Grant thornton international business report hong kong

It has to be a multi-dimensional exercise with inputs from various perspectives, including strategy, new management, organisation, business, finance and accounting, tax and legislation, information system, and human resources. Our firm serves all parts of the China market and has a client base that encompasses more than public companies and over 2, state owned enterprises SOEs and privately held businesses, as well as foreign-invested enterprises.

Each member firm [10] is a separate national entity, and governs itself and manages its administrative matters independently on a local basis. Those that fail to create such diverse teams will find they are not just losing talent — they are losing business too.

A wider culture of inclusion championed from the top is needed to create change. Unsuccessful cultural integration can lead to distractions, loss of key talents, and failure to achieve critical milestones or synergies.

No companies are cultural twins and thus careful attention is required in understanding the cultures of both merging companies and managing the integration process. Companies also take initiatives in redesigning their organisational structure, determining leadership assignments, and modifying human resources practices such as compensation and benefits.

Having said that, it is highly recommended to start any cultural assessment early and make sure that the human dimension of the combination is incorporated into due diligence and integration planning grant thornton international business report hong kong the get-go, as opposed to it being relegated to the backburner.

Second, more time should be spent on the development and implementation of the action plan. The deal was eventually scuttled in Due to their intangible nature, culture-related issues are likely to be unpredictable.

Proper communication from management — preferably with a clear vision on the integration process — can reduce scepticism and doubt. Change may create frustration and cause stress amongst employees.

Cultural integration is then left unattended or, at best, postponed to the post-deal phase. Approaches to Cultural Integration How can two different cultures be integrated to achieve full value? Allegedly, the money was embezzled and spirited out of the country in complex financial transactions, some through UK companies.

Proper management of cultural issues is the key to realise successful post-merger integration, especially from a people perspective. Apart from an analysis of cultural differences, these companies also evaluate cultural opportunities and roadblocks, which guide their efforts into the right direction.

The time spent on cultural assessment need not to be long but should be sufficient to obtain a basic understanding of the cultural and strategic backgrounds of both companies.

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Nonetheless, cultural misalignment is commonly considered a direct and indirect hurdle to success and its mismanagement can hinder a company from obtaining synergies. It is suggested that a separate cultural integration plan be studied, created, and worked upon in the early stages of a merger.

As cultural integration is one of the key factors of a successful merger, it is important to have a dedicated team to manage and oversee the whole integration process.

Over the years, he has been advising clients from almost every industry, including consumable and industrial products, health care, energy, security solutions, logistics, luxury goods, entertainment, education, banking and securities, construction and hotels, telecommunication, airline, information technology, media, food and beverages.

Grant Thornton member firms service international work through their local International Business Centres—located in 40 major commercial centres throughout the world.

Cultural incompatibilities are commonly found to have both a direct and indirect linkage to integration failures. Recruitment and retention are strategic priorities for businesses, and gender equality in leadership has become a core element of company branding.

With the cultural and strategic alignment assessments ready, organisations can reach a tailored sale and purchase agreement and formulate integration strategies that facilitate a smoother transition and a more effective integration to capture post-merger synergies.

Businesses who are succeeding are those whose policies and practices are rooted in a genuine conviction of the benefit of diversity. Cultural and strategic alignment, active management of cultural integration, as well as proper communication between management and employees, are the suggested measures that ensure smooth cultural integration and contribute to a successful merger.

Acquiring companies often underestimate the problems that different corporate cultures can inflict on a merger.

International Business Report

Addressing these issues can be a challenging task. Together with the wider international network, we help dynamic organisations around the globe unlock their potential for growth by providing meaningful, forward looking and actionable advice every day. Organisations can start with cultural assessment during the due diligence stage, which provides preliminary indications on cultural alignment or misalignment of the two merging companies and determines whether the existing cultures can be aligned with the overall business strategy.

Putting two companies together usually gives the combined entity the resources and capabilities to compete with market giants.

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When we focus on creating inclusive environments based around shared purpose and collaboration we start to see a shift.Review the Grant Thornton Annual Report.

SURVEY REPORT CFO Survey Report: New technologies revamp the finance function. Grant Thornton Salaries trends. 4 salaries for 2 jobs at Grant Thornton in Hong Kong. Salaries posted anonymously by Grant Thornton employees in Hong Kong.

Grant Thornton’s quarterly business survey of 2, businesses in 36 economies, the International Business Report (IBR), provides insight into the economic and commercial issues affecting medium to large businesses, both privately-held and public.

In the aftermath of the tax landscape created by the Tax Cuts and Jobs Act, this Grant Thornton white paper will explore how the new rules affect business entity choices. International Business Report Women in business Many businesses globally are missing out on opportunities because of a lack of diversity in senior leadership teams.

GrowthiQ How to align human capital with global business objectives.

Women in business 2018

Significantly more businesses around the world (75% in v 66% in ) now have at least one woman on the senior management team, but the proportion of the team that is female has slipped from 25% to 24%, according to Grant Thornton International Ltd.’s annual Women in Business report.

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Grant thornton international business report hong kong
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