Research On The Strategic Value Creation Of Manufacturing Enterprises "going Out"

It has been more than forty years since the reform and opening up,and the reform and improvement of the market economic system have made remarkable achievements in China’s economy.With the steady promotion of China’s "going out" strategy and the continuous improvement of the country’s comprehensive strength in recent years,many domestic manufacturing enterprises have also begun to implement the "going out" strategy at the enterprise level,and continue to go abroad through mergers and acquisitions and other means to find a broader development space overseas.Can manufacturing enterprises "go out" for overseas M&A achieve the expected goals and enhance the value of enterprises? Previous studies have shown that overseas M&A can really achieve few success,mainly in the preparation of M&A,M&A transactions and M&A integration links are prone to many problems,it is difficult to create value for enterprises after M&A.This paper chooses the typical case of China’s household appliances company Mei Group M&A of German Kuka Robot Manufacturing Enterprise under the new situation as the research object.Following the analysis thought of value creation mechanism of M&A proposed,it discusses whether the M&A creates value for enterprises,and analyses how Mei Group adopts a series of management and operation measures to enhance enterprise value,and improves its performance after M&A.Finally,the conclusion is drawn that the M&A has realized value creation,and from this process,a perfect strategic value creation mechanism map of "going out" of enterprises is concluded.Based on the in-depth analysis of the case,this paper finally draws some preliminary conclusions: manufacturing enterprises should pay attention to the combination of strategies and objectives of enterprises in the process of cross-border M&A;make full preparations for M&A and select suitable enterprises for M&A targets;learn to make full use of the capital market to broaden financing channels to reduce the cost and resistance of M&A transactions;at the same time,focus should be placed on: After mergers and acquisitions,it is necessary to carry out all-round and systematic integration,especially the integration of resources and capabilities between the two sides of mergers and acquisitions.Secondly,it is necessary to gradually establish information disclosure monitoring mechanism and financial risk early warning system,enhance the ability of enterprises to deal with risks in the process of mergers and acquisitions,and improve the rules and regulations and management level of enterprises.These conclusions are summarized from the typical case,which can be closely combined with the current situation and have certain universal applicability.I hope to provide reference for more and more manufacturing enterprises in China who are interested in overseas M&A,and help them better go abroad and enhance the international competitiveness of Chinese manufacturing enterprises.