The Benefits of Acquisitions Management

All firms desire to enhance their operations and grow their presence in the market. In an effort to fulfill this desire, the firms invest in their capabilities. For many corporations enhancing capabilities is a daunting task that cannot be accomplished with existing resources. Acquiring services, products, resources, and equipment is among the measures that these firms resort to. This is the essence of acquisitions management. Acquisitions management enables firms to obtain the resources that they need to execute their mandate and pursue their missions. While acquisitions management plays a critical role in driving the operations of all organizations, it is especially vital for the military. Acquisitions management is an essential function that facilitates expansion and allows organizations to build their competencies. 

Principle of Acquisitions Management 

Acquisitions management is a concept that is as broad as it is complex. Essentially, it is concerned with the processes of obtaining the resources that a firm needs to perform its operations (Katz, 2013). Hutchins and Minchew (2016) authored an article that offers an example of how an organization effectively leveraged acquisitions management to enhance its capabilities. They describe North Carolina State University and its acquisition of CORAL, a program used for workflow tracking. Through this program, the university has been able to create a seamless and more effective workflow management system. The example of this institution captures the essence and significance of acquisitions management. There is a wide range of issues that constitute the principle of acquisitions management. Budgeting is among these issues. When tasked with the duty of obtaining a particular resource, the responsible party needs to ensure that the acquisition occurs successfully and within the budget (McCaffery & Jones, 2004). The budget includes the time and the monetary resources spent in the acquisition process. Acquisitions management allows firms to obtain resources within the budget. As the discussion below will reveal, acquisitions management also enhances expansion into international markets.