A Research On M&A Policy Of Enterprises Based On Core Competence

M&A of enterprises, as an enterprise behavior in the surrounding of the market economy, has come through one hundred years in west developed capitalistic countries. With economy globe coming nearly, west countries raise a new extensive M&A again. Twenty years' M&A practice argue that, M&A of enterprises has get rid of many macro and micro-economics problems. At the time of enterprises changing in nature, M&A of enterprises will get more and more important for us. Through property right transformation, M&A can reorganize the state corporation strategically, accelerate capital factors fluxion rationally, even point out an effective approach for enterprise grow.However, our country realize a little about its disciplinarian and theory due to put M&A of enterprises into practice recently, result in our corporations are short of academic basis at present. At the same time, west theory are out of dates and doesn't match with our base, that embarrass M&A of enterprises in our country. This paper reviewed west M&A theory, discovered M&A motivation in west and our country. Farther, aiming at the existent problems in enterprises, the thesis emphasizes that enterprise should take attention to strengthen the core competence. The paper researches M&A policy found on enterprise different core competence in the round. Associate with the successful cases, the paper present the holistic frame about M&A policy, then give a brief analysis from five sides of the core competence respectively. They are inner manager core competence . marketing. study. technology innovation. enterprise culture and system integrated. Last, this paper comments on the performance simply.The innovation of this paper consists, go deep into the enterprises, saw about the M&A motivation, dream up the holistic frame about M&A policy, and analysis M&A policy base on the five sides of core competence respectively. They are inner manager core competence. marketing. study. technology innovation. enterprise culture and system integrated. The conclusion of the paper offers a reference in practice and in theory.