Location: Devon, PA
Industry: Real estate
MERGING THE PAST AND FUTURE
Berkshire Hathaway HomeServices Fox & Roach, REALTORS is the largest single-market brokerage in the U.S. One of the company’s greatest contributors to growth has been its decision to expand through mergers and acquisitions. This strategy has allowed the company to attract the best partners and agents for two decades, and has given these agents the tools they need to succeed in attending to client needs. Mergers and acquisitions have also allowed Berkshire Hathaway to offer a wide range of services, including brokerage, mortgage, title and insurance.
Quick Tip: “It is a terrible thing to look over your shoulder when you are trying to lead — and find no one there.” Franklin D. Roosevelt
Though mergers and acquisitions have led to some of Berkshire Hathaway’s greatest successes, they have also contributed to some of its biggest challenges. Typically, the company acquires businesses with similar cultures. “However, as similar as these acquired companies may be, we also realize that each company does things differently,” says president Joan Docktor. To deal with this challenge, Docktor stresses the importance of including employees in decision making, and recreating policies that suit everyone’s needs. Docktor believes that at the end of the day, aligning all employees with the big picture is of the utmost importance. “It is critical to get input and feedback from all stakeholders before making any major changes or adding any important programs to your company,” she says.