The Research Of Performance Evaluation Of M&a Based On The BSC

In recent years,with the continuous development of the Internet of Things,5G,artificial intelligence and rising labor costs,manufacturing companies around the world have increasingly demanded the degree of industrial intelligence.The integration and development of intelligent automation technology and manufacturing are the main features.A new round of scientific and technological revolutions and industrial changes are gestating and emerging on a global scale,forming a historical convergence with the transformation and upgrading of China’s manufacturing industry with the goal of "Made in China 2025." In order to meet the needs of the times and solve the problems of overcapacity in the low-end manufacturing industry and insufficient supply of high-end products in China’s manufacturing market,Chinese enterprises have begun to seek development strategies and business model changes that are in line with the mass market.Intelligent manufacturing has begun to be the direction explored by many Chinese manufacturing companies,seeking a new model of strategic cooperation with technology as the core in a fiercely competitive environment.Cross-border mergers and acquisitions can not only deeply integrate with foreign companies,enable Chinese companies to obtain advanced foreign R & D and manufacturing technologies,improve their own creativity and intelligent manufacturing levels,but also make full use of the popularity of foreign companies to enter overseas markets quickly,thereby opening up international markets.,Expand the scale of operations,and successfully achieve strategic transformation,which has also set off a wave of mergers and acquisitions of Chinese enterprises.Midea Group,as a giant white goods company in China,has actively participated in mergers and acquisitions since the beginning of the 21 st century,and actively participated in the changes of the times.It is a representative merger and acquisition activity that not only has the diversified layout of Midea Group,but also promotes the intelligent transformation of Midea Group.Under the current background of intelligent manufacturing as the development direction,this article uses the balanced scorecard multi-dimensional indicator system to subdivide M & A targets,evaluate M & A performance,and use a multi-dimensional inspection system for other Chinese manufacturing companies to acquire foreign companies.The high-tech industry provides lessons learned.Therefore,this article takes the actual M & A case of Midea Group’s acquisition of German KUKA Group as the basis,and uses the four dimensions of the balanced scorecard as the starting point.The research method combining literature research method and case analysis method is adopted to evaluate the performance of this merger from multiple angles.First,by reading a large number of domestic and foreign scholars’ related literature on M & A performance and the application of the balanced scorecard to performance research,the research perspective of corporate M & A performance research and M & A performance research based on the balanced scorecard is summarized.The theoretical basis of sub-card correlation and performance evaluation,to analyze the case of Midea Group’s merger and acquisition of KUKA,using synergy effect theory,scale economy effect theory,transaction cost theory,and market power theory to lay the theory for subsequent case analysis and evaluation basis.In the case study section,this article starts with Midea Group and the KUKA Group before the merger and acquisition basic situation and the M & A process as a starting point,explores the Midea Group ’s motivation for the acquisition of KUKA,and understands the Midea Group ’s integration measures in terms of strategy,human resources and culture Combined with the phenomenon of integration,a balanced scorecard method is proposed for evaluation,and the advantages of the balanced scorecard in the performance evaluation of the merger and acquisition are further explained.In the case analysis section,this article sorted out the data of the Midea Group from the five years before and after M & A from 2015 to 2019,and selected multiple indicators from the financial dimension,customer dimension,internal process dimension,learning and growth dimension to comprehensively and broadly evaluate the performance of M & A.Contrast and evaluation in the field,observe the changes in the financial and non-financial data of Midea Group,analyze the trends,and compare and analyze with the Haier Zhijia,Gree Electric and the industry average in the same industry,and comprehensively evaluate the performance of its mergers and acquisitions,and summarize The specific impact of the merger and acquisition on Midea’s financial and non-financial performance.Finally,as a typical case of Chinese companies merging foreign high-quality enterprises,this research on the application of the balanced scorecard to M & A performance research not only understands the M & A from a comprehensive perspective,but also can select other companies’ M & A targets It provides reference and inspiration for the performance evaluation of mergers and acquisitions,and ultimately has very important practical significance for improving the competitiveness of China’s manufacturing industry in the intelligent field.Through research,we can see that although the financial indicators of Midea Group have not been greatly improved in the short term,in the long run,mergers and acquisitions have further broadened the international market for Midea Group and increased the brand value and international recognition of Midea Group.Introduced high-quality research and development talents for the enterprise,brought artificial intelligence manufacturing technology,improved the industrial layout of Midea Group,strengthened the core competitiveness of the enterprise,further promoted the realization of the "smart intelligence" strategic goal,and the effects of non-financial indicators were prominent.In general,this M & A activity provided a positive effect on the strategic development of Midea Group,and achieved relatively satisfactory M & A results.