and Management)

Cross-border mergers, acquisitions and alliances share at least two characteristics with the marriage trends of the "baby boom" generation: they have grown explosively during the 1980s and 1990s and-less fortunately-they fail about half the time. Cross-cultural differences play a key part in their failure. Morosini's book sets out practically orientated guidelines on how to handle cultural differences in such a way as to improve the success rate of cross-border acquisitions and alliances. Within an academically rigorous framework it makes extensive use of original case studies and interviews with top executives of leading multinationals involved in international acquisitions and joint ventures, as well as the work of some of the leading scholars in the field.

Table of Contents:
Section heading: National Cultural Differences and the Performance of Cross-Border M&As, JVs and Alliances. Execution-Driven Advantages in 'Cross-Cultural' M&As, JVs and Alliances. Turning National Cultural Differences into Lasting Practical Advantages.

Review :
Jan Leschly, Chief Executive, SmithKline Beecham Dr Morosini's research takes a radical view of the complex arena of global partnerships. In articulate style he outlines both the negative and positive aspects, as well as meticulously examining the key links of many such corporate alliances. He clearly illustrates that national cultural differences are not necessarily detrimental to performance and stresses that a company's execution orientation can become a major competitive advantage in global mergers and acquisitions, joint ventures and alliances. With the number of M&As set to continue well into the next century, Dr Morosini's significant findings can become a benchmark for any company seeking to become part of a global corporate alliance. Sir Michael Perry, CBE, Chairman, Centrica Plc Piero Morosini identifies the management of cultural and executional differences between firms as the key to effective mergers and acquisitions. The Marketing Council in Great Britain champions an integrated approach to business management, which has as its aim the unremitting drive for customer preference. Dr Morosini's analysis of British Airways argues persuasively that this approach was the key to that company's transformation from merger to its current standing as global leader. Sir Peter Bonfield, Chief Executive, British Telecommunications As CEO of a company with more than 50 alliances around the globe, I warmly welcome the publication of this book. Successful alliances depend on mutual understanding, vision and trust. A proper comprehension of the cultural background of each partner and each market is essential if you are to achieve your objectives. Paul Kleindorfer, Professor of Decision Sciences and Economics, Wharton School Dr Morosini not only informs his earlier path-breaking research on this area, but he opens new vistas for research and practice for the future. His findings are very significant indeed in this the new age of global partnerships. Jean-Pierre Lehmann, Executive Director, Swiss-Asia Foundations Dr Morosini's work has significant corporate strategy and government policy implications. Research on national culture, execution and global alliances is of great academic and managerial interest, but requires a difficult mix of solid technical skills and cultural sensitivity. Dr Morosini's work, track record and approach are very rare indeed in combining these qualities. Masaru Yoshitomi, Vice-Chairman, Long Term Credit Bank of Japan Research Inst This kind of research certainly enriches our understanding of globalization in the context of various cultural influences on FDI and its performance. Paul Stonham, Editor, European Management Journal The contents, field and treatment of the subject are all first-class. The Wharton School is a renowned crucible for academics, and the author has worked with some of the School's best academics. Dr Morosini's makes new contributions to thinking on business alliances, making use of and reference to the major contributions to this field and synthesizing them in eloquent language.