The Companies Daimler AG Chrysler Corporation The starting situation "Merger of Equals" Clash of the Cultures complementing products Goals of the merger - increasingly competitive market in the 1990's.... -->Japan and China -> only 10 out of 30 will survive CEO: Juergen Schrempp
most profitable car maker in the world
high reputation (Mercedes)
high costs
state of the art engeneering -> conservative, efficent and safe CEO: Robert Eaton
Americas No 3.
2 times almost bancrupt
most profitable car maker in the US
simple cars
limited on US market
low cost/ high volume -> daring, diverse and creative in May 1998
stock swap ( $ 57 billion)
announced in Germany
-> 442.000 employees
-> $ 92 billion market capitalisation more takeover of Chrysler by Daimler... geographical match savings by combining research and operations improvement of competitive position in the world from Germany from the United States 3 years later... market capitalisation $ 44 billion
Chrysler group share - 60%
Daimler still 830 million profits -> they divorced in June 2007 Post-Merger Integration Team several million $
cultural sensivity workshops quality
hierachic/conservative
Collectivism
analyse and prepare in detail
titles are important
suit and tie
private orientated price
team orientated/ innovative
Individualism
spontaneous decisions/informal information
first names
casual clothes
public orientated Conclusion Exchange of employees expatriates - negative comments in the public press Synergies - Germans copied the American meeting-style
- Americans double checked their suppliers unexpected cultural problems
slight differences caused trouble
DC was aware of communication problems
failure mainly because of: The Daimler Chrysler Merger and its cross cultural communication problems... Recommendations Thank you for your attention!
Questions? better integration of management
quicker reaction on Chrysler's losses
strenghten the awareness of different cultures
better preparation of the merger serious competition Sources Tobias Wolf-The DaimlerChrysler merger - One company, two cultures (Research Paper)
http://de.wikipedia.org/wiki/Daimler_AG#DaimlerChrysler_AG_.281998.E2.80.932007.29
http://content.stuttgarter-zeitung.de/stz/page/detail.php/414429
http://www.hausarbeiten.de/faecher/vorschau/114405.html
http://www.spiegel.de/wirtschaft/0,1518,475711,00.html
http://www.scribd.com/doc/53607721/Edward-Joe-2
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The DaimlerChrysler Merger
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