Synergy potential

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The terms synergy potential and synergy effect describe the interaction of factors that bring about a synergy , i.e. promote one another.

Definitions of terms

While the synergy potential describes theoretically achievable effects under ideal framework conditions, synergy effects are to be understood as effects that result from the interaction in reality. In principle, the synergy potential or the synergy effect can be favorable, neutral or unfavorable and different for each of the actors .

Effects that arise after the start of the cooperation, but would have occurred without it having occurred, should not be described as synergy effects according to the conceptual derivation. In water management practice, these can be improvements in operational processes, which could have been achieved without the interaction, for example through benchmarking activities. However, due to the complexity of the causes, a differentiated view is only possible in exceptional cases.

Types of synergy potential and synergy effects

Various types of synergy potential or synergy effects can be found in the literature. Basically, there are three types: universal , endemic and specific . Based on the definition of synergy potential and synergy effects, the same facts apply to both.

Universal synergy potential arises in every interaction. It is therefore irrelevant whether the two actors are striving for the same product as a result of their activities or whether they come from the same industry . Universal synergy potential usually occurs in the supporting value action levels such as finance and human resources. In the best case, the bundling of these areas leads to a decrease in the specific fixed costs .

Endemic synergy potential arises in identical or similar areas of value action. It cannot therefore be achieved in principle with all forms of cooperation. It arises, for example, as a result of the bundling of production capacities or sales capacities.

Example: Paper mills often use steam to produce and dry the paper. In the case of Rhine paper , process steam is supplied from the neighboring Goldenberg power plant , where the steam was previously used to drive a turbine to generate electricity and generated by burning lignite . Since this steam has already done its "work" in the power station, has become a waste product, but is still used in the paper mill, these two production sites form a synergy. This synergy effect is that the paper mill does not have to generate the necessary process steam itself, which is costly and energy-intensive; the power plant can sell the process steam at a profit, and also save the construction or operation of cooling towers. This synergy was already included in the planning of the paper mill. If it weren't for the lignite power station, it is very likely that this paper mill would not have located there.

By definition, specific synergy potential only occurs in special cases of cooperation. Specific facts such as patents from one player and suitable sales channels from the other are to be mentioned here as examples. These three types can be effective once or permanently.

literature

• Graetz, Holger (2008): Synergy potential of a fragmented water management , p. 66 f. (see http://e-pub.uni-weimar.de/volltexte/2008/1288/ )
• Paprottka, Stephan (1996): Corporate Mergers, p. 77 f.
• Pursche, Bill (1988): Better bids: Synergies and Acquisition Prices. In: Chief Financial Officer 1988, pp. 63-64
• Richter, Frank (2002): Capital market-oriented company valuation. Frankfurt am Main, p. 306.
• Copeland, Tom, Tim Koller and Jack Murrin: Corporate Value - Methods and Strategies for Value-Based Corporate Management. 3rd edition Frankfurt am Main 2002.