Five Frogs on a Log

MARK L. FELDMAN, Ph.D., is a partner and managing director ofPricewaterhouseCoopers' global mergers and acquisitions consultingbusiness - The Accelerated Transition. He provides strategicadvisory services in accelrating the capture of sustained economicvalue from mergers, acquisitions and joint ventures. He has twentyyears of international consulting experience with many of thoseyears spent in the Asia-Pacific region. He has published manyarticles and is a frequently quoted speaker who has addressedaudiences throughout the world.MICHAEL F. SPRATT, Ph.D., is also a partner and managing directorin PricewaterhouseCoopers' global mergers and acquisitionsconsulting business. He provides strategic advisory services,specializing in companies undergoing dramatic change. He haseighteen years of international consulting experience and nineyears of expereince in production management and business planningin the semiconductor and instrumentation industry. He has publishednumerous articles on transition management, value driver analysis,and value creation incentive plans. He has addressed audiencesthroughout the United States and is a popular speaker on cahnge andtransition.

• Acknowledgements xiForeword xiiiMergers, Acquisitions, and Large-Scale ChangeIntroduction: The Salado River xviiThe Seven Deadly Sins of Transitions1. Opportunity Lost 1The Dealmakers’ Nightmare2. The Ugly Truth 7Deciding Is Easy, Executing Is Hard3. More Ugly Truth 15Why Performance Deteriorates4. The Law of the Band-Aid 31The Need for Accelerated Transition5. 260 Priorities 37Economic Value Creation6. Windshield Watching in Seattle 53Early Communication and Stability7. No Secrets, No Surprises, No Hype, No Empty Promises 69Connecting with Your Stakeholders8. Five Frogs on a Log 89Launching Transition Teams9. Acute Structural Anxiety 107Organization Structure and Role Clarity10. The Two-and-a-Half-Ton Truck 119Policies and Practices11. The Ultimate Scapegoat 137Unconventional Advice About Culture12. The Blind Man’s Dog 169                                    Value Creation Incentives13. The North Bank 183Index 187

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