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页数:19页
时间:2018-12-20
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1、CulturalIntegration---AKeytotheSuccessofMergersandAcquisitions[Abstract]Withtheever-increasingdevelopmentofeconomicglobalization,competitionbetweencompaniesisgettingmoreandmoreintensive.Inordernottobesuperseded,companieshavetriedtheirbesttosearchforaneffectivem
2、eanswhichcanenhancetheircorecompetitiveness.Then,mergersandacquisitions(M&As)emerge.However,theresultisn’tencouraging.EveniftherearenumerousM&Aactivitieseveryyear,mostofthemresultinfailure.Negligenceofpost-mergerintegration(PMI),especiallyculturalintegration,is
3、justthecauseofthefailure.M&AswillbeassociatedwithcorporateculturecloselyandculturalintegrationmustbecomethemaincontentofM&As’strategies.Meanwhile,certainconstructiverecommendationsareprovidedonpost-mergermanagement.Besides,somecasesofM&Aswillbeanalyzedbrieflyto
4、confirmthesignificanceofculturalintegration.[Keywords]M&As,PMI,corporateculture,culturalintegration,culturalconflictsiii文化整合---企业并购成功的关键[摘要]随着经济全球化的快速发展,企业间的竞争日益激烈。为了能够不被淘汰,各企业都在努力寻求一种提高自身竞争力的有效方式。并购就这样应运而生。然而事实并不尽如人意。即使每年发生的并购活动数量繁多,成功率却不高。究其原因,就是忽视并购后整合尤其是文化上
5、的整合造成的。并购将与企业文化密切联系起来,并购后的文化整合必须成为并购战略的关键内容。同时,一些关于并购后管理的富有建设性的建议衍生而出。此外,对一些并购案例进行的简单的分析也证实了文化整合的重要性。[关键词]并购并购后整合企业文化文化整合文化冲突iiiContentsIntroduction…………………………………………………………………………………...11.M&AsandPMI…………………………………………………………………….…......21.1DefinitionandCategorizationo
6、fM&As……………………………………………....31.2ImplicationandSignificanceofPMI…………………………………..……………...42.CulturalIntegrationRunningthroughFourPhasesofM&As…………………………42.1PhaseofPreparation…………………………………………………………...............52.2PhaseofTransition…………………………………………………………………….52.3Phas
7、eofIntegration……………………………………………………………………52.4PhaseofConsolidation………………………………………………………………...63.CorporateCulture…………………………………………………………………….......63.1CulturalDiscrepanciesandRisks………………………………………………………63.2CulturalConflicts…………………………………………………….......................
8、......73.3AnEffectiveExecutiveandHisDecisionsonRisks-taking...........................................84.CulturalIntegrationandPerformancesofM&As………………………………………94.1Implicati
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