精品海外并购中的文化冲击与融合毕业论文设计.docx

精品海外并购中的文化冲击与融合毕业论文设计.docx

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精品海外并购中的文化冲击与融合毕业论文设计

毕业论文

论文题目：

海外并购中的文化冲击和融合

作者所在系部：

外语系

作者所在专业：

英语

作者所在班级：

B09711班

作者姓名：

赵盼盼

指导教师姓名：

刘阿娜

完成时间：

2013年6月

北华航天工业学院教务处制

CulturalConflictandIntegrationinOverseasMergersandAcquisitions

by

ZhaoPanpan

ThesisAdvisor:

LiuAna

SubmittedtotheB.A.CommitteeinpartialfulfillmentoftherequirementsoftheDegreeofBachelorofArtsintheForeignLanguagesDepartmentofNorthChinaInstituteofAerospaceandEngineering.

指导教师情况

姓名

刘阿娜

技术职务

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外语系

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本科生毕业论文原创性及知识产权声明

本人郑重声明：

所呈交的毕业论文

CulturalConflictandIntegration

inOverseasMergersandAcquisitions

是本人在指导教师的指导下，独立进行研究工作取得的成果。

除文中已经注明引用的内容外，本论文不含任何其他个人或集体已经发表或撰写过的作品或成果。

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因本毕业论文引起的法律结果完全由本人承担。

本毕业论文成果归北华航天工业学院所有。

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年月日年月日

摘要

并购是实现企业快速扩张的外部成长途径，全球已经历了五次并购浪潮。

随着国内产业结构的调整升级与企业国际化呼声的日益高涨，近年来我国企业并购活动也风起云涌。

但无论国外还是国内，并购的整体绩效并不乐观，原因之一是企业忽视了并购后的整合，尤其是文化整合。

本文结合并购整合的一般理论，重点研究了跨国并购中的企业文化整合问题。

首先，本文简要地回顾和评价国内外关于文化影响跨国公司方面的研究。

接着，本文对文化冲击、文化整合理论和文化整合模式选择理论进行了概述。

在前面分析的基础上，本文提出了企业跨国并购后文化整合的对策，包括跨国并购后文化整合模式的选择、不同整合阶段的策略选择。

本文的创新有两点:

一是分析了分析了文化整合中的问题；二是针对不同整合阶段提出了跨国并购企业的文化整合相对的策略。

关键词：

海外并购文化冲击文化整合

Abstract

Mergers&acquisitionsisanexteriorgrowthpathtoextendenterprisefast.TheworldhasalreadyexperiencedfivetimeswavetideofM&A.Inrecentyears，mergersacquisitionshavedevelopedlikerisingandsurgingcloudsalongwiththeadjustmentupgradeofindustrialstructureandthedemandofenterprises’internationalizationinourcountry.Butregardlessforeignordomesticsituation,theperformanceisfarformsatisfied.Oneofthereasonsistheneglectofthepost-mergerintegration,especiallythecultureintegration.

ThepapercombinesgeneraltheoryofM&Aintegration,whileemphasizingtheimportanceofcultureintegrationafterenterprise’sM&A.Firstly,thepapersimplyreviewsthestudiesofcultureinfluencesaboutinternationalbusinesshomeandabroad.Secondly,thepaperhasageneraldiscussionaboutcultureconflicts,cultureintegrationtheoryandmode.Finally,basedontheaboveanalysis,thepaperraisesafewsuggestionsaboutcultureintegrationstrategiesforinternationalM&A,whichincludethealternativesofintegrationmodesanddifferentstrategiesatdifferentstages.

Twoinnovations:

i,analysestheproblemsintheprocessofoverseasMergersandAcquisitions;ii,raisingdifferentcultureintegrationstrategiesatdifferentstages.

Keywords:

InternationalM&A,CultureConflicts,CultureIntegration

Contents

AbstractinChinesei

Abstractii

Introduction1

Chapter1:

DefinitionofCuture,CultureConflictandCulturalIntegration1

1.1DefinitionofCuture.............................................................................................................................1

1.2DefinitionofCultureConflicts.........................................................................................................2

1.3DefinitionofCulturalIntegrations................................................................................................3

1.3.1CulturalAssimilationMode........................................................................................3

1.3.2CulturalFusionMode................................................................................................3

1.3.3CulturalSeparationMode..........................................................................................4

1.3.4CulturalDeculturationMode.....................................................................................4

Chapter2:

CulturalConflictsandCulturalIntegrationsModes........4

2.1CulturalConflictsinOverseasMergersandAcquisitions.....4

2.1.1ConflictsbetweentheDevelopedCountries..............................................................4

2.1.2ConflictsbetweentheDevelopingCountries.............................................................5

2.1.3ConflictsbetweentheDevelopingandtheDeveloped..............................................5

2.2Thealternativesofintegrationmodes..................................................................................5

2.2.1CulturalAssimilationMode.......................................................................................5

2.2.2CulturalFusionMode................................................................................................5

