填空题 Involving staff in management buy-out (MBO. negotiations can help smooth the path for the future. Employees are becoming increasingly familiar with the (26) and instability that their working environments can present. It's not just mergers and acquisitions that can (27) the situation. Internal MBOs can also be particularly (28) for employees. In some cases, the MBO takes place to save an (29) company. In others, it is the result of senior management and board disagreements, or is to prevent a hostile takeover bid. Whatever its origins, those lower down the corporate ranks can often (30) the equation, wondering what is to become of them. This (31) can be very damaging. One of the most important factors, often not considered during the process of an MBO, is the reaction of the workforce, yet it is those employees who more often than not can make or break the future success of any new management team. Including them in any buy-out discussions can improve the new company's future (32) . By maintaining channels of communication across the floor, new management teams could find the rank and file a useful ally in the bid to take over.
Showing those employees that a buy-out could be (33) , creating new opportunities for promotion or career development, will in the long-term be advantageous to the entire company. The challenge for new management teams should be to re-inspire employees. This requirement is particularly (34) when a company has failed or when staff have lost (35) the previous management. If the new team doesn't engage old employees in future plans or consider the contribution they can make, the idea that the MBO was meant to save everyone is lost.