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1、资本运营复习1、资本的含义及功能-y1p11）资本的含义：2）资本的功能：保全功能、增值功能、流动功能2资本运营的核心内容-y2p21；购并，重组资本运营的内容p193效率差异论-y3p92l许多企业经营管理效率低于平均水平；l高效率企业对低效率企业购并有利于提升其效率，从而增加社会财富；l效率取决于企业家能力，员工执行力，组织管理（如激励约束机制等）4企业并购的动机!P104(1)资本的低成本扩张;(2)扩大生产规模，降低成本费用;(3)市场份额增加和战略地位的提高;(4)提高品牌经营效率和知名度;(5)获得
2、垄断利润;(6)满足企业家的成功欲;(7)股东不愿意继续经营企业;(8)股东通过卖掉企业使创业投资变现或实现创业人力资本化;(9)企业陷入困境，通过被兼并寻求资金、技术、人才;(10)通过被兼并或交换股份，寻找有实力公司的支持(11)规避市场风险。4b并购后的整合!P1471、业务整合2、组织整合3、人员整合4、文化整合5、核心能力4c整合的原则p148(1)效益原则：目标是股东利润最大化。(2)稳定原则：稳健经营是一个企业成功的前提。(3)诚信原则：只有诚信地履行并购协议，才能让重新组合的各个股东和雇员对新的
3、企业树立信心。(4)互补原则：注意各部分要素的有机组合，达到互补的效果。如此情况下，我们该如何当老师呢？梁教授通过分享自己在实际中如何去安排复杂多样的工作任务、生活的琐事therealimplementationofthe"quasi,ruthless.Tough,"requirement,carryforwardthespiritofanail,andthecorrectivemeasuresTheimplementationofthenerveendings,donotlettherectification
4、isnotinplace,nottoretreat,thepeoplearenotsatisfied.Pinfouristoadheretothereformandinnovation.Toreformthewayofthinkingandinnovativecouragetoturnstyle,againstfourwinds,thecouragetofacethecontradictions,goodatsolvingthechronicills,daretobreaktheoutdatedcustomsa
5、ndbadhabitsHenshaunhealthytendencies,trees,freshhealthy.Thefiveistoadheretotacklingtheproblem.ThatisthewindSuJiandtheeducationsupervisioncombined,inordertoestablishanewsystemtopromotethenormalizationofstylebuilding,long-term,toenhancethepartyspiritofhonestan
6、dpragmaticpeoplethoughtconsciousaction.Thesixistoinsistonthecompletionofthethirdgrasptheoverallsituation.ActivityandendThisyearthegoalofsafetyproductionworkplanfornextyear,worktogether,topromotetheactivitiesandtheworkofproductionsafetywithbothhands,twopromot
7、ion,twonotmistake.Two,rectificationoftheoverallobjectivesandspecificobjectives:(a)theoverallpatharoundthe"fourfocus",carriedouttheoutstandingproblemsofthespecialrectification,thefullimplementationofthecentralandprovincialPartycommitteecleartherectificationta
8、sk,effectivelycurbthe"fourwinds",realizetheoverallimprovementofPartyandgovernment.Thepointis:focusonthepeople,thepeople,convenience,andresolutelycurbthebureaucraticstyleofwork;lookingtostimulate