2.2.3CulturalSeparationMode..........................................................................................6

2.2.4CulturalDeculturationMode.....................................................................................6

Chapter3ProblemsandNewStrategiesinOverseasMergersandAcquisitions6

3.1ProblemsinOverseasMergersandAcquisitions.................................................................7

3.1.1TheAcceptanceofStaffsfortheM&A.......................................................................7

3.1.2StrongDesiretoKeepItsOriginalTargets..................................................................7

3.2DifferentStrategiesatDifferentStages................................................................................7

3.2.1ExplorationStage--AssessmentandtheFormulationoftheConsolidationPlan.......7

3.2.2Collisionstage--TheImplementationofIntegratedPlan............................................8

3.2.3AdaptivePhase--MaintenanceandAdjustmentPlan..................................................8

3.2.4InnovationStage--RealizationoftheRealCulturalFusion........................................8

Conclusion9

Acknowledgments10

Bibliography11

CulturalConflictandIntegrationinOverseasMergersandAcquisitions

Introduction

Sincethelate90softhenextcentury,M&Ashavebeendevelopingrapidlythroughouttheworld,withtheoverseasM&Asasthemajorfeature.Ontheformsofforeigninvestment,greenfieldinvestmentisbecominglessandless,whilethecombinationofgreenfieldinvestmentandM&Asisincreasingsharply.Accordingtoonestat.report,thetotalamountofoverseasM&Ashadrisenfrom$83.1billionin1993to$880billionin2006,almosthavingagrowthrateof10times.Fortheyear2007,thetotalamountofglobalM&Asreached$58.1billion,holdingthegrowthrateof58%comparedtothesameperiodoftheyear2006.However,theincreasingnumberscannotalwaysindicateagoodoutcome,whichmeansweshouldnotbesatisfiedtooearly.Nowhereisanothergroupofincreasingnumbers.HerearesomereportsaboutthenegativeinformationofoverseasM&As:

theaveragefailurerateofoverseasM&Aisabout60%,whileChinahasthehighest--about70%.Accordingtothestat.ofWorldBank,forthereasontotheM&Afailures,morethan85%CEOortheauthorialdepartmentintheInternationalCompanyreferstotheculturalconflicts.TheyconfirmthatonlythecompanycanhandlethedifferenceswellcanmaketheoverseasM&Aasuccess.Absolutely,it’sclearthatculturehasthecomparativeimportanceforthesuccessoftheoverseasM&As.AsweallknowthatM&Asplayinstrumentalroleintheglobaleconomicdevelopment,thusmanyscholarsareengagedinthestudyofinfluentialfactors,amongmostofwhichtheyfocusculture.Focusingontheculturefactor,IwouldliketotalkabouthowitworksintheoverseasM&As--theconflictsandintegration.

Thisthesiscomprisesthreeparts.Chapter1offersusaclearunderstandingaboutcultureandhowcultureinfluencespeople’sbehaviors,especiallytheinternationalbusiness’sfunctioning.Chapter2focusesonthestudyofcultureandcultureintegration,whichincludesthemajorpart--cultureintegrationmodes.Chapter3suggestshowwechoosethemostusefulintegrationmodesandwhatkindsofstrategieswecanadoptatdifferentstagesintheprocessofcultureintegration.

Chapter1:

DefinitionofCulture,CultureConflictandCulturalIntegration

1.1DefinitionofCulture

Beforewestartthetheoriesdiscussion,weshouldgive“culture”anexactdefinition:

cultureissuchasystemofvaluesandnorms,whichisownedbyagroupofpeople,designedandbuiltfortheexistence（Charles,2009:

18）.Inthe70sof19thcentury,theanthropologistEdwardTylor（1871）firstlygavethedefinitionof“culture”:

cultureisacomplexusofknowledge,beliefs,art,morals,laws,habits,andotherabilitiespeopleneedasamemberofthesociety;thenfollowedbysomeotherscholars.SomerelativelyauthoritativedefinitionsarefromGeertHofstede（1982）:

cultureisthecomplexusofideologiesownedbyagroupofpeople,whichisalsodifferentfromanothergroup’s;andZviNamenwirth&RobertWeber（1987）:

cultureissystemofideaswhicharedestainedforhuman’sexistence.Withthereferencesofthesedifferentdefinitions,Charles.W.L.Hill（2009）gavethiscomprehensivedefinition.Herethevaluesareanabstractconcept,bywhichpeopleassurewhatisthegood,right,yearningidea.Andnormsrefertosocialrules,that’stosayhowtotelltheappropriatenessofsomebehaviorunderaspecificcircumstance.Cultureisdecidedbymanyfactorssuchasmainstreamreligions,languages,educationsetc.Becausewemainlytalkabouthowcultureaffectpeople’behaviors,wewon’tgivemorewordstalkingaboutthis.

1.2CulturalConflicts

Intheyearof1960,AmericananthropologistKalveroOberg（1960）firstlyraisedtheconceptof“culturalshock”,andthenmadefurtherstudyofculturalclash,