美的海外并购整合问题研究

发布时间：2018-07-31 11:35

【摘要】：2002年开始,中国企业逐步向国际化发展,开始了大规模的海外并购活动。2017年仅第一季度的海外并购数量和规模已经超过2016年全年的并购数量和规模,海外并购成为我国企业国际化战略和实现转型的重要途径。进行海外并购时,技术获取和战略转型是我国企业的主要目标,希望通过并购获取海外企业优质资产。但是,我国大多数海外并购并不理想,主要原因是因为整合不力。本文依据并购整合的相关理论对美的集团并购整合库卡展开研究,其中并购整合相关理论有企业竞争力理论、企业能力理论、系统论和协同效应论,这些理论均说明整合效果直接影响着企业的核心竞争力。此外,并购整合过程还应该遵循一定的原则,在经济新常态及“工业4.0”背景下,我国企业在海外并购整合中须遵循利润最大化和系统化原则,保证并购目标的实现,并购整合原则进一步强调了整合过程对企业海外并购的重要性。在并购整合相关理论、原则和我国企业海外并购现状的基础上,本文采用案例分析法,介绍美的集团并购库卡的全过程,阐述美的集团并购库卡的动因,即美的集团为了完善机器人行业产业链、减少技术产权风险、降低人力成本、推进“双智战略”等对库卡机器人有限责任公司进行收购,并对美的集团在整合库卡过程中存在的问题—战略整合问题、技术整合问题、人力资源整合问题和文化整合问题,进行一一详细分析。分析得出库卡被并购后的价值创造和业务层战略转型问题,机器人产业链中子公司合作与实现“智能制造”问题,避免核心员工流失与吸引机器人行业优秀人才问题,中、德文化之间与美的集团和库卡个体之间的文化差异问题。针对美的集团在整合库卡过程中存在的问题,提出相应的解决方案构想—成立专门的整合领导小组、持续不断的调整整合计划、明确战略调整思路、加强技术资源与能力整合、完善激励机制、进行跨文化培训等,并对本文进行简单总结,希望可以为美的集团和我国其他企业在海外并购整合过程中出现的问题进行指导。
[Abstract]:Since 2002, Chinese enterprises have gradually developed towards internationalization. The number and scale of overseas mergers and acquisitions in the first quarter of 2017 has exceeded the number and scale of mergers and acquisitions in the whole of 2016. Overseas M & A has become an important approach to the internationalization strategy and transformation of Chinese enterprises. In overseas M & A, technology acquisition and strategic transformation are the main goals of Chinese enterprises. However, most of China's overseas mergers and acquisitions are not ideal, mainly due to weak integration. According to the relevant theories of M & A integration, this paper studies Midea M & A integration Kuka. Among them, M & A integration theories include enterprise competitiveness theory, enterprise capability theory, system theory and synergy effect theory. These theories show that the integration effect directly affects the core competitiveness of enterprises. In addition, the process of merger and acquisition integration should follow certain principles. Under the background of new normal economy and "industry 4.0", Chinese enterprises should follow the principles of profit maximization and systematization in the integration of overseas mergers and acquisitions to ensure the realization of the goal of mergers and acquisitions. The principle of M & A integration further emphasizes the importance of the integration process to the overseas M & A. On the basis of the theories, principles and present situation of overseas M & A of Chinese enterprises, this paper introduces the whole process of Midea M & A by case analysis, and expounds the motivation of Midea M & A. That is, in order to improve the industrial chain of robot industry, reduce the risk of technology property rights, reduce the cost of human resources, and promote the "double intelligence strategy" to purchase Kuka Robot Co., Ltd. The problems of Midea in the process of integrating Kuka, such as strategic integration, technical integration, human resources integration and cultural integration, are analyzed in detail. The problems of value creation and strategic transformation of business level after the acquisition of Kuka, cooperation and realization of intelligent manufacturing in robot industry chain, avoiding the loss of core staff and attracting outstanding talents in robot industry are analyzed. The cultural differences between German culture and Midea and Kuka individuals. In view of the problems existing in the process of Midea integration of Kuka, this paper puts forward the corresponding solution conception-to set up a special integration leading group, to continuously adjust the integration plan, to clarify the strategic adjustment ideas, to strengthen the integration of technical resources and capabilities. Improve the incentive mechanism, cross-cultural training, and simply summarize this article, hoping to guide Midea and other enterprises in the process of integration of overseas mergers and acquisitions.
【学位授予单位】：河南师范大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F271;F426.6

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