| Chapter 1: | Introduction |
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Figure 1.2. Strategic and organisational fit as a means of selecting acquisition candidates.
Source. Arthur D. Little, Inc. (n.d.).
1.2.3.2. Improving Performance by Improving the Process
The process tradition in the strategic management discipline as a whole is based on the recognition that the way in which strategies are developed and implemented influences both the content of the strategies themselves and their outcomes (Bower, 1998). The effect of various aspects of organisational and human behaviour received much scholarly attention in the 1960s and 1970s. And Johnson et al. (2003) suggested that the contributions of the process tradition to strategic management, which builds on these, have been significant since the 1970s. No significant strategic management process tradition in the M&A domain, however, emerged until the mid-1980s, following the seminal articles of Jemison and Sitkin (1986a, 1986b), who make three key points that underpin much subsequent work in M&A research and provide a context for understanding better the traditional view of performance improvement: