![]() ![]() The hype for corporate synergy in relation to mergers and acquisitions-combined with the potential negative effects when combined action didn’t work out-contributed to the modern-day association with synergy as a buzzword. Without the right change management process, the M&A process can fall short of its intended benefits. Integrating two businesses and the entirety of what those businesses represent-including finances, employees, products, culture, and practices-takes a lot of time and effort. In practice, corporate synergy-and especially financial synergy, which is when two companies merge finances-is hard to achieve. It’s also used when a company cross-sells another company’s work, or lends team members for cross-business product development, for example. Sometimes, corporate synergy doesn’t just describe the M&A process. Larger, merged businesses not only support one another, but they also achieve cost reductions that ultimately lead to higher profitability. ![]() This is largely due to economies of scale. In other words, two companies working together under a merger or acquisition can produce more value than the sum of their individual effects. The concept of synergy in business achieved popularity in the 1990s, when corporate executives and investment bankers used corporate synergy to gain buy-in for proposed mergers and acquisitions (M&As).Ĭorporate synergy describes the expected additional value companies achieve by merging. Synergos means “to work together” or “to collaborate.”Īt its core, synergy is about helping you effectively connect, communicate, and collaborate with cross-functional partners. This commonly misused buzzword takes inspiration from the Ancient Greek philosophy that “the whole is greater than the sum of its parts.” In fact, the word synergy comes from the Latin synergia, which was derived from the Greek word, synergos. Synergy is when two or more things-organizations, departments, or even teams-work together to produce something of value. In this article, we’ll dig into the true definition of synergy, and how to use this term-not as a buzzword-but as a driver for team growth and impact. But every word has a purpose behind its creation-and synergy is no exception. Like so many other business buzzwords, synergy has been used so frequently that it doesn’t always pack the punch it used to. A quick Google search yields list upon list of “the top 100 worst business buzzwords”-and nearly all of the lists include synergy. From freemium to hyper local, these terms are used so often that they essentially lose all meaning. To learn more about Synergy Solution Group, visit their website or view the Top 3 Reasons to Work with Synergy Members (PDF).Buzzwords get a bad rap-especially business buzzwords. You benefit from the combined knowledge and experience of our members across the country and still enjoy the personal attention and caring of a locally owned HVAC company.You can make informed, solution-oriented decisions because our members present all of the options as manufacturer-independent partners.You will be working with a pre-screened and vetted provider who is one of the most technically advanced contractors in the country.Synergy Solution Group Members can address your needs on a national, regional, or local level.Why Do Business with a Synergy Solution Group Member? With 2,100 combined years of experience within the group, no problem is unsolvable. The Synergy Solution Group performs a rigorous selection process to ensure only the nation’s premium providers are offered membership.Īs a Synergy member, our entire team has constant access to state-of-the-art training, a collective of peer-provided resources, and the most creative minds in the industry. The Synergy Solution Group is more than an association of independent contractors: it is a progressive, tight-knit community of HVAC and mechanical professionals who are dedicated to excellence, education, and customer service. Cooper Oates is a founding member of The Synergy Solution Group, a national organization of the country’s best commercial mechanical companies. ![]()
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