Managing Cultural Differences

Managing Cultural Differences examines the cultural and organizational complexities which arise during mergers & acquisitions, joint ventures and alliances. More than 50% of all corporate alliances fail, and those concluded across cultural divides are even less likely to succeed. These failures can be due to the executives concentrating on the financial strategic aspects of the deal at the expense of cultural, organizational and execution aspects.

As a result of a 5-year research, Piero Morosini found that national cultural differences are not necessarily detrimental to cross-border mergers and alliances, but rather if handled effectively can actually enhance corporate performance. Managing Cultural Differences demonstrates that superior 'execution skills' can lead to the successful implementation of overseas alliances. It is based on rigorous research methods, backed up with indepth interviews with Senior Executives and real world case studies of leading multinationals. The book explains the strategic relationship between national cultural differences, execution and the performance of global and corporate alliances.

The unique findings in this book are a reflection of the author's background that has combined academia and management. Piero Morosini is a Research Fellow at the Wharton Risk Management and Decision Process Center, USA and a Managing Consultant at Andersen Consulting Strategic Services Group in Milan. He was formerly a consultant for McKinsey & Co and has had extensive international experience with JP Morgan and Flemings. Morosini has published in leading academic journals such as European Management Journal and Journal ofInternational Business Studies

"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." -Chief Executive, SmithKline Beecham