1、商务英语专业本科毕业论文格式模板商务英语专业本科毕业论文格式模板编号： 桂林电子科技大学信息科技学院 毕 业 论 文题 目： 成功并购的秘诀 A Key to The Success of Mergers and Acquisitions 系 （部）： 外贸与外语系 专 业： 英语专业 学生姓名： 程世佳 学 号： 1356110124 指导教师： 王雪利 职 称： 讲师 题目类型：理论研究 实验研究 工程设计 工程技术研究 软件开发 应用研究2016年 5 月 16 日诚 信 宣 言我，程世佳，郑重宣布：除了参考文献所标明引用的资料和内容之外，本论文中不包含有任何已经被其他高等教育机构所接受
2、的学位或学历论文资料，也不包含有其他任何人已经正式出版的资料内容。 签字： 日期：DeclarationI, Cheng Shijia, the undersigned, hereby declare that this dissertation does not contain any material which has been accepted for the award of any other degree or diploma in any institutions of higher learning and that, to the best of my knowledge
3、and belief, this dissertation does not contain any material previously published or written by another person, except when due reference is made in the text of the dissertation. Signed: 已经在导师的指导下进行多次修改，导师已同意提交定稿。 导师签名：日 期：摘 要随着经济全球化的快速发展，企业间的竞争日益激烈。越来越多的公司或集团，为了能够在今后的市场中不被淘汰，各企业都在努力寻求一种能提高自身竞争力的有效方式
4、，来提高自己在市场占有力。并购就这样应运而生了。然而事实并不尽如人意。即使每年发生的并购活动数量繁多，成功率却不高。究其原因，就是忽视并购后整合尤其是文化上的整合造成的。并购将与企业文化密切联系起来，并购后的文化整合必须成为并购战略的关键内容。同时，一些关于并购后管理的富有建设性的建议衍生而出。此外，对一些并购案例进行的简单的分析也证实了文化整合的重要性。关键词：并购;并购后整合;企业文化;文化整合;文化冲突AbstractWith the ever-increasing development of economic globalization, competition between co
5、mpanies is getting more and more intensive. In order not to be superseded, companies have tried their best to search for an effective means which can enhance their core competitiveness. Then, mergers and acquisitions (M&As) emerge. However, the result isnt encouraging. Even if there are numerous M&A
6、 activities every year, most of them result in failure. Negligence of post-merger integration (PMI), especially cultural integration, is just the cause of the failure. M&As will be associated with corporate culture closely and cultural integration must become the main content of M&As strategies. Mea
7、nwhile, certain constructive recommendations are provided on post-merger management. Besides, some cases of M&As will be analyzed briefly to confirm the significance of cultural integration. Key words：M&As；PMI；corporate culture；cultural integration；cultural conflicts ContentsIntroduction.1I Mergers
8、and Acquisitions and Post-Merger Integration .11.1 Definition and Categorization of M&As .11.2 Implication and Significance of PMI .1II Cultural Integration Running through Four Phases of M&As1 2.1 Phase of Preparation .12.2 Phase of Transition .12.3 Phase of Integration 1 2.4 Phase of Consolidation
9、 .1Corporate Culture .1 3.1 Cultural Discrepancies and Risks 13.2 Cultural Conflicts .13.3 An Effective Executive and His Decisions on Risks-Taking .1Cultural Integration and Performances of M&As 1 4.1 Implication and Phases of Cultural Integration.24.2 Significance of Cultural Integration .2 4.3 Mo
10、des of Cultural Integration 2 4.4 Factors Determining Selection on Modes of Cultural Integration .3 4.5 Decisions on Cultural Integration .3Conclusion2References.3Acknowledgments.3Introduction Mergers and acquisitions (M&As) have long been regarded as . Mergers and Acquisitions and Post-Merger Integ
11、ration M&As are not only remarkable phenomena in modern economic life, .1.1 Definition and Categorization of M&As M&As consist of two words: mergers and acquisitions, .1.2 Implication and Significance of PMI The implication of PMI is quite rich, . Cultural Integration Running through Four Phases of
12、M&AsIt must be emphatically pointed out that cultural .2.1 Phase of PreparationWhether the preparations before. .2.2 Phase of TransitionDuring this period, both parties involved in .2.3 Phase of IntegrationIf the work of previous stage goes smoothly, . .2.4 Phase of ConsolidationIf any company integ
13、rates technology and culture at the same time. Corporate CultureCorporate culture, the crystallization of corporation and culture, . 3.1 Cultural Discrepancies and RisksDue to the uniqueness and stability of corporate culture, .3.2 Cultural Conflicts M&As activities often entail considerable risks a
14、nd cultural conflicts associated with cultural discrepancies, . Cultural Integration and Performances of M&AsM&As activities bring two or more companies with different cultural characteristics together.4.1 Implication and Phases of Cultural IntegrationCorporate culture exists just like breathing, an
15、d people will think of it only when it is obstructed .4.2 Significance of Cultural IntegrationAcculturation not only determines the success or failure of M&As, but also plays an important role in .4.3 Modes of Cultural IntegrationAn effective acculturation doesnt mean remolding a culture or instilli
16、ng one culture to another compulsively.4.4 Factors Determining Selection on Modes of Cultural IntegrationBoth at home and abroad, scholars attach great importance to factors determining acquirers selections . Selections on Modes of Cultural Integration1) M&As StrategiesM&As strategies.2) The Acquire
17、rs Original CultureInfluences of acquirers original culture are manifested through tolerance of multi-culture. According to . Selections on Modes of Cultural Integration1) The Acquired Firms Original Culture, .2) The Acquired Firms Perception of the Acquirers.4.5 Decisions on Cultural IntegrationBas
18、ed on the above analysis, . ConclusionWith the ever-increasing development of marketing economy and economic globalization, .References1 Dou Weilin, Intercultural Business Communication, Beijing: Higher Education Press, 2005.2 Drucker, P.F, The Effective Executive, Beijing: China Machine Press, 2005
19、.3 Gertsen, M.C, Cultural Dimensions of International Mergers and Acquisitions, Berlin, Germany: Walter de Gruyter GmbH&Co, 1998.4Lu Yifeng, “Cultural Integration of Chinese Companies Cross-Border Mergers and Acquisitions”, University of International Business and Economics, 2006.5 Mirvis, P.H. and
20、Marks, M.L, Managing the Merger: Making it Work, New York: Simon & Schuster Inc., 1992.6 Nahavandi, A. and A.R. Malekzadeh, Acculturation in Mergers and Acquisitions. In: Academy of Management Review, vol.13, No.1, 1988.7 Weston, J.F., M.L. Mitchell and J.H. Mulherin, Takeovers, Restructuring, and Corporate Governance, 4th ed. Beijing: Peking University Press, 2006.8 黄侦 (Huang Zhen), 本土零售企业跨区域并购的文化整合研究，贵阳：贵州大学工商管理系，2006.9 任淮秀（Ren Huaixiu）, 兼并与收购, 北京：中国人民大学出版社，2004Acknowledgments Firs of all,I would like to extend my sincere gratitude to my supervisor,.
