战略管理第七章作业

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1、Chapter7—AcquisitionandRestructuringStrategiesTRUE/FALSE1.Evidencesuggeststhatacquisitionsusuallyleadtofavorablefinancialoutcomes,especiallyfortheacquiringfirm.5.Takeoversareunsolicitedandunwantedacquisitionswhichareuniformlyhostile.6.Anacquisitionoccurswhenonefirmbuysacontrollinginterestinanot

2、herfirmandtheacquiredfirmbecomesasubsidiarybusiness.7.Mostacquisitionsthataredesignedtoachievegreatermarketpowerentailbuyingacompetitor,asupplier,adistributor,orabusinessinahighlyrelatedindustry.9.Anacquisitionofafirminahighlyrelatedindustryisreferredtoasahorizontalacquisition.12.Arelatedacquis

3、itioninvolvestwofirmsinthesameindustry.14.Thelowerthebarrierstoentry,themorelikelyfirmswilluseacquisitionasameanstoenteramarket.17.Firmscanincreasetheirspeedtomarketfornewproductsbypursuinganinternalproductdevelopmentstrategyratherthananacquisitionstrategy.19.Thequickestandeasiestwayforafirmtod

4、iversifyitsportfolioofbusinessesistomakeacquisitions.26.Junkbondsarefinancialinstrumentscommonlyusedtofinanceriskyacquisitionsthatprovidepotentialhighreturnsforthebondholders.27.Synergyiscreatedbytheefficienciesderivedfromeconomiesofscaleandeconomiesofscopeandbysharingresourcesacrossthebusiness

5、esinthemergedfirm.30.Transactioncostsresultingfromanacquisitionrefertothedirectandindirectcostsresultingfromtheuseofacquisitionstrategiestocreatesynergies.33.Topmanagerstypicallybecomeoverlyfocusedonacquisitionsbecauseonlytheycanperformmostofthetasksinvolved,suchasperformingduediligenceonthetar

6、getfirm.36.Oneofthepotentialproblemsassociatedwithacquisitionsisthatthesizeofthefirmmayexceedtheeconomiesofscalegeneratedbytheacquisition.37.Oneofthemosteffectivewaystotestthefeasibilityofafuturemergeroracquisitionisforthefirmstofirstengageinastrategicalliance.45.Downscopingmakesmanagementofthe

7、firmmoreeffectivebecauseitallowsthetopmanagementteamtobetterunderstandtheremainingbusinesses.MULTIPLECHOICE1.Cross-borderacquisitionsinvolvea.acquisitionsbyfirmsfromdevelopingcountriesoffirmsindevelopedcountries.b.acquisitionsbyfi