Title: A complexity perspective on leadership and change in the post-merger integration process

Authors: Barbel Lauser, Mike Peters

Addresses: Department of Strategic Management, Marketing and Tourism, University of Innsbruck, Universitätsstrasse 15, Innsbruck, Tyrol 6020, Austria. ' Department of Strategic Management, Marketing and Tourism, University of Innsbruck, Universitätsstrasse 15, Innsbruck, Tyrol 6020, Austria

Abstract: After 30 years of research in mergers and acquisitions and advances in the research of post-merger integration (PMI) processes, the outcome of a merger remains hardly predicable. Traditional leadership and change theories have not succeeded in fully explaining PMI processes and therefore new theories are needed. This article offers new insights into the integration and change processes by looking at the merged organisation as a complex adaptive system (CAS). It discusses characteristics of CAS and applies them to PMI, and questions pure cause-and-effect relationships by interpreting change processes as sometimes non-linear, unpredictable, with various feedback mechanisms. In addition, the article summarises new leadership theories emerging from a complexity perspective which might contribute to a better understanding of the PMI process. It concludes by advocating that for a successful integration both, traditional and complexity leadership is needed.

Keywords: change processes; complexity; leadership; mergers and acquisitions; M&A; PMI; post-merger integration; merger outcomes; complex adaptive systems.

DOI: 10.1504/IJLC.2008.023183

International Journal of Learning and Change, 2008 Vol.3 No.2, pp.196 - 210

Published online: 13 Feb 2009 *

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