7 Ch7 Acquisition and Restructuring-distribute

7 Ch7 Acquisition and Restructuring-distribute - Customer...

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What did we discuss last week? Mission Customer Analysis Competitor Analysis Company Analysis Environment Analysis Objectives Strategy Rewards Information/ Decision Processes Structure People Symbols This slide set was originally derived from Don ald Hambrick’s executive teaching materials. 1
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鑽石模型:策略五要素 發展階段 ሺStagingሻ 實現手段 ሺVehicleሻ 經濟邏輯 / 獲利模式 ሺEconomic logicሻ 活動領域 ሺArenaሻ 差異因子 ሺDifferentiationሻ 我們要在哪裡活動? ◎產品類別 ◎市場區塊 ◎地理區域 ◎核心技術 ◎價值創造階段 我們如何達成目標? ◎內部發展 ◎合資 ◎特許/經銷 ◎購併 我們如何贏得市場? ◎形象 ◎客制化 ◎價格 ◎樣式 ◎產品信賴度 我們如何獲得利潤? ◎藉由規模優勢降低成本 ◎藉由範疇、口碑優勢降低成本 ◎以優異的服務來提高價格 ◎提供獨特的產品來提高價格 我們怎麼快速且 持續地移動? ◎擴展速度 ◎行動順序 2 Copyright © Ming‐Jer Chen. All rights reserved
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3 Chapter 7 Acquisition and Restructuring Strategies Part II: Strategic Actions: Strategy Formulation
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4 Acquisition and Restructuring Strategies Overview: Six content areas Popularity of acquisition strategies for firms competing in the global economy Why firms use acquisition strategies Seven problems working against developing a competitive advantage using an acquisition strategy Attributes of effective acquisitions Restructuring strategy vs. common forms Short & long‐term outcomes of different restructuring strategies
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5 Merger vs. Acquisition vs. Takeover Merger Two firms agree to integrate their operations on a relatively co‐equal basis Acquisition One firm buys a controlling, 100 percent interest in another firm with the intent of making the acquired firm a subsidiary business within its portfolio. Takeover Special type of acquisition strategy wherein the target firm did not solicit the acquiring firm's bid Hostile Takeover: Unfriendly takeover that is unexpected and undesired by the target firm
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6 Cross‐Border Acquisitions: Increased Trend Number of cross‐border deals continues to increase in all corners of the world Acquisitions by emerging ‐country firms occurring in developed countries, especially in the U.S., UK and Europe Developed economies have more open policies allowing emerging‐country economies to make inroads, especially in more mature businesses including steel, aluminum and cement ; or basic services such as management of airports and railroads , or infrastructure management, such as toll roads
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7 Popularity of M&A Strategies Popular strategy among U.S. firms for many years Can be used because of uncertainty in the competitive landscape Increase market power because of competitive threat Spread risk due to uncertain environment Shift core business into different markets
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