基于企业核心能力的并购研究

【作者】 梁苏芹；

【导师】 杨波；

【作者基本信息】 东北财经大学 ， 企业管理， 2005， 硕士

【摘要】 在经济全球化的背景下,我国企业面临着来自国际和国内的双重竞争压力。在这种情况下,许多企业都把并购作为快速发展扩张的有效途径。企业并购可以促进资本迅速集中、节省培养人才、开拓市场、开发技术所需要的时间,扩大企业规模,形成生产、营销、技术、资金和管理等方面的协同作用。作为企业发展到一定阶段进行快速扩张的有效途径,并购行为克服了通过自身积累实现渐进式发展的局限,为企业实现跳跃式的发展提供了可能。然而,从我国并购的历史数据来看,成功的企业并购未如人们所期望的那么多,有的企业甚至因不成功的并购而陷入了困境。 本文以核心能力作为理论基础,对我国现实中存在的大量并购现象进行分析,探讨其发生的动因。在深刻剖析了我国企业并购失败的原因基础上,提出应当从核心能力的角度来考虑实施企业的并购策略,由此揭示了基于核心能力的企业并购行为研究的现实意义及本文的研究思路。全文研究了企业核心能力与企业并购间的关系,解释了基于核心能力的企业并购的战略前提是企业核心能力的识别及在此基础上的总体并购战略的选择,从而提出基于核心能力拓展、构筑和培育的企业并购模式选择,以及基于核心能力的企业并购后的整合管理。 作为企业扩张的有效战略,并购的最终目的应该是为企业在市场中赢得竞争优势,超越和领先竞争对手创造条件,为此,企业应从构筑、培育和强化核心能力的角度考虑并购的必要性。论文的创新在于将核心能力与并购相结合,提出基于核心能力的企业并购战略规划流程,用于对并购实践的指导。更多还原

【Abstract】 In the present background of economic globalization, Chinese companies are facing dual competitive pressures from both inside and outside. In this condition, many companies use M&A as an effective method to expand quickly. Mergers and acquisitions can accelerate capital concentration, reduce time for training talents, exploring market, and developing new technology, expand enterprise’s business scale, and generate coordination effect in production, marketing, technology, capital and management. M&A, which is took as a efficient way to expand quickly the scale of enterprise when the enterprise is on a certain stage of development, breaks through the limit of gradual development based on self-accumulation and makes the rapid development of enterprise possible. Nevertheless, from the historical data of M&A in China, we found that successful M&A were not as many as we had expected. And even, many enterprises were put in a poor situation just because of M&A.This article concentrates on the research of mergers and acquisitions (M&A) between enterprises. Theoretically based on the core competence, the motives of M&A that took place in China are analyzed and compared with that of M&A in western countries, then makes a deep analysis of major causes of unsuccessful M&A in China. On this basis, it proposes to carry out M&A strategy from core competency perspective, and explains realistic meaning of study of core competency based M&A integration. Based on an analysis of the causes of failures in acquisitions and mergers in China, this paper presents a line of reasoning for acquisitions and mergers based on core competence, researches the following issues: the relationship between an enterprise’ core competence and acquisitions and mergers, the selection of the model of acquisitions and mergers based on core competence construction and culture, the integration management following the core-competence-based acquisitions and mergers, performance appraisal of core-competence-based acquisitions and mergers.Since mergers and acquisitions is considered an effective expansion strategy which ultimately targets making the enterprises ready to win, competitive advantage, emulate and lead the competing enterprises, enterprises should consider the necessity of mergers and acquisitions from the perspectives of construction, culture and enhancement of the enterprises’ core competence. In light of the theory discussed before, this thesis’ innovative points proposes to carry out M&A from core competency perspective and use it as the guide of M&A practice.更多还原