Integration Of Research, Based On The Acquisition Of Core Competencies

Merger and acquisition can accelerate capital concentration, reduce time for training talents, exploring market, and developing new technology, expand enterprise's business scale, and generate coordination effect in production, marketing, technology, capital and management. Therefore, M&A has become a shortcut for enterprise to expand its business in short term. Starting from the point of major causes of unsuccessful M&As in present business world, this thesis makes a study on selection of M&A target and integration management after M&A from core competency perspective.First, this thesis reviews five M&A waves and corresponding characteristics in history, then makes a deep analysis of major causes of unsuccessful M&As in China. On this basis, it proposes to carry out M&A strategy from core competency perspective, and explains realistic meaning of study of core competency based M&A integration. Afterwards, the thesis makes a full review of core competency theory and M&A theory, paving way for following research. On the basis of author's unique understanding of core competency, this thesis classifies core competency into three dimensions, including mind competency system, institutional competency system, and technological competency system, makes detailed analysis of contents of every dimension., and discusses cultivation and management of core competency from perspective of mind, institution, technology and knowledge. On this basis, it expatiates on effect, selection standard and core task of core competency based M&A, and points out that target selection should conform to principle of pertinence, while the integration after M&A is the most important factor determining the result of M&A. So this thesis expatiates on the research topic from angles of mind system integration, organizational system integration and technological system integration. Finally, it studies on performance assessment of M&A by fuzzy evaluation method.This thesis' innovative points includes: 1. proposes to carry out M&A from core competency perspective, 2. proposes new understanding of core competency, 3. proposes three models of core competency based integration, 4 uses fuzzy evaluation method to assess after-M&A performance.