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Abstract
Business growth is through business philosophy, increase productivity, enhance the performance growth of more products and services. Then, expand the field of the terprise, and way is to elaborate the purpose of the enterprise, and its way is to elaborate the purpose of expansion in the form of mergers and acquisitions. Disney Land CEO Iger, has carried out multiple merger and acquisition plans in a row, integrating the upstream, midstream and downstream related companies, and expanding the diversified entertainment business through mergers and acquisitions to gain competitive advantage. It's not only creates business value but also is an extension and connotation of art.
In this study, we provide literature and case study, illustrated merger and acquisition in the enterprises expands the scope of business and increases industrial structure, and discusses the advantages of enterprise mergers and acquisitions. This research will provide to academic and related units for practical application.
Key word: merger and acquisition, market share, internalization, competitive advantage, customer satisfaction
Motivation and Purpose of Mergers and Acquisitions
Motivation And Purpose Of Mergers And Acquisitions
The merger and acquisition (M&A) strategy in full equity is not necessarily capable of reducing operational risks like investment costs. In order to obtain acquired equity and as sets, internal enterprise resources, capabilities like human resources, and value chain activities (such as cooperative manufacturers and customer management), Ratan Raina (2018): Said sharing of talent and resources of predecessors will lead to revenue enhancement by cost-cutting or by eliminating expenses associated with running a single business. Therefore, complete absorption and integration of the resources, capabilities and organizational culture of the acquired enterprise is the biggest motivation and purpose after M&