Communication plans are imperative in business when needing to establish objectives and to reach goals. In the process, effective methods of communication can be used to facilitate that the messages will arrive to target audiences. In the present scenario, it was confirmed how strong communication plans are the tools to better facilitate processes as sensitive as merging companies. This merger is by itself stressful to employees and management. However with proper communication strategy, the process can became as smooth as possible.
Some companies need to go to restructuring and changes in their models of conducting business. One of the major ways to do so is through mergers and acquisitions. Mergers allow companies in a particular industry to grow rapidly without the necessity to create another organization. Even though, Mergers is an aspect of business strategy aimed to help grow a business, it can damage management in target organizations. In a study conducted by Krug, et al. (2008), it has been found that organizations lost 21 percent of top leadership each year for at least 10 years after the deal. This turnover is expected if the line of production of both emerging companies overlap. During the process of a merger, many uncertainties and emotional changes can be experienced. Thus, it is of vital importance to conduct a communication plan that encourages executives and employees to stay and maintain high quality of production. In the Princeton File Cabinets – Sauer Incorporated merge scenario, I will structure a communication plan to manage the situation through this scary and emotional transitional period.
The objectives will be oriented to the human element in the merging process. This is an aspect that has been continually neglected, since the financial aspect has taken most of the attention. As Reh (n.d) argued that for merging companies to be successful, it is required that the management of the personnel involved is successful. For this, I will consider both stakeholders: The internal (executives/ employees, and external (customers). * Officers and middle management personnel. To put in practice aspects of effective communication and leadership to establish and implement a plan that will help this personnel in the transition process. * Customers. To maintain customer loyalty by assuring them an extended and diversified product line. *
TARGET AUDIENCES (STAKEHOLDERS)
It is important to determine the people who have interests and influence in the merger. Stakeholders analysis is the process that allows identify those key individuals to evaluate their understanding of the process, their positions, and influences in the project. Talking about the importance of stakeholder analysis, Baker (n.d.) mentions in her article “Communication Plans”, that without this strategy, “the communication plan will lack force and direction”. Two stakeholders can be identified in this merging situation. These are the same individuals to whom the objectives are directed to: Executives/employees and customers. These are the people I need to communicate with during the project transition.
MESSAGES AND COMMUNICATION PROCESSES DIRECTED TO STAKEHOLDERS As mentioned above, I will stress the importance of effective communication and leadership in directing messages to stakeholders. Executive management personnel .
As the chief executive officer, I need to commit myself to effective leadership and ongoing communication to explain to middle management personnel what is known and what needs to be clarify. However what is more important is to maintain an open communication line to sustain a positive atmosphere within these stressful times. With this approach, even when most of the staff will fear change, they will appreciate openness. One theory that promotes this open...
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