The Research Of Reorganization Of Central Enterprises And Pefrormance

If enterprises want to maintain a sustainable competitive advantage and continueto achieve the improvement of enterprises performances in the competitive market,they have to adjust themselves anytime according to the changes of the externalenvironment, and the reorganization is an important approach for adjustingthemselves. The central enterprises are in charge of the important function to improvethe country’s enterprises for the international competitiveness, and the reorganizationis an effective way to improve their own capability.This paper in chapter2has selected related enterprise reorganization theories,enterprises performance theories and enterprise synergy theories to make the basictheories of this thesis, explain about the enterprise reorganization connotation,contents and pattern, enterprise reorganization motivation and value source. At thesame time, it also explains about the related factors effect to the enterprisesperformance, especially focus on the main indicators of the enterprises performanceassessment-Economic Value Added (EVA). The key of enterprise reorganization isstress on to obtain synergy, so this thesis is also can be one of the effectivenesssynergy theories to offer effectiveness theories support for central enterprisereorganization to promote enterprises performance.On chapter3, this thesis introduces the situation of Chinese central enterprisereorganization; include overseas merger and acquisition situation, analysis the historyof central enterprise reorganization, characteristic and existing problem, especiallyfocus on analysis the problem existed on the process of central enterprisereorganization, has mentioned on problem existed on central enterprise reorganizationprocess, such as: the lack of feasibility research, neglected enterprise integration, thegovernment intervened too much control etc. At the same time also point on theproblems network of central enterprise merger and acquisition existed on overseas, such as: the strategic target was not clear, lack of institutional planning and theprofessional staff etc. All of these problems are pulling the speed of the centralenterprise reorganization to promote enterprises performance.Chapter4of this thesis focuses on the research of the relationship betweencentral enterprise reorganization and enterprises performance. Through the study, theresearcher thinks that on the bases of central enterprise reorganization integration,reorganization can be motive some of central enterprises performance as follow:obtain synergy, the main are operation, management and finance; has advantage onmotive operating diversification of central enterprise and market share and extension,has advantage for central enterprise motive major businesses development; improvebusiness environment of central enterprise getting better. Among them, it can obtainsynergy is the main value source of central enterprise reorganization. But, thereorganization doesn’t show the promoting of enterprises performance, thereorganization also can bring some series problem to enterprises, such as:reorganization can bring expansion of enterprise size become bigger, the conflict onbusiness culture etc. If neglect these problems, after reorganize central enterprise maydo not have any solution for making the real merger become true, and then it canmake enterprise efficient decrease, make the enterprise situation worse, enterprisereorganization doesn’t have any roles to motive the promoting of enterprisesperformance develop quickly.Chapter5of this thesis is aim to the existing problem of central enterprisereorganization process and the problems that come along with it. The researcher hasgiven some opinion and suggestions toward the problems. In this chapter, theresearcher also gives suggestions to both government and central enterprises about thecentral enterprise reorganization. For the central enterprises, central enterprisereorganization within country should draw up reorganization strategy clearly,implement the merging of enterprise reorganization and core competitiveness, and atthe same time also focus on the activities of integration after enterprise reorganization,quickly arrange training for professional staff on reorganization etc; overseas centralenterprise merger and acquisition have to change internal power become stronger, train the staff for international vision and internationalization management staff, andat the same time have to make people understand clearly that the main owner ofmergers and acquisitions is central enterprise, avoid concentrate excessively onmerger and acquisition areas. For the government, should manage well on therelationship between administrative interventions and leading enterprisereorganization; further improve the overseas merger and acquisition managementmechanism, especially important is to be strengthen on building the laws andregulations on enterprise reorganization, provide institutional planning for centralenterprise reorganization, the government should motive the country financial systemand building capital market, to construct well central enterprise reorganizationfinancial platform.