I work for a conservative company that has always grown through organic growth. We have never done M & A but struggling to hit our AM Best growth targets. We are developing M&A framework, but struggling to get everyone comfortable with growth through acquisitions.
Advice or thoughts on foundation? Steering committee? Being aggressive to hit time lines? Competing against companies that have teams of researchers or are more efficient ?
I believe it is important to understand the rationale behind M&A.. What business objectives do you intent to achieve via M&A (apart from financial benefits) as financial/ monetary benefit is the product of successful M&A. The framework, if created keeping the objective in mind can bring alignment. Set up of Steering committee with right level of management support is for sure important for foundation; but the more important is to find and onboard people with motivation/ drive to lead M&A/ Integration activities will result in achieving timelines.
I feel it is essential to get every one aligned and adapt the fundamentals of M&A. Many old schools type of management are not particularly keen on this approach. However if the company is looking to accelerate its growth through mode of acquisitions a steering committee with motivated people and previous experience of M&A which can show the management benefits of this approach would work in favour.
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