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‘Some of them are almostexample of how mega-mergers canpsycho-pathological and would havework. It is successful, but much of50 no hesitation taking everyone down95 that success is dependent on thewith them. Some are verging on8fact that key personnel were readyparanoid.’ Nevertheless these arefor retirement, or were prepared toprecisely the sorts of personalitiesrelinquish8 old roles in favour ofthat companies want because theynew opportunities in other55 can transform a business; the100 scenarios.problems only appear when theyCompromise8 is essential ifhave to get together with peers inmergers between two powerfultheir organisation who don’t sharecorporations are to work to thetheir views.
Then clashes areadvantage of both parties and their60 inevitable.105 shareholders. Otherwise friendlyEurope’s most spectacular and publicdiscussions break down and canbust-up was between automotiveeasily turn into all-out war. In thegiants Volvo and Renault. Incorporate jungle, the question isSeptember 1993 Volvo and Renaultnow whether the imperatives of65 announced they were to tie the knot, 110 shareholders can control the egoswith Volvo holding a minority 35%of managers, to force through dealsstake. However, three months laterthat deliver them the financialVolvo shareholders and seniorreturn they expect.
This is wheremanagement rejected the marriageindependent directors ought to play70 plans because of concerns that the115 a part, although they rarely do.deal undervalued Volvo, and wasT h e E u ropeanturning into a Renault takeover,*an ego: a person's opinion about him / herself*alpha: the highest mark in an exam*anthropology: the study of people*uncanny: strange and difficu lt to explain*streets ahead of: much better than*to outmanoeuvre: to gain an advantage by having a better plan*verging on: almost, nearly*simmering: just hidden below the surface*to relinquish: to let s.b.
else take*compromise: agreeing, w hile accepting some things you d o n 't likeCorporate Alliances and AcquisitionsReadingRead the text opposite about failed mergers, which uses the Volvo-Renaultdeal as an example, and see if it mentions any of your suggestions fromLead-in 3.Read the text again and answer the questions.1 According to the author, why should GlaxoWellcome and SmithKline Beechamhave gone ahead with their alliance?2 Why didn't the deal go through ?3 What does Nicholas Bates say about the personalities of many seniorbusinessmen?4 What reason does the author give for the success of the Ciba-Sandoz merger?5 What according to the author makes a successful merger?VocabularyChoose the best definition for the word in italics in the sentences from thetext.1 The parallels between the behaviour of corporate executives and that of great apesare uncanny.
(line 3)a similaritiesb differencesc distinctionsa2 The spectacular collapse of the supposed alliance of drug giants GlaxoWellcomeand SmithKline Beecham is a textbook example. (line 9)a unusualb interesting c perfect3 The deal gave the companies a drugs research and development budget morethan twice the size of their closest rivals. (line 17)a competitorsb partnersc friends4 Corporate egos cause problems but they seem to be inevitable in a business culturethat prizes drive, determination and leadership above all. (line 30)a unavoidableb impossiblec likely5 Having the strength of personality and the ability to outmanoeuvre others is afundamental prerequisite to climb to the top of the corporate ladder.
(line 36)a step b problemc requirement6 The problems only appear when they have to get together with peers in theirorganisation who don't share their views. (line 57)a people who hold higher positionsb people who hold lower positionsc people who hold similar positions.7 Then clashes are inevitable. (line 59)a solutionsb strong differences of opinionc long discussions8 In the corporate jungle, the question is now whether the imperatives ofshareholders can control the egos of managers. (line 109)a urgent demandsb instructionsc strong personalities119unit tw elveОExpressions normally associated with marriage are often used to describemergers. Read the text again and find three examples.Find the following idioms in the text.
In pairs, discuss what they mean."чЗ^r S ^ , r^ J c ~ y \ ~/§tfvP^Р Й В ДVocabularydevelopment:phrasal verbs 212345to throw sand in each other's faces (line 26)to climb to the top of the corporate ladder (line 36)a boardroom bust-up (line 42)in the driving seat (line 83)to take a back seat (line 88)1 In the following examples from the text, are the verbs in bolda transitive (followed by an object)?orb intransitive (not followed by an object)?......
unless one personality is prepared to take a back seat orstep down, (line 89)...... otherwise friendly discussions break dow n...... (line 106)2 Replace the words in italics with a verb from A and a particle from B, in the correctform.AВcatchstandspeakendgetgo (x2)lookup (x2)on (x2)downaheadbyundera The company had hoped that the new sportswear designs would be a successbut in fact they never really became popular, caught onb They finished by having to abandon the idea altogether.c Following the recent takeover of his company the chairman has announced hisintention to resign.d I'm afraid I can't hear what you are saying.
