![]() ![]() Though this term was co-opted by corporate executives, it doesn’t refer to mergers and acquisitions as a rule. Read: What is change management? 6 steps to build a successful change management process How is synergy related to teamwork?Īt its core, synergy describes a way to work together to produce great results. The hype for corporate synergy in relation to mergers and acquisitions-combined with the potential negative effects when combined action didn’t work out-contributed to the modern-day association with synergy as a buzzword. Without the right change management process, the M&A process can fall short of its intended benefits. Integrating two businesses and the entirety of what those businesses represent-including finances, employees, products, culture, and practices-takes a lot of time and effort. In practice, corporate synergy-and especially financial synergy, which is when two companies merge finances-is hard to achieve. ![]() It’s also used when a company cross-sells another company’s work, or lends team members for cross-business product development, for example. Sometimes, corporate synergy doesn’t just describe the M&A process. Larger, merged businesses not only support one another, but they also achieve cost reductions that ultimately lead to higher profitability. This is largely due to economies of scale. In other words, two companies working together under a merger or acquisition can produce more value than the sum of their individual effects. The concept of synergy in business achieved popularity in the 1990s, when corporate executives and investment bankers used corporate synergy to gain buy-in for proposed mergers and acquisitions (M&As).Ĭorporate synergy describes the expected additional value companies achieve by merging. Synergos means “to work together” or “to collaborate.”Īt its core, synergy is about helping you effectively connect, communicate, and collaborate with cross-functional partners. This commonly misused buzzword takes inspiration from the Ancient Greek philosophy that “the whole is greater than the sum of its parts.” In fact, the word synergy comes from the Latin synergia, which was derived from the Greek word, synergos. Synergy is when two or more things-organizations, departments, or even teams-work together to produce something of value. In this article, we’ll dig into the true definition of synergy, and how to use this term-not as a buzzword-but as a driver for team growth and impact. But every word has a purpose behind its creation-and synergy is no exception. Like so many other business buzzwords, synergy has been used so frequently that it doesn’t always pack the punch it used to. A quick Google search yields list upon list of “the top 100 worst business buzzwords”-and nearly all of the lists include synergy. From freemium to hyper local, these terms are used so often that they essentially lose all meaning. However, we have almost 12 years of experience finding top talent for our clients and can do the same for you.Our team has been providing and catering to the needs of our clients since 2006.Buzzwords get a bad rap-especially business buzzwords. Our commitment and dedication to our core values are visible in our daily customer interactions and are well appreciated.Īt KC Synergy Solutions, we know that having the right people in your company is vital to any successful business, but we also understand how difficult it can be to find the right person for the job. Our goal is to bring the talented professionals together and provide the services to elite organizations across all industries, while maintaining our company core values: Customer Focus, Integrity, Innovation, technical expertise, teamwork and work ethics. We partner with executives to understand the market and cope up with innovative ideas through Business Analytics and while maintaining focus on delivering excellent service that drives customers towards the brand. Dedicated towards customer engagement, improving business with Influencers. is a technology –based software and IT Services company based in Dallas County, Texas. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |