Performing Cultural Due Diligence to Better Understand the Target Company | Ken Bond w/ Kison Patel
Ken Bond, Head of Corporate Development at Cetera Financial Group. Most of the biggest M&A failures of all time are caused by culture clashes. Both companies cannot simply co-exist with each other, and instead of creating more value, they destroyed both of their businesses. This is why cultural due diligence is crucial in M&A. In this episode of the M&A Science Podcast, Ken Bond, Head of Corporate Development at Cetera Financial Group, shares his expertise on how to perform cultural due diligence to better understand the target company. Things you will learn: • The person responsible for cultural due diligence • Executing cultural due diligence • Using Playbooks • Successful partnership between Corporate Development and Integration • Advice for practitioners Bookmarks 00:00 Intro 04:34 Person responsible for cultural due diligence 05:36 Importance of cultural due diligence 08:38 Executing cultural due diligence 12:06 Killing the deal due to cultural conflict 18:03 Using Playbooks 21:36 Cultural due diligence during early conversations 25:19 Understanding how the target company makes decisions 28:49 Things to look for during due diligence 32:26 Using questionnaires for cultural due diligence 35:19 Bilateral deal vs. Auction process 39:46 Hardest part of cultural due diligence 43:07 Successful partnership between Corporate Development and Integration 47:21 Subculture due diligence 49:31 Advice for practitioners 51:21 Craziest thing in M&A __________________________________________________ Website: http://mascience.com/ Linkedin: https://www.linkedin.com/company/mascience Twitter: https://twitter.com/m_a_science Facebook: https://www.facebook.com/masciencepodcast/ __________________________________________________________ ABOUT M&A SCIENCE M&A Science is the world’s first community resource for M&A tips, techniques, and strategies to achieve desired outcomes and better success. We bring you behind the scene stories, proven techniques, and key takeaways of real-life M&A deals. For more exclusive content from the industry's top experts, visit mascience.com
Ken Bond, Head of Corporate Development at Cetera Financial Group. Most of the biggest M&A failures of all time are caused by culture clashes. Both companies cannot simply co-exist with each other, and instead of creating more value, they destroyed both of their businesses. This is why cultural due diligence is crucial in M&A. In this episode of the M&A Science Podcast, Ken Bond, Head of Corporate Development at Cetera Financial Group, shares his expertise on how to perform cultural due diligence to better understand the target company. Things you will learn: • The person responsible for cultural due diligence • Executing cultural due diligence • Using Playbooks • Successful partnership between Corporate Development and Integration • Advice for practitioners Bookmarks 00:00 Intro 04:34 Person responsible for cultural due diligence 05:36 Importance of cultural due diligence 08:38 Executing cultural due diligence 12:06 Killing the deal due to cultural conflict 18:03 Using Playbooks 21:36 Cultural due diligence during early conversations 25:19 Understanding how the target company makes decisions 28:49 Things to look for during due diligence 32:26 Using questionnaires for cultural due diligence 35:19 Bilateral deal vs. Auction process 39:46 Hardest part of cultural due diligence 43:07 Successful partnership between Corporate Development and Integration 47:21 Subculture due diligence 49:31 Advice for practitioners 51:21 Craziest thing in M&A __________________________________________________ Website: http://mascience.com/ Linkedin: https://www.linkedin.com/company/mascience Twitter: https://twitter.com/m_a_science Facebook: https://www.facebook.com/masciencepodcast/ __________________________________________________________ ABOUT M&A SCIENCE M&A Science is the world’s first community resource for M&A tips, techniques, and strategies to achieve desired outcomes and better success. We bring you behind the scene stories, proven techniques, and key takeaways of real-life M&A deals. For more exclusive content from the industry's top experts, visit mascience.com