Mergers and Acquisitions

2Content of change

Research in the field of change content focuses on factors that relate to an “organization’s long-term relationship to its environment and, thus, define its overall character, mission, and direction.” (Armenakis & Bedeian, 1999, p. 295). This is also important from a strategic perspective, as enduring firm success and sustainable corporate development requires constant change (Stadler, 2007) and firms need to meet changing and complex environmental demands (Andriopoulos & Lewis, 2009). Here, acquisitions can be part of a firm’s strategy to change the bundle of resources and capabilities by acquiring another firm to strengthen existing business models or to modify business models (Christensen, Alton, Rising, & Waldeck, 2011). ...