While feedback plays a key role in organization effectiveness, it is so oversimplified in the management literature as to become almost useless as a tool for understanding or improving organizations. Much of the current work on feedback is so narrowly focused that it fails to make its potential contributions to organization effectiveness. Using the special case of postacquisition integration as an illustration, the paper develops the concept of feedback in more detail, uses this to explain problems in organization performance from a feedback systems perspective, and suggests ways that feedback systems can serve as the focus for interventions to facilitate managed change.