论文部分内容阅读
一般情况下,企业在进行并购时往往低估整合所需的时间与困难度。事实上,整合是并购活动中最为繁复、敏感和长期的工作,也是最容易为管理层忽视的领域。大量的案例表明,许多并购活动的失败不在于并购本身的技术问题(包括价格问题),往往是在并购后的整合环节出了问题,如果企业在并购之前对整合考虑欠周,之后的整合将很可能陷入不可操作的困境。甚至有一种较为“宿命”的观点认为:失败的整合往往在整合之前便已注定。因此,整合是决定并购活动成败最主要的决定因素。其中人力资源的整合与企业文化的整合是全部整合过程的重中之重。
In general, companies often underestimate the time and difficulty of integration in their acquisitions. In fact, integration is the most complicated, sensitive and long-term task in M & A activity and the area most overlooked by management. A large number of cases show that many M & A failures do not lie in the technical problems of M & A (including the price issue), which often lead to problems in the integration process after the M & A. If the enterprises consider the integration short before M & A, the subsequent consolidation will It is likely to fall into an impossible predicament. There is even a more “fate” view that failed integration often precedes consolidation. Therefore, consolidation is the most important determinant of the success or failure of M & A activity. Among them, the integration of human resources and the integration of corporate culture are the top priority of all the integration processes.