Stragetic Research Of Chinese Enterprises' Cross-Border M&A For Core Competences

This article concentrates on the strategic research of Cross-border Mergers and Acquisition(Cross-border M&As) between enterprises. Theoretically based on the Cross-border M&As and core competence, for the case of the electronic information enterprises of Cross-border M & A in China, the motives of cross-border M & As that took place in China are analyzed. The inevitabilities and causes are also discussed in this article, the ploblems of cross-border M & As in China and their causes of failure are found in this article. Further on, the cross-border M & As strategic mode based on core competence is put forward. Then, the mode is classified and discussed.This article used the method which the theory and the case analysis unified to conduct the research, the synthesis utilizes FDI (foreign direct investment theory), the enterprise competition theory, the enterprise Cross-border M & A theory and so on to implement the transnational merger and acquisition promotion core competitiveness to carry on the correlation theories discussion and the methodology research.Whether does the enterprise promote its core competences through the Cross-border M & A? The traditional FDI theory and the merger and acquisition theory have not given the explicit reply. The traditional FDI theory only aims at some specific country at the same time, does not have the universal significance; On the other hand is only suitable for the formidable Multinational corporation's merger and acquisition theory. The developing country transnational merger and acquisition theory cannot explain after the Chinese Enterprise joins WTO, transnational merger and acquisition agent. Through to the core competences guidance's enterprise transnational merger and acquisition theory's analysis, obtains them basically to belong to the real diagnosis to summarize or theoretical inference, to instructed the core competencies guidance enterprise merger and acquisition insufficient the practice operation still obviously. Therefore this article respectively has made the comparison to the Chinese Enterprise Newly built, the strategic alliance or transnational merger and acquisition, obtained the Chinese Enterprise to choose the transnational merger and acquisition promotion core competitiveness the inevitability, after analying enterprise transnational merger and acquisition promoting core competences this article has drawn conclusion of general theoretical: the Chinese Enterprise transnational merger and acquisition the strategic mode has not had the multiplex strength, at present still the specialization product manufacturing primarily, should obtain the technological innovation knowledge and the market marketing network primarily, take fuses both sides enterprise culture to launch as the time strategic way.This article chooses the China Electronic information Enterprises Cross-border M&As as an example, inspected China Electronic information Enterprise Cross-border M&As characteristic, the way and through the Cross-border M&As promoting core competences success or failure experience. The Lenovo Group purchases the IBMPC whole world service is a case, has carried on the confirmation to the above conclusion, obtains China Electronic information Enterprises Cross-border M&As gain core competitiveness to have the very strong learning capability, gains opposite party technology ability, the promotion brand value primarily, has analyzed that the main core competences of new Lenovo can bring what kind of competitive advantage to the enterprise, as well as to new association in competition help. Pointed out that core competences of new Lenovo has taken the correct strategic measure. We may obtain through the new Lenovo 's successful case: Promotes through the merger and acquisition international enterprise and obtains the core competetences the way to develop to the Domestic enterprise to the internationalization direction has profits from the significance obviously, hoped that the Chinese Enterprise establishes the core competences as the main purpose of Cross-border M&As strategy mentality, only then like this, the Chinese Enterprise can enter the internationalization the development path to come up positively.According to the above viewpoint and the argument, this article summarizes take the enterprise core competences raise as the guidance enterprise Cross-border M&As strategy countermeasure: Compares the superiority take the enterprise as the guidance, conformes Cross-border M&As competition essential factor, implements localilzation manages, strips the non-correlated service, developes and the renews core competences through the Cross-border M&As, according to the above has constructed the Chinese Enterprise through the Cross-border M&As promoting core competences overall strategic frame. But, in the Cross-border M&As growing to ever greater heights under the premise, is that not all enterprises may carry on the Cross-border M&As, the enterprises must have certain capital operation ability and management and operation ability, but also must have the protection risk and challenge ability.