PMI can obtain maximum results when it is managed with M & A as a whole, and Communications Korea provides a total service pack for M&A and PMI. Among all stages of M&A, we consider PMI as the most strategically important phase. Because “lack of plans for the blending period after M&A and unexpected errors during the actual merging process ”are the biggest reasons why success rate of M&As is as low as 50 percent.
Although PMI is a process this critical, all PMIs have some features in common. First of all, PMI must be done in “a limited time.” Thus, it is critical to set priorities before implementation. Secondly, “dramatic changes” are very common. Leadership and active communication are required to help employees cope with such rapid changes . Lastly, PMIs are generally “complicated.” There is such an enormous amount of unsettled issues that precise R&R must be provided and shared to minimize confusion and make progress uninterruptedly.
CK‟s PMI service pack CoBlenders® basically consists of three services: vision system integration, corporate culture integration and HR communication.
The primary values of CK‟s PMI service pack CoBlenders® are readiness, speed, communication, engagement and participation. In particular, we provide the best service in strategic communication which is the most important part of PMI.
Vision System Integration Service
A vision system includes mission or vision, core values, core skills and expertise, ground for establishment and prediction of future environment.
There are two approaches for vision system integration: you can establish a new vision system or modify and supplement the existing system.
Through external/internal environment analyses, individual companies‟ pre-merger analysis and case studies, we extract key implications to conceive mission and vision.
For establishment of a brand new vision system which is practical and attainable, discussions and debates will be held on a regular basis to reflect internal employees‟ views and ideas so everybody can give assent to the newly-established vision system.
HR Communication Service
Reducing uncertainty of employees and sharing the purpose of M&A through communication is very important in order to prevent brain drain crisis and succeed in human resources integration. In the aspect of integrating human resources, it is critical to map out strategies considering the fact that successful communication becomes integrated during the circulation process of „ information delivery – improvement of understanding –making conversations – accepting the situation – inviting participation–granting authorization. ” In the integration process, HR management communication is conducted by these steps: analyzing the features and differences of each company‟s HR system, understanding the employees‟ desire, integrating and classifying relevant information, analyzing advanced cases, drawing communications trategies, operation and feedback.
During the process, a variety of methods for investigation and analysis which reflect the know-how of CK will be utilized and external and internal communication on core issues regarding HR will continuously take place besides other subjects.
Corporate Culture Integration Service
The PMI process has a variety of key issues.
One of the most important issues is corporate culture integration. Among the reasons why PMIs fail, cultural dissimilarities rank the highest. Corporate culture integration is closely related to communication.
It is because a culture is established through communication in an organization and the established culture is maintained, developed and inherited through communication. There are three types of corporate culture integration methods: transplanting the culture based on the scope of integration and intensity of cultural conflict, gradual integration of cultures from two companies for a long period of time while reserving them individually and creating a new compound culture by extracting dominant factors from the culture of both companies. The corporate culture integration goes through the process of analyzing the individual corporate culture, making solutions for removing obstacles in culture convergence and designing a desirable corporate culture.
When going through the first three stages, we will decide on which type of compound culture to pursue before the final designing stage. For every analysis, redesigning process, and change management, a variety of investigation methods will be used which come from Communications Korea‟sexpertise.
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Kim, Ki-Hoon, Consultant