戰略性收購與重組培訓教材(PPT 101頁)

學習目標
TECHNOLOGY GIANTS’ ACQUISITION STRATEGIES AND THEIR OUTCOMES
科技巨頭的收購戰略以及取得的成果
‘第六次並購浪潮’
1、Increased Market Power
1、增強市場影響力
2、REASONS FOR ACQUISITIONS
2、克服進入壁壘
3、Cost of New Product Development and Increased Speed to Market
3、降低新產品開發成本和加快進入市場的速度
4、Lower Risk Compared to Developing New Products
4、比開發新產品的風險更小
5、Increased Diversification
5、增加多元化
6、Reshaping the Firm’s Competitive Scope
6、重構公司的競爭力範圍
7、Learning and Developing New Capabilities
7、學習和發展新能力
PROBLEMS IN ACHIEVING ACQUISITION SUCCESS
阻礙收購獲得成功的因素
1、Integration Difficulties
1、整合的困難
2、Inadequate Evaluation of Target
2、對收購對象評估不充分
3、Large or Extraordinary Debt
3、巨額或非正常水平的債務
4、Inability to Achieve Synergy
4、難以形成協同效應
5、Too Much Diversification
5、過度多元化
6、Managers Overly Focused on Acquisitions
6、管理者過度關注收購
7、Too Large
7、規模過於龐大
EFFECTIVE ACQUISITIONS
成功收購的特性
EFFECTIVE ACQUISITION STRATEGIES
收購戰略的有效性
RESTRUCTURING
重組
精簡與收縮相比
Downsizing:
精簡:
Downscoping:
收縮
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