Could you talk louder please?e He's new here, but he seems to be making progress.fMany businesses fail in their first year.g We need to think of the future and decide where we want to be in five years,h It's a pity we let that opportunity pass; we need more orders like that.120Corporate Alliances and AcquisitionsD is c u s s io nRead these profiles of some senior business people. Which of the characteristicsdo you think are essential, useful, not useful and dangerous? In pairs, discussyour answers.Danger ego our of control ЖSeven warning signsDominates conversations, commandeers meetings, interrupts and finishes offsentences of others.
Competitive in all aspects of life, not only business buttennis,'squash or drinking.Bold, doesn't worry about going into new situations and meeting new people.Has a high opinion of himself and his abilities and he always thinks he's right.Loves pressure. He likes tight deadlines, is impatient to get ahead and doesseveral things at once.st be the centre of attention at meetings, parties, social gatherings, andcan't do without attention or flattery.Loves power and the trappings. Couldn't bear to be without a chauffeur-drivencar, panelled office, secretaries and trips on Concorde.Has abnormal energy levels, is always on the go, needs little sleep, and isconstantly restless.Language FocusModal verbs ofobligationLook at the following examples from the text on page 118.Perhaps business schools sh o u ld add anthropology to the curriculum, (line 1)This is where independent directors ought to play a part, (line 114)In both these examples a modal verb is used to express mild obligation oradvice.
What do the following verbs express?1234have to a.should / shouldn'tought todon't have to5678needn'tmust / mustn'tneed todon't need toa obligation or necessityb advicec absence of obligation or necessity►► For more information on modal verbs, turn to page 168.121unit tw elveLook at the Discussion text again. W hat does the person need to change / notchange? Write eight sentences using m odal verbs of obligation.Example:He s h o u ld be competitive in some aspects of his life but he h a s to stop being competitiveabout drinking.Business Skills Focus: MeetingsListeningIt is generally agreed th at successful meetings m ake successful companies.However, m any professionals com plain th a t meetings are often unproductiveand too long. Discussions are regularly dom inated by participants w ith largeegos and hours of talking ends w ithout any clear result.
Consequently, m anycompanies get help from specialised consultants, w ho give advice on how tom ake m eetings m ore effective.1 i j t | You will hear a consultant giving advice about meetings. Listen andtake notes to help you complete the passage below.In groups, use your notes to complete the passage.If a meeting is to be productive it should have 1 a dear o,nd sboLed purpose thatall the participants know and understand.
You should appoint a2________________who manages and controls the meeting.You must write an 3________________ , or list of items to be discussed and sendit4________________. They should 5_________________ and come to it with ideasto contribute.You have to 6________________ to each point, otherwise there is a risk thatsome of the items will not be dealt with at all.You ought to 7_______________ .
If not you have to 8________________ intothe agenda.You don't need to 9________________ . But you should send other senior staffmembers 10________________ , or summary of what was discussed.The minutes should include 11_______________you don't have to12________________. However, you need to include 13________________decided upon at the meeting. Lastly, the minutes should 14_______________ .It is essential to keep the 15_______clear in everyone's mind.122Corporate Alliances and Acquisitions WS p e a k in gMatch the expressions a-j below to the following things that a chairpersonshould do.12345678910abcdefghijopen the meetingkeep things movingkeep an eye on timemake sure everyone stays focusedinvite contributionssummarise regularlyseek clarificationsummarise agreed action pointsallocate action points and establish deadlinesclose the meetingHas everyone got that?Shall we move on?As I see it, we seem to be saying ...Could you let us have the exact figures for Friday?What exactly do you mean?So what we've finally decided on is ...We'll have to move on I'm afraid.Thanks for coming everyone.What do you think of that, Mr ...?Thanks very much everyone, that was very useful.Match the expressions a-1 below to the following things that participantsshould do.123456express agreementexpress disagreementmake suggestionssummarise argumentsask for clarificationpresent argumentsabcdefghijк1I'm convinced that ...How about ...I'm all in favour of that.Why don't we ...I'm afraid I don't accept that at all.So what you are suggesting is ...Could you explain that in more detail?I'm sorry but I don't agree at all.I quite agree.The way I see it is ...Am I right in thinking that ...?In other words you are saying ...What other expressions do you know?123unit tw elveRole-play1Read the text and make notes about the situation.Your company is negotiating an alliance with a company which insists that employeesonly work 35 hours per week.
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