Bancolombia: Talent, Culture and Value Creation Management in Mergers
(17 pages of text)
The case reviews the main facts related to the merger process of three financial institutions — Bancolombia, Conavi, and Corfinsura — in Colombia in 2005 and 2006. The merger decision emerges from directors and senior executives foreseeing a major upcoming market transformation, including adjustment in industry regulation, improvement in international competence, and consolidation of main players, and their response in order to adapt to the new economic conditions. Considering the fact that the success rate of merger processes is not above 30 per cent, the sustained financial results achieved by Bancolombia from the very beginning of the integration process are robust indicators that invite exploration into what was done and how it was done.
Conceived as an approach to carry out a deep analysis of the complexities associated with a large-scale organizational change effort, the case is suitable for inclusion in a course on organizational behaviour, leadership, or strategic human resource management. It may also contribute to courses and classes with different learning objectives. The purpose is to have students identify how organizational culture’s deliberate intervention can provide an opportunity for a coordinated and coherent execution of a firm’s strategy. The case enables students to identify how culture management can support the strategic objectives defined by a company by putting into operation actions directed at their implementation.
Finance and Insurance
Colombia, Large, 2005-2006
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