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When there is a transfer of ownership, cultural issues often arise. No two companies have the same business culture, and geographic differences can often attribute to those cultural discrepancies.
Cultural Differences & Management
The culture of Massachusetts differs greatly from South Carolina, and the Midwestern states differ from California, and so on. You may be wondering what these cultural differences are, and how they manifest themselves in the business and integration of combined companies. First, the way a boss handles their employees and environment is a great example of a difference in business culture. The CEO of a large company might not be as close to his or her employees as the CEO of a small company would.
As a buyer, you have to be aware of both you and your new employees’ view of power difference, otherwise you run the risk of creating confusion and misunderstanding.
Want to learn more on what to expect during a business buy or looking for guidance with buying a business? Contact the business brokers at George & Company, our experts can help you navigate the choppy waters of business acquisition.