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To highlight that one of the main causes of transformation failure relates to project governance, which is the primary responsibility of an Executive Sponsor.

The methodology was based on a combination of literature review and experience.

All too often, once a transformation project is underway, the Executive Sponsor passes the reins to the project manager and takes a back seat, with their involvement confined to Steering Group meetings or when problems are brought to their attention. This can be a very costly mistake, as weak governance is a common contributor to transformation project failure. Achieving good governance requires the Executive Sponsor, like the Project Manager, to have the right combination of “art” and “science” skills, though their roles as well as the relative balance of art and science involved in these will differ.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

This article intends to provide guidance to HR professionals and others involved in the planning and implementation of post‐merger integrations. It seeks to argue that successful integration requires an “art and science” based approach to organizational change, and to illustrate the importance of this approach by drawing on a case study project from the financial services sector.

Using a case study approach, the article describes key learnings from a financial services sector post‐merger integration project in which the author was directly involved. The problems and challenges that arose in the case study organization are described, and it is shown how these were addressed using the “Art and Science of Transformation”^TM conceptual approach to achieve a successful integration.

In the case study project, a lack of detailed integration plans and the absence of integration performance metrics, as well as inadequate understanding of the likely impact of cultural incompatibilities, were identified as representing risks to successful merger. To mitigate these risks, an art‐ and science‐based approach was implemented. This included the development of an integration performance measurement system and a communications strategy, while a phased approach was taken to the integration. Use of the art and science approach to post‐merger integration helped contribute to a financially and operationally successful merger, despite the early risks and the contrasting corporate cultures involved.

The article is based on a single case study from the Canadian financial services sector, and is written from the perspective of the author, who worked on this project as an external consultant. The specific types of problems and challenges relating to post‐merger integration will vary between organizations and sectors, but the examples discussed in this article are believed to be typical, and of value in demonstrating the importance of an art and science approach to post‐merger integration.

Post‐merger integration represents just one form of organizational change, and the “Art and Science of Transformation” approach is equally relevant and valuable to other types of projects. The evidence from previous research is that a high percentage of organizational transformations fail to meet their objectives or are abandoned before completion, with project failures most often due to a lack of attention to people‐related factors. By adopting the approach discussed in this article, organizations can help to reduce the risk of failure by achieving a good balance between the art and the science of change.

Unsuccessful organizational change initiatives are wasteful of financial and human capital resources, and may result in demoralized employees – especially if they feel that their experience and skills are not being effectively utilized in the change initiative. The Art and Science of Transformation approach helps ensure that organizational change initiatives build efficiently and effectively on available human and other organizational resources to achieve positive outcomes.

The Art and Science of Transformation framework was developed by Schroeder & Schroeder Inc. on the basis of its experience of helping organizations achieve successful change. Although other studies have examined the factors associated with successful post‐merger integration using a case study approach, the application of this framework to the post‐merger integration context is unique.

This article aims to consider why it is becoming so important for businesses to use social media, and to explore the transformational impacts on organizations and the implications for learning and development. Social media is changing the nature of business and introducing new learning and development needs. These are not confined to the specific skills required to design and implement social media strategies: in many companies, more extensive transformations of culture and organizational systems are necessary to support the new ways of working that are being driven by social media usage.

The findings are based on a combination of literature review and our own research and experience across hundreds of projects.

An organizational change readiness assessment exercise can be used to determine whether a company has the right types of skills and expertise and an appropriate organizational environment to maximize the benefits of social media participation, and to identify which areas need to be modified or strengthened. The specific requirements for change will vary by organization and industry, but few companies can now afford to neglect social media or the types of learning and development necessary to support their use as a core component of business strategy.

This work links the benefits of social media participation to leaning areas that need to be modified or strengthened.

Discusses the importance of a balanced approach to risk management.

Draws on the author's consulting experience to offer an insightful perspective.

Opines that a combination of formalized tools and techniques, alongside more qualitative ‘right-brain’ thinking is the most effective means of developing a risk management strategy.

Draws on the author's consulting experience to offer an insightful perspective.

In today’s world, organizational knowledge management has become much more important than ever before. Technological developments have made it relatively easy to collect and use almost unlimited data and information, but the ability to do so effectively and efficiently requires much more than a technical solution. Employees need the right skills and expertise to identify, interpret and apply relevant data and knowledge, and the organization must provide an overall environment that is supportive of and promotes data-driven activity, as well as the on-going learning and development that is necessary to underpin this. The paper explores some of these concepts.

Findings based on a literature review and past projects.

Transforming an organization for improved use of knowledge and learning can be expected to deliver far-reaching business benefits that justify the initial time and resources involved. Most importantly, the changes are likely to improve the firm’s ability not only to respond and adapt to changes in the business environment, but also to anticipate these in advance and stay one-step ahead of the competition.

An organizational review around this topic should consider the following questions: Are the human resource management systems, such as the performance appraisal system and the rewards and recognition system, designed to promote the types of behaviors and outcomes associated with business success in the new environment? Are employees empowered to make data-informed decisions within their own areas of work, and to form trust-based relationships with internal and external stakeholders? Are the training and development systems effective in equipping employees with the various types of skills and expertise that are important in the new business environment? Do the organizations leaders and managers value, model and promote the values and behaviors now associated with business success, such as transparency, collaboration, and data-driven decision-making? Does the organizational structure support these values and behaviors, for example by encouraging team working or ease of communication with business partners? Are there systems and processes in place for effective storage, management, dissemination and use of both tacit and explicit knowledge? Does the organization have a good understanding of the hard and soft skillsnecessary for effective use of social media in achieving business objectives, and are these in place? Are job roles based on expected outcomes rather than task descriptions, thereby encouraging greater efficiency and effectiveness as employees take advantage of new information, emerging technologies and skills development? Does the company actively seek opportunities for collaboration both within the organization and with external stakeholders, and does it have established mechanisms or processes for communication and information sharing?

Companies who have adapted well to this new data-driven, trust-based environment see positive results: a major international business survey found that respondents who were strong, effective users of business information and analytics were twice as likely to be top performers in their industry compared with those who were not heavy users of information and data.

Use of the “art and science” concept in examining this topic.

The purpose of this paper is to summarize and analyze the SEC's July 9, 2008 roundtable discussion regarding fair value accounting and auditing standards.

The paper discusses investor, auditor/accountant/actuary, and corporation views concerning the usefulness of fair value accounting, potential market behavior effects from fair value accounting, challenges in applying fair value standards, possible improvement to the current standards, and working with auditors who provide assurance for fair value accounting.

Some investor panelists said fair value provides investors with the most current and relevant information of any accounting method and some believe fair valuation is important for market integrity and trust because it is a transparent measure for valuation. Auditors are especially challenged in determining fair values in illiquid or frozen markets. Roundtable participants viewed disclosure as critical for implementation of fair valuation, particularly regarding key inputs and assumptions. Auditors and corporations would like more guidance on applying fair value accounting from the SEC and Public Company Accounting Oversight Board.

The paper provides expert guidance by experienced securities lawyers.