Research On Restructuring And Elements Integration Mechanisms Of State-owned Enterprises

Restructuring and integration is one of the main contents of state-owned enterprises reform. The restructuring and integration of elements in SOE restructuring are important for accelerating capital accumulation and enhancing the ability to withstand risks, achieving the scientific management and enhancing the strength of SOEs, deepening the reform of SOEs and improving the assets management system, dealing with economic globalization and enhancing the international competitiveness, promoting the appreciation of SOE assets and achieving the economies of scale, optimizing the allocation of resources and promoting the optimization and upgrading of industrial structure, achieving the structural adjustment of state economy and promoting sustained and healthy development of China's economy.Western scholars carried out the studies on enterprise restructuring earlier, and their research results were abundant. However, their research backgrounds were mainly foreign companies. These research works have some limitations on time, geography and company property. Therefore, these theories are not fully applicable to the restructuring and integration of SOEs in China. Compared with Western countries, the enterprise restructuring activities were carried out later in China. Also, the size and number of enterprise restructuring activities in China were relatively small. As a result, the theories on enterprise restructuring and integration are relatively lacking. Especially for the SOEs that play important roles in national economy, research on their restructuring and integration is still not deep enough. In addition, much more comprehensive and in-depth analysis of the typical success story of SOEs is still needed.The research content of this study is the restructuring and integration mechanisms of state-owned enterprises in China. China National Automotive Industry International Corporation (CNAICO) and China Ocean Aviation Group Limited (COAGL) are two examples for case study. This study focuses on the restructuring and integration of personnel and organizational structure, strategy restructuring and integration, as well as culture restructuring and integration. Specifically, the research contents are as follows:(1) Personnel restructuring and integration mechanisms in SOE restructuring. The study proposes the strategies for personnel restructuring and integration in SOE restructuring, including the proper placement of redundant and active retain of key employees, the training and development staff and improvement of their quality, the establishment of perfect payment and security system, establishment and improvement of staff exchanges and communication mechanisms, and the improvement of incentive and restraint mechanisms.(2) Development of qualified personnel in SOE restructuring. This study proposes the ideas of the development of qualified personnel. Cultivate the knowledge and innovation type talents by determining the talent-building objectives, strengthening knowledge and skills training, and improving incentives and other measures. Build the backbone team by reshaping the core values and adhering to combination of hierarchical classification training and personalized training. Introduce high-level talents by following the responsibility of talents introduction, adhering to the strategic leading, broadening the channels of talents introduction, building business platforms and other measures. In addition, a human resource integration model is established, which includes a basic platform and three management systems. A human resource management and incentive system, which includes the virtuous cycle and dynamic balance of value creation-value evaluation-value in return, is also proposed.(3) Reconstruction of organizational structure in SOE restructuring. This study points out that the drawbacks of original enterprises must be removed, and the organizational elements should be re-integrated. Thus, improve the match degree of the organizational structure and the development strategy of the restructured SOEs. The restructuring of organizational structure in SOE restructuring must comply with the strategy development needs. Also, they should pay attention to the combination of division of labor, which is helpful to improve the operational efficiency of the restructured SOEs. In addition, choosing a reasonable organizational form is also important.(4) Strategy restructuring and integration mechanisms in SOE restructuring. The strategic planning in SOE restructuring includes fundamental analysis, strategic positioning, strategic planning, business strategies, functional strategies and strategy implementation. This study mainly focuses on the main contents of functional strategy planning and strategy implementation. The implementation framework of strategy restructuring, which includes management system, management responsibility, management model, and tracking and monitoring, is proposed.(5) Enterprise culture restructuring and integration mechanisms in SOE restructuring. The specific strategies of enterprise restructuring and integration in SOE restructuring are proposed. The measures include penetration in the rules and regulations, cohesion in training activities, blending in visual recognition and reflected in social responsibility. The closed-loop construction system of enterprise culture in SOE restructuring is proposed, which include the culture recognition system, culture transmission and landing system, culture security system and culture assessment system.(6) Case studies of the restructuring and elements integration of state-owned enterprises. CNAICO and COAGL are two examples for case study. The typical practices of these two SOEs are studied. Specifically, the restructuring and integration of personnel and organizational structure, business strategy and enterprise culture of these two enterprises are studied in detail.