【作者】 董辉娜；

【导师】 安玉琢；

【作者基本信息】 河北工业大学 ， 企业管理， 2007， 硕士

【摘要】 在激烈的市场竞争中,并购己经成为企业迅速扩张、实现跳跃式发展的重要途径。自19世纪末以来,全球已发生了五次大规模的企业并购浪潮。我国自改革开放以来,由于宏观经济的快速增长,在经历过两次大的并购浪潮后,目前已进入第三轮并购浪潮。当今世界经济格局的变化和国际竞争的白热化,使企业间的并购活动日益频繁,规模越来越大。但与日益高涨的并购金额和数量巨大的并购案例相比,企业并购的成功率并不高。并购失败和没有任何效果的并购活动占并购活动总数的42-46%。国内外学者为此作了大量调查分析,普遍认为并购过程中缺乏有效的整合措施是导致并购失败的关键因素。战略整合是企业并购其它要素整合的先导,贯穿于并购整合的全过程,涉及企业战略的各个层次,如果被并购企业的战略不能与收购企业的战略相互融合,并在融合的基础上制定全新的战略,那么两者之间很难发挥出战略的协同效应。因此,对企业并购的战略整合进行研究具有重要的理论意义与实践意义。本文首先从战略整合相关理论入手,总结国内外理论研究与实践研究的成果;然后依据战略层次理论,论述了企业并购的战略整合内容;根据并购双方战略依赖性与组织独立性需求,归纳了四种典型的战略整合模式,并对其进行了具体分析与对比。其次构建了战略整合的过程,并对整合过程进行项目管理,建立整合管理办公室,引入整合经理,从而确保整合工作的顺利进行。最后通过一个典型案例,对战略整合的实际操作进行具体的分析。本文通过研究企业并购的战略整合工作,试图为企业并购的整合行为提供理论上的参考和实践上的借鉴。更多还原

【Abstract】 With the increasing market competition, the M&A of enterprises is an important way to achieve the rapid expansion and the development in jumps. Since the end of the 19th century, the world has undergone five mass waves of corporate mergers and acquisitions. Since China’s reform and opening up, because of the rapid growth of macroeconomic, experienced two major waves of mergers and acquisitions, it has entered the third round of mergers and acquisitions wave.With the change of world economic structure and intensified international competition, M&A activity between enterprises is increasingly frequent and the scale is growing. But compared with the increasing M&A amount and huge number M&A cases, the success rate is not high. Studies show that the defeat and not any effect accounts for 42-46%. Many domestic and foreign scholars have made much survey and research, generally believe that the lack of effective integration measures is the key factor leading to the M&A failure in M&A process. Strategy integration is the forerunner of other elements integration, throughout the entire M&A process, involving all corporate strategic levels, if strategy of both M&A enterprises were not meet each other, and developing new strategy on the basis of cooperation, then it is very difficult to play synergy. Therefore, the research of the M&A Strategy integration was of great theoretical and practical significance.This paper begins from the Strategy Integration theory, summary the domestic and international research results on the theory and practice, then based on the strategy integration level, introduces strategy integration content and model selection. Second, elaborates the strategy integration process, takes project management into the process, constructs the integration management office and introduces integration manager. Finally, adopt a typical case to specific analysis the actual operation of the strategy integration. This paper researches on strategy integration of M&A, attempts to provide theoretical and practical reference for enterprises M&A acts.更多还原