并购失败七成是由于整合的失败,而整合失败七成是由于文化融合失败并购是除了内部成长以外的另一个重要的甚至比前者更为重要的企业成长方式。作为一个复杂的系统工程,并购的全过程一般被分为准备阶段、谈判阶段以及整合阶段三个阶段。以系统的视角看并购后的企业整合问题,就要关注并购系统的整体性与关联性。要判断一个并购的成功与失败,就应该把并购的 The failure of mergers and acquisitions is due to the failure of integration, and the failure of integration of 70% is due to the failure of cultural integration. M & A is another important or even more important way of business growth than internal growth. As a complex system engineering, the whole process of M & A is generally divided into three phases: preparation phase, negotiation phase and integration phase. A systematic perspective on the post-M & A business integration issue should focus on the integrity and relevance of the M & A system. To determine the success and failure of a merger, it should be mergers and acquisitions