The purest distillation of Darwinism is “evolve or die.” And following the acceleration of trends spurred by the coronavirus crisis, most business leaders have realized they must lasso and partner with specialists all over the planet to survive and thrive in the post-pandemic world.
Little wonder the value of the average merger and acquisition (M&A) deal in 2021 for the 10 highest deals in the U.K. was £3.3 billion ($3.9 billion), according to Office for National Statistics data — over five times more than the previous year’s £600,000 ($716,000). In the U.S., the value of M&A deals amounted to roughly $212 billion in December 2021, with the acquisition of Time Warner by America Online deemed the largest all-time M&A deal in the U.S. in 2022, according to Statista. And globally, M&A volumes hit a record $5.9 trillion, up 62% on the 2020 figure, Dealogic data showed.
While transformation is necessary for growth, few welcome it. Change management is essential for the success — or failure — of the merging of companies. If not handled with sensitivity, a clash of ways of working and cultures can be toxic. For this reason, the word “tropicalization” is increasingly being used in business circles.
This article was first published on DigiDay’s future-of-work platform, WorkLife, in July 2022 – to read the complete piece, please click HERE.
Oliver Pickup 