Paper代写：The influence of cultural factors on overseas mergers and acquisitions－r51due

下面为大家整理一篇优秀的paper代写范文- The influence of cultural factors on overseas mergers and acquisitions，供大家参考学习，这篇论文讨论了文化因素对海外并购的影响。在海外并购中，文化风险是影响并购结果的最大因素。文化风险，是指企业在海外并购过程中，由于并购双方存在环境文化差异、企业文化差异以及员工文化素质差异，导致并购双方文化信息不对称，而给企业海外并购整个过程带来的不确定性和潜在威胁。

With the rapid pace of overseas mergers and acquisitions in China, the number and scale of mergers and acquisitions have obviously risen. However, most mergers and acquisitions have failed, and China has paid huge tuition fees. After analyzing the failure cases, it is found that cultural risk is one of the key factors that lead to the high failure. The cultural risk is caused by the difference between the national culture, the enterprise culture and the staff's cultural quality. Cultural integration has undoubtedly become an important factor affecting the success or failure of mergers and acquisitions. Therefore, a planned cultural integration can ensure a smooth merger.

In the nearly 20 years of surging international capital markets, cross-border mergers and acquisitions is undoubtedly one of the most glorious business activities. With the implementation of the strategy of "going out" and the need of enterprise development, the overseas mergers and acquisitions of Chinese enterprises have also shown exuberant vitality. More typical mergers and acquisitions have mobile acquisition Pakistan Communications Company, CIC shares Black Stone, ICBC acquisition of South African Standard Bank, the State Grid acquisition of the Philippine National Grid 26 years of Operation Rights, PetroChina, Sinopec to buy a number of energy companies, Minmetals group to buy Australian OZ Minerals and so on. However, due to the lack of overseas mergers and acquisitions experience, various problems in the process of mergers and acquisitions, and the most far-reaching problem is the management of corporate culture risk. According to the data, although the mergers and acquisitions boom has contributed to economic growth, 60% of corporate mergers and acquisitions have failed to achieve the desired commercial value, and 2/3 of them fail because companies fail to understand and avoid the cultural risks of mergers and acquisitions.

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2004 SAIC's takeover of Ssangyong, the fourth-largest auto maker in South Korea, has been a major problem after mergers and acquisitions in what the industry sees as a "winning deal", culminating in failure. After the merger, SAIC not only found that Ssangyong research and development technology expected to yield too high, and due to corporate culture, national culture, and other major differences, management and labor unions have repeatedly broken down, the trade unions repeatedly strike rallies, after the acquisition of cooperation and business expansion can not really start. By 2009, when the Korean court declared Ssangyong's bankruptcy and entered the corporate-retrogradation process, it officially declared a complete failure of the merger, once seen as a successful overseas takeover of Chinese auto companies. SAIC also has to face about 30. 7.6 billion yuan of assets impairment losses and diluted to 11.2% of the shares.

In addition, Spain's Wenzhou shoe city's "shoe-burning incident", CNOOC's failure to buy unocal, Ping ' an high price to buy Fortis shares of the huge losses, Chinalco's takeover of Rio Tinto was defaulted and other failures of many cases of mergers and acquisitions all show that cultural factors or cultural risk of the harm.

Faced with many Chinese enterprises to break through difficulties and finally completed overseas mergers and acquisitions, after painstaking management, but trapped in corporate culture, died of corporate culture, we have to admit that the study of cultural risk has become more and more important.

The cultural risk of overseas mergers and acquisitions refers to the uncertainty and potential threat to the whole process of mergers and acquisitions, because of the differences of environmental culture, corporate culture and staff cultural quality between the two sides in the process of overseas mergers and acquisitions. The differences between the host country and the motherland, the cultural difference between the enterprise and the target enterprise, the cultural difference of the enterprises and the technological culture are unavoidable.

The difference of international culture includes the difference of whole social culture and national culture. Different national culture can be manifested as the adaptation of natural factors such as geographical location, climatic environment and resource distribution, and the peculiar habits, beliefs and modes of thinking formed by people. The enterprise culture, the staff individual quality all is in the country's social culture, the national culture and the regional culture environment, according to the action should abide by the faith, the rule, the custom and the tradition and so on establishes, the training. Any enterprise's value idea, the behavior criterion, the system standard all have played the social culture, the national culture, the regional culture brand. The national culture often includes the natural attitude, the view of the rule idea, the position, the right, the individual, the collective and the time idea, the communication and the way of thinking, the interpersonal relationship.

At present, for Chinese enterprises, the most prominent impact is the foreign people on China's human rights issues, food safety and sweatshops and other aspects of prejudice. These biases have led to the rejection of Chinese companies and local corporate culture by foreign people, making mergers and acquisitions of Chinese companies more complex and difficult.

Corporate culture is the enterprise in the long-term management process, in order to solve the problems of survival and development, formed by the members of the organization is believed to be effective and share and common adherence to the basic beliefs and perceptions, and the resulting cognitive and organizational behavior and organizational image. It permeates all aspects of enterprise management, leading the direction and strategy of the enterprise, while supporting all business management content. It will be the company's employees together, driving the sustainable development of enterprises, but also support the core competitive advantage of enterprises. Corporate culture includes leadership style, personality of CEO, management decision-making process, communication and communication style, salary and retirement system, marketing strategy, performance appraisal and reward method.

The enterprise culture is not only the product of the material environment, but also the product of the humane spirit, is the ideal goal, the value standard, the basic belief and the behavior norm which the enterprise all staff cultivates in the long-term production and operation activity to observe, is along with the enterprise culture construction together forms. Therefore, the ideological quality, culture and technical quality of the employees, especially the senior managers, directly influence and restrict the formation, development, level and level of the enterprise culture. At the same time, the enterprise culture also profoundly affects the value orientation and behavior of employees. A highly qualified cross-cultural management team has a key impact on the integration of mergers and acquisitions culture. Chinese enterprises should attach great importance to the reserve of strategic talents and train and recruit international talents as early as possible in order to meet the unexpected demand of the future.

The cultural risk of overseas mergers and acquisitions if they can be scientifically managed, they will improve the performance level of overseas mergers and acquisitions; on the contrary, when cultural differences are neglected or not properly guided and coordinated, evolving into cultural conflicts will have a devastating effect on overseas mergers and acquisitions. Therefore, cultural risk has two sides, should rationally use cultural differences, promote cultural integration, play a different cultural advantages.

Cultural integration does not begin after mergers and acquisitions, but is always a process. The integration of corporate culture requires careful planning, according to the cultural differences between the two sides, as well as prior to the work of the estimation of difficulty, set the work steps and time nodes, and according to the actual situation to continuously revise the plan, so that the integration of corporate culture work gradually.

All basic work must be done ahead of time before the merger. In selecting the target enterprise, the successful mergers and acquisitions need not only consider the strategic target of the Enterprise merger and acquisition, also need to use the Human Resources department, management consulting company, the Chinese Consulate in the local, etc., in advance to the target enterprise's national culture, corporate culture, core staff value orientation, etc. to conduct detailed research, evaluation of the company's values, leadership , management system and other aspects of the risks, fully understand the value of mergers and acquisitions after the leverage. The ability and stability of the core team are also important for the realization of the value of mergers and acquisitions. The Human resources department should identify key employees and understand their values as soon as possible and try to make them manifest in the values of the new company.

The main purpose of this is to assess the compatibility of the two cultures and facilitate the cultural integration after the merger. If the target enterprise and the company do not have the possibility of cultural marriage, then it should be determined to give up, choose other feasible options, otherwise enterprise mergers and acquisitions will be unable to match the corporate culture and loss of heavy.

In recent years, the rapid rise of the "China Threat Theory" has made the Western countries face the merger of our country, especially the acquisition of resources, fearing that our country's cross-border mergers and acquisitions will threaten their national security. CNOOC's bid for Unocal overlooked this point, not only without the support of the American public and public opinion, but by a strong reaction from the American people and a premature death. Lenovo, before acquiring IBM's PC business, hired McKinsey to do a thorough due diligence to assess the likelihood of mergers and acquisitions, making the new Lenovo understand and grasp the risk response.

In the course of business dealings, it is necessary to use the high-level staff of both sides to contact, through a variety of channels to let the other side understand that they are a responsible company, mergers and acquisitions is a mutual benefit, and imperceptibly to carry out cultural indoctrination, to find the cultural interface between the two sides, understand each other's culture at the same time let each other And let the other side think that the success of mergers and acquisitions will bring more advanced elements of their own culture. Only by enhancing the mutual understanding and recognition of each other's culture, understand where the different ideas will collide in order to lay a good cultural foundation for future mergers and acquisitions.

In the organization of mergers and acquisitions negotiations, to make a preliminary planning of cultural integration, to seek a mutually acceptable integration program. Mergers and acquisitions can not have the mentality of the occupying forces, but to stand in the perspective of mergers and acquisitions of enterprise management personnel and staff to consider problems, arrange work, so that they feel respected, is mutual equality, so as to win the other side of the understanding and respect, to ensure the stability of the personnel after the merger and In particular, in the current Western countries on our country misunderstanding, doubts and constantly difficult environment, this can reduce the other side's suspicions and concerns, promote mergers and acquisitions, to avoid the loss of talent and customers.

According to the strong and weak comparison of corporate culture between the two sides, mergers and acquisitions can be divided into three categories, that is, cultural intensity, strong culture, weak culture and weak cultural acquisition. According to these three kinds of situations, cultural integration can be divided into four kinds of models: infiltration, injection, separation and promotion. The choice of integration mode is directly dependent on the corporate culture comparison and the strategic positioning of the enterprise culture after the merger.

No matter which model the enterprise adopts, we should pay attention to the following points:

Build a culture that can enhance the value of the enterprise. The core aim of the enterprise culture is to continuously promote the core value of the enterprise, or to enhance the core competitive advantage of the enterprise. Therefore, in the cultural integration, we must first consider what kind of culture can continue to enhance the core value of the enterprise. It is much more important to retain a subculture that can continuously promote the core value of the enterprise than to the cultural unification, but to replace it with a culture that harms the core value of the enterprise.

To contain cultural differences, emphasize the commonness of both cultures, strengthen communication, respect each other's culture and absorb its advanced culture. At present, most of the enterprises overseas mergers and acquisitions in China are mature enterprises in the West. Their own corporate culture is deeply rooted in the history of the organization, long, deep-rooted, profound impact on the value of employees and behavior patterns. If the way of oppression is adopted, it will inevitably be obstructed, causing a great loss of talent. Therefore, Chinese enterprises engaged in overseas mergers and acquisitions must pay attention to absorbing the advanced factors in foreign corporate culture, to its dross, take its essence, and more communication, so that their own culture or new culture to be recognized by each other.

To seek the support of senior management and to solve the problem of labour and employment rationally. Mergers and acquisitions are a big change for the acquirer, and most people will have a sense of crisis. Before and after mergers and acquisitions, enterprises will have greater turbulence, to achieve cultural integration, the support of senior managers is essential. After the merger of the cultural integration process, they choose the enterprise culture integration requirements, easy to the entire enterprise support, their integration with the behavior can also play a very good lead role, will be more beneficial to integration. The power of trade unions in the western developed countries is very strong, which is very different from the current situation of China's cheap labor to get low-cost, and if the Chinese model is copied, it will inevitably cause violent conflicts.

Establish the management change target system. It is to comprehensively consider the overall requirements of the merged enterprise change from four aspects of strategy, organization, system and culture. After the target system of management change is determined, the Chinese enterprises need to take different measures to analyze the degree of acceptance of cultural change and the urgency of cultural change from the angle of two latitude of the organization to carry out the change in Chinese enterprises and overseas merged enterprise culture.

Set up full-time personnel, according to the steps of cultural integration. There is a lot of work to be done in the process of enterprise mergers and acquisitions, can not be dragged, can not expect overnight, should use the standardized assessment technology, the target enterprise to conduct a comprehensive evaluation, and after a long period of time after the deal with the target company in the management and business practices differences, Establish a coordination group composed of the key figures of the dominant company and the target company, use these full-time personnel to coordinate the conflict between the two cultures, gradually promote the management idea, manage the way, and finally achieve the unification of mergers and acquisitions. In addition, these full-time staff will be responsible for the cultural training of employees, promote mergers and acquisitions enterprises and cultural exchanges and so on.

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