Chapter 1

Turmoil in Top Management Teams Following Mergers and Acquisitions

Out of a corporate office of 126, only six were offered positions—the rest became history. The company for the most part has since been broken apart and sold.

—Chairman of the board shortly after his company was acquired in a hostile takeover by a corporate raider

The Role of Top Management Teams

A firm’s top management team is composed of its top executives—those responsible for formulating and executing strategies for achieving the firm’s long-term goals and creating sustainable competitive advantage. Strategy making has become an increasingly difficult—and important—task given globalization trends and rapid technological change over the last 30 years. Globalization ...

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