Acquisition refers to the scenario that occurs when one company decides to purchase the shares of another company. The acquisition is said to have taken place when the buying company gets over 50% of the target company shares. To achieve success in the acquisition process, there is a need to exploit contracting competencies and knowledge. The process of contract management provides an ideal opportunity for acquisition activity to take place efficiently. Before embarking on the acquisition, an organization needs to invest significantly in advancing their functional competencies and advancement of the employees' skills or the staff in the organization ( Čirjevskis, 2017) . Managers have an essential role to play in the acquisition. They need to have a well-founded understanding of the contracting process's intention and how it is designed to support the organization's or the company's strategy. Business monitoring and collaboration have a huge impact on the process of acquisition. Professionals overseeing the acquisition process's implementation need to understand the business and the industry in which they operate and the need for service. Managers need to support rather than undermine the acquisition process.
Value addition is essential in the acquisition process; collaboration in business and monitoring impact the acquisition process. Knowledge management, conflicts, culture, and communication are essential to suppliers and business partners and play a significant role in facilitating internal processes such as supply chains and necessary interactions in the organization. Possessing competent and proactive contracting requires the utilization of knowledge, resources, abilities, and skills. Advancement of contracting is not limited to the organization's suppliers or customers. Rather, on the international relations among fi=ucntional businesses to develop a smooth and lean contracting process.
Delegate your assignment to our experts and they will do the rest.
Business acquisitions are an essential activity in the business world. Many businesses increase in size and increase business and market control through acquisitions. To achieve success in acquisition, there is a need to invest in human resource skills and competencies.
Reference
Čirjevskis, A. (2017). Acquisition based dynamic capabilities and reinvention of business models: bridging two perspectives together. Entrepreneurship and Sustainability Issues , 4 (4), 516-525.
