战略性收购与重组培训教材(PPT 101页)

学习目标
TECHNOLOGY GIANTS’ ACQUISITION STRATEGIES AND THEIR OUTCOMES
科技巨头的收购战略以及取得的成果
‘第六次并购浪潮’
1、Increased Market Power
1、增强市场影响力
2、REASONS FOR ACQUISITIONS
2、克服进入壁垒
3、Cost of New Product Development and Increased Speed to Market
3、降低新产品开发成本和加快进入市场的速度
4、Lower Risk Compared to Developing New Products
4、比开发新产品的风险更小
5、Increased Diversification
5、增加多元化
6、Reshaping the Firm’s Competitive Scope
6、重构公司的竞争力范围
7、Learning and Developing New Capabilities
7、学习和发展新能力
PROBLEMS IN ACHIEVING ACQUISITION SUCCESS
阻碍收购获得成功的因素
1、Integration Difficulties
1、整合的困难
2、Inadequate Evaluation of Target
2、对收购对象评估不充分
3、Large or Extraordinary Debt
3、巨额或非正常水平的债务
4、Inability to Achieve Synergy
4、难以形成协同效应
5、Too Much Diversification
5、过度多元化
6、Managers Overly Focused on Acquisitions
6、管理者过度关注收购
7、Too Large
7、规模过于庞大
EFFECTIVE ACQUISITIONS
成功收购的特性
EFFECTIVE ACQUISITION STRATEGIES
收购战略的有效性
RESTRUCTURING
重组
精简与收缩相比
Downsizing:
精简:
Downscoping:
收缩
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