Naslov
Importance of Corporate Communications in Mergers and Aquisitons: Theoretical Background and Empirical Evidence from Croatian Banking Sector
(Importance of Corporate Communications in Mergers and Aquisitons: Theoretical Background and Empirical Evidence from Croatina Banking Sector)

Autori
Tomašević Lišanin, Marija ; Jakovčević, Drago ; Palić, Mirko

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
2nd International Conference: An Enterprise Odyessey: Building Competitive Advantage / Galetić, Lovorka - Zagreb : Ekonomski fakultet Sveučilišta u Zagrebu ; Mikrorad, 2004

Skup
2nd International Conference: An Enterprise Odyessey: Building Competitive Advantage

Mjesto i datum
Zagreb, Hrvatska, 17.06.2004. - 19.06.2004

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
mergers; acquisitions; change; banks; corporate communication; culture

Sažetak
Globalisation of the economy is one of the main driving forces fuelling changes in the strategy formulation and management process in the organizations regardless of their size and sector. In the attempt to consolidate market position or to enhance value creation process for their customer, companies from manufacturing, retailing, food, services, oil and other areas, challenged by the increased competition deriving from liberalisation of national economies and a need to conquer new markets apply new business strategies characterised by building networks of relationships or forming strategic partnerships and alliances with others. However, one of the most popular option in a range of business growth strategies, in last two decades, became a full integration of companies through mergers and acquisitions. Financial sector, with banking as its most important part has been strongly influenced by changes in competitive framework in Croatia. Foreign banks, as a part of their strategies of increasing regional or global presence acquired control stock packages in a great number of local Croatian banks. In addition, number of the mid-sized or small Croatian banks wanted to consolidate their market position by integration of their business and have done it though mergers. Such changes were of the highest importance for participating bank mangers, their employees and clients, and therefore required well-prepared and thoughtful program of change management. As the wealth of empirical and theoretical data indicate, many mistakes in change management process can be linked directly to, and have causal connections with, breakdowns in communications. Such breakdowns in a great number of cases led to the failure of the entire endeavour. Therefore, great attention is to be given to best practice in corporate communications directed toward different groups of stakeholders including company's shareholders, legal authorities, own employees, clients, media and others. Well conceived and implemented communication program increases the chance of a successful merger/acquisition and that is where marketing comes to the play, offering its rich instrumentation of the segmentation, research and communication means.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA