The combined effect of two or more business activities, divisions, or companies working together that produces a result greater than the sum of their individual parts. Often cited as justification for mergers, partnerships, or strategic initiatives.
From Greek 'synergos' meaning 'working together' (syn- together + ergon work). Medical term from 1650s, adopted by business in early 20th century, became merger buzzword in the 1980s.
Synergies are the unicorns of business - everyone talks about them, executives promise them in every merger, but studies show 70% of mergers fail to achieve their promised synergies. They're often just expensive wishful thinking dressed up in consulting jargon.
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