Culture pervasiveness and the difficulty of defining it is one of the reasons why it is attributed for many merger failures. The problem considered in this study was the unstable operating environment that existed following the acquisition of INTEC Engineering by Worley Parsons which was likely caused by differences in organizational cultures. WorleyParsons acquired SEA Engineering in 2007 and INTEC Engineering April 2008 and combined these organizations to form INTECSEA. The capabilities found in these organizations were needed for WorleyParsons ability to facilitate a comprehensive solution for their clients working in deep waters. However, one year on and INTEC's entire management team resigned and staff retention remains a major issue. To understand why this trend is occurring, this analysis will review and apply theory to the transition process to the case of INTECSEA and provide insights to the causes by identifying the effects.
Contents
Introduction
Problem Statement
2.1 Background 5
2.2 Where it all started 6
2.2.1 Worley Parsons History 6
2.2.2 INTEC Engineering history 6
2.2.3 Sea Engineering History 7
3 Aim of the Project 7
4 Objectives 9
5 Literature Review 9
Overview of 9
5.1 Mergers and Acquisitions 9
Phases of Mergers and Acquisitions 9
5.2 9
5.3 M&A Trends 10
6 M & A Due Diligence 11
7 Organisational Culture 11
7.1 Defining Culture 12
8 Culture change 14
8.1 Role of Culture in merger and acquisitions 14
9 Mergers and acquisitions cultural approach 16
10 Organizational culture change 19
10.1 Creating Culture Change 23
10.1.1 Cultural approach 23
10.2 Reaction to change in mergers and acquisitions 23
10.2.1 Reaction to change 24
10.2.2 Factors causing resistance to change 25
10.2.3 Appearance of resistance 25
10.2.4 Managing Resistance 26
10.3 Significant factors of organisational culture for integration 27
10.3.1 The role of management 29
11 Methodology 30
12 Data Collection 32
13 Data Collection and Verification 33
14 Research questions 34
15 Conclusion 35
15.1 Recommendations 36
16 Bibliography 38
1 Introduction (tell the reader what the report is about) 4
2 Problem Statement 5
2.1 Background 7
2.2 Where it all started 7
2.2.1 Worley Parsons History 7
2.2.2 INTEC Engineering history 8
2.2.3 Sea Engineering History 9
3 Aim of the Project 9
4 Objectives 9
5 Literature Review 10
Overview of 10
5.1 Mergers and Acquisitions 10
Phases of Mergers and Acquisitions 10
5.2 10
5.3 M&A Trends 11
6 M & A Due Diligence 11
7 Organisational Culture 12
7.1 Defining Culture 13
8 Culture change 15
8.1 Role of Culture in merger and acquisitions 15
9 Mergers and acquisitions cultural approach 16
10 Organizational culture change 19
10.1 Creating Culture Change 23
10.1.1 Cultural approach 23
10.2 Reaction to change in mergers and acquisitions 23
10.2.1 Reaction to change 24
10.2.2 Factors causing resistance to change 25
10.2.3 Appearance of resistance 25
10.2.4 Managing Resistance 26
10.3 Significant factors of organisational culture for integration 27
10.3.1 The role of management 29
11 Methodology 30
12 Data Collection 33
13 Data Collection and Verification 33
14 Research questions 34
14.1 Research limitations 35
15 Bibliography 37
Introduction (tell the reader what the report is about)
WorleyParsons acquired SEA Engineering in 2007 and INTEC Engineering April 2008 and combined these organizations to form INTECSEA.
WorleyParsons, after over three years of pursuing the acquisition, finally acquired INTEC Engineering in April 2008 (now known as INTECSEA). INTEC is a leading international offshore deepwater Hydrocarbons engineering and project services company with its many years of experience and a strong reputation. This organization was acquired to complete the missing link in Worley Parsons' hydrocarbons business and strategically positioned the company to provide comprehensive solutions for large scale integrated deepwater facilities, subsea, and marine systems projects.
In 1984 INTEC Engineering began operations by providing offshore Hydrocarbons engineering and project management services in the Oil & Gas Industry, and over the past twenty eight years has diversified locally and internationally, employing more than one thousand professional staff in four continents. The London office is the focus of this research and employs approximately two hundred staff members. Whilst it has a strong and growing credibility for successfully completing a range of complex projects, it is perhaps the track record of involvement in major trunk line and offshore pipeline projects for which the reputation of the company is most known for.
The acquisition of INTEC filled a needed gap in WorleyParsons hydrocarbons industry capabilities which they had...
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