Speed is generally recognized as one of the most important choices a company can make during post-deal integration phase. Despite this, timing and speed are often neglected in strategy research making it difficult for managers to know how quickly they should integrate the newly acquired organization. This chapter offers insights into this question within the life sciences industry. It uses a multi-case approach over a 25-year period and includes the analysis of deals such as Johnson & Johnson's acquisition of Actelion, Takeda's integration of Shire, and Merck's integration of Lexigen. In this chapter we demonstrate that there is no "one best way" to the choice of integration speed. Rather the most successful companies align the speed to their strategic aims as well as to external and internal forces.

Mergers and acquisitions (M&A) are major events in organizational development and the post-merger phase is widely recognised as being crucial for value creation. One of the most important decisions in this process is the speed of integration. However, despite a growing body of literature on this subject, conclusions remain a source of persistent equivocality. In fact, this debate has been dominated by diametrically opposed, and often highly normative, views advocating either fast or slow post-merger integration (PMI). One commonality within this discussion though, is the shared assumption that integration proceeds at a linear, constant rate, whatever the speed. We challenge this assumption. We undertook a 30-month, longitudinal study of two merging, not-for-profit, organisations. Using detailed and multiple sources of process data, we were able to identify and track periods of comparatively rapid and equally comparatively slower integration during the two-and-a-half- year PMI process. We thus offer a novel empirical demonstration of the changes in speed during the PMI process. We support this with a theoretical discussion using the temporal concepts of chronos and kairos. We analyse the determinants and mechanisms of changes in speed, asking why and how these variations occur. We call this mechanism the kairotic switch and discuss its theoretical and managerial uses and implications.

This article offers an empirical demonstration of how different employees perceive the speed of change during the post-merger integration (PMI) process. As such, it adds to the growing body of literature on the speed of integration in the aftermath of a merger or acquisition (M&A). It broadens our understanding of the M&A integration process as it goes beyond binary recommendations of 'fast' or 'slow' integration by highlighting the relationship between an employee's involvement in the decision-making process and their perception of the speed of change. We conducted a multi-level longitudinal study over a two-and-a-half-year period. Our qualitative research on two not-for-profit, higher education institutions, employed multiple sources of process data. Building from this, our article thus provides not only novel theoretical insights into the PMI process, but equally offers valuable managerial advice on how staff morale, turnover and change resistance might be more efficiently managed during PMI.

Purpose One of major preoccupations of human resources (HR) in recent times has been the challenge of proving its value at the “top table.” Mergers and acquisitions (M&As) may offer one potential solution to this problem. M&As are renowned for the key management problems they generate such as diminished employee engagement and morale and increased staff turnover. However, such challenges also offer opportunities. This paper aims to argue that the recent wave of acquisitions in the pharmaceutical industry present HR with the possibility to demonstrate its real strategic value. Design/methodology/approach This paper offers an insider–outsider approach to the role of HR in M&As in the pharmaceutical industry. Based on an in-depth study of Sanofi’s emerging M&A strategy, it gives key insights into the reasons for multiple acquisitions and how HR can have a positive impact on value creation. Findings The findings demonstrate that the repeated acquisitions of US-based biotech companies made by the French pharmaceutical group Sanofi over the past five years is more than just a coincidence. Rather, it is an unstated strategy to develop within this market. HR can aid senior management in overcoming some of the major cultural challenges, thus demonstrating its real strategic value. Originality/value This paper clearly shows how following a specific emerging international strategy of M&As can empower a company through its human resources.

Purpose As the pharmaceutical industry faces a more changing environment, talent management appears to be a key differentiating element. Key talent retention strategies must be assessed during the mergers and acquisitions negotiations and implemented during post-acquisition integration. The purpose of this paper is to show how this can be done. Design/methodology/approach The paper adopts a single-case approach to show how talent can be managed during the post-acquisition phase after a takeover. Focussing on the acquisition of Genentech by Roche in 2009, it demonstrates how the Swiss pharmaceutical giant overcame a difficult initial start to the acquisition by adopting a nuanced talent management strategy. Findings The findings from this paper demonstrate best practice management and retention strategies needed to retain key talent. A decade after the acquisition, the Roche–Genentech tie-up is cited as one of the most successful in the life sciences industry. Roche’s talent management strategy has gained particular applause with Genentech consistently being named one of the best places to work (Wharton Work/Life, 2016). Investors are equally content. Sales of Genentech’s main products have tripled to $21bn since the acquisition. Originality/value This paper offers a concise and clear outline of the HR strategies used by Roche to ensure the successful integration of Genentech. During the takeover, talent management issues had the potential to be particularly acute given the highly independent DNA of Genentech’s organisation structure. As the pharmaceutical industry faces a more changing environment, efficient talent management appears to be a key differentiating element.

Ward was a renewed application for judicial review against the fairness of the claimant’s conviction for assault. In particular, it concerned the circumstances where a defendant is charged with ‘common assault’ and that charge then proceeds on the basis of a battery. The material facts of this case, leading to the charge of common assault, are not available in the judgment at the time of writing. The transcript merely provides that Craig Ward (W) ‘was involved in an altercation with a number of other men’ (at [2]) which led to his arrest and the charge of common assault. This lack of factual matrix is likely intentional here given that they are in no way relevant to the judicial review claim, or to the safety of his conviction. The focus, in terms of background information, is on how the trial proceeded against W. Initially, W was charged as follows:

Pegram was an appeal concerning the extent to which a police officer is considered as acting in the course of his or her duties when using force on another, and whether self-defence may justify the conduct of a defendant who assaults a police officer in the execution of that duty. The appeal also concerned an alleged misdirection as to the appellant’s character; that, however, is outside the scope of this comment. John Pegram (P) took part in a demonstration in Bristol, protesting another demonstration. The police wished to keep the two demonstrations separate and away from the public. It was accepted that P had strayed away from the pack and had diverted away from the agreed route. The victim, PC Millett, grabbed P by the arm in order to get his attention and warn him that he must rejoin the agreed route or he may be liable for a public order offence. During the confrontation (half-way through the warning according to the officer), P swung his arm around and struck the officer in the face. P contended that such contact was accidental. P was convicted of an offence contrary to s 89(1) of the 1989 Act noted above in the magistrates’ court. P unsuccessfully appealed to the Crown Court which reheard the case in full. The Crown Court preferred the evidence of PC Millett finding that he was acting in the course of his duties in taking hold of P. Further, the Court found that ‘[n]o prima facie case of self-defence was raised’, and instead found the defendant liable for the offence based on the recklessness of his conduct. Interestingly, P did not run self-defence in either his summary trial or first appeal to the Crown Court; this being one of the issues raised on appeal to the Divisional Court. P requested the learned judge state a case for the opinion of the Divisional Court. This request was initially rejected, however, following a successful judicial review application (R (on the application of Pegram) v Bristol Crown Court [2019] EWHC 965 (Admin)), the case was stated to the Divisional Court. Pegram, therefore, concerns the appeal by way of case stated to the Divisional Court. The Divisional Court was tasked with considering three points of law, as follows (at [2]):

Section 23 of the Criminal Appeal Act (CAA) 1968 provides the framework for the admission of fresh evidence in criminal appeals in the Court of Appeal. The overarching consideration in whether the Court should permit such evidence to be formally admitted into evidence is by reference to what is ‘necessary or expedient in the interests of justice’ (s 23(1)). By s 23(2), the Court is required to take the following four matters, among other relevant considerations, into account:

This article analyses student perceptions of university social responsibility (USR) across three cultures (France, Italy and Russia). USR is needed to strengthen civic commitment and active citizenship by university members to the communities they serve (Vasilescu et al., 2010). Insufficient empirical evidence currently exists to describe perceptions of key stakeholders as to what this should entail. Understanding such mind-sets is crucial to ensure effective learning adapted to the host environment (Dana, 2001). A descriptive-empirical approach combined with a factor and multivariate analysis from an online survey of 426 students enabled a comprehensive understanding of student opinions on the role of universities within their communities. Findings suggest that French and Italian students see USR as a more individual commitment compared to their Russian counterparts. From this, a specific approach to the education of future managers on issues of US and ethics may be developed. This also provides implications for higher education policy makers.

Purpose The purpose of this paper is to analyze Lenovo’s successful acquisition of IBM’s PC division using Ghemawat’s (2001) CAGE framework. It was an acquisition that was so full of symbols that it is difficult to know where to begin. Lenovo’s purchase of IBM in 2005 was first seen as a sign of the rapid growth and expansion of the Chinese economy and its transformation away from the traditional manufacturing base to more high-tech areas. For doomsday merchants in the land of Uncle Sam, it foretold the end of the world domination of the US economy. Despite a considerable number of skeptics at the time, Lenovo was clearly up to the task. Such was the success of the acquisition that by 2015, Lenovo could claim to have grown into the world’s number 1 PC maker, number 3 smartphone manufacturer and number 3 in the production of tablet computers. Design/methodology/approach This paper is a case study. Findings Despite a considerable number of skeptics at the time, Lenovo was clearly up to the task. Such was the success of the acquisition that by 2015, Lenovo could claim to have grown into the world’s number 1 PC maker, number 3 smartphone manufacturer and number 3 in the production of tablet computers. Indeed, by 2014, the firm had enough confidence to add the IBM server business to its portfolio. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Purpose According to the Irish writer, Oscar Wilde, a second marriage is the “triumph of hope over experience”. Many mergers and acquisitions (M&As) could be cast in the same light. This paper aims to outline four crucial questions senior managers should ask before embarking on a merger or acquisition. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Repeated studies have found that more than 50 per cent of M&As destroy rather than create value. Companies wishing to embark upon a merger or acquisition should thus think carefully before signing and ensure that they have made an impartial and critical analysis of the price, financing of the deal, complementarity and the cultural differences between the two organisations. If senior managers did this systematically before popping the question, the business world would certainly see less heartbreak. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organisations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Purpose The prevalence of corporate alliances has increased significantly in the past 25 years. However, such coalitions do not always produce the required results – a problem that is exacerbated when several partners are involved in a network alliance. Part of the difficulty is that, often, firms do not recognize all of the key issues in the successful management of an alliance. This paper aims to outline a four-point model that can be used to help companies develop their employees and work more effectively within network alliances. Design/methodology/approach This paper is a conceptual paper that draws in examples from Apple and IBM as well as research from the automobile, oil and higher education industries. It then offers a practical ABCD framework to assist companies in developing their staff to work effectively within network alliances. Findings Many studies show that companies who habitually succeed at strategic alliances have developed superior management teams. Despite this, few companies actively encourage training or even set best practices for alliance management. Given the high cost of establishing alliances and the excessive failure rate, it would seem logical that companies would invest time in the development of skills for personnel, thereby facilitating alliance success. If organizations dedicated more time and funds to training staff in the efficient management of alliances, they would considerably increase the likelihood of their success. Originality/value This paper gives a practical framework that can be referred to when developing company employees to work more effectively within a network alliance. This framework is based on analysis from a broad range of industries.

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by independent writers who add their own impartial comments and place the articles in context. Findings An slowdown to the current movement of mergers and acquisitions (M&As) will inevitably come. As with economic booms, the best that can be hoped for is a soft landing. Practical implications This paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent, information and presenting it in a condensed and easy-to-digest format.

Purpose The aim of this paper is to see how NOT to manage an acquisition through the case study of one of the worst M&As in recent years: Emporiki Bank’s by Crédit Agricole. Although the role of the banks is to manage risk, the acquisition of Emporiki by Crédit Agricole shows how easy it is, when ill prepared, to make one mistake after another and get trapped without a way out. It can even cause to take such desperate decisions as in this case sell an entire bank for one single euro. Design/methodology/approach General review. Findings The paper shows that being a very successful bank does not guarantee in any way good M&As, especially in an unknown market. Preparation, understanding of the whole situation and reactivity is key for a successful M&A. Without it, the consequences can be disastrous. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

We present a consistent thermodynamic theory for the resonant level model in the wide-band limit, whose level energy is driven slowly by an external force. The problem of defining ``system'' and ``bath'' in the strong-coupling regime is circumvented by considering as the system everything that is influenced by the externally driven level. The thermodynamic functions that are obtained to first order beyond the quasistatic limit fulfill the first and second law with a positive entropy production, successfully connect to the forces experienced by the external driving, and reproduce the correct weak-coupling limit of stochastic thermodynamics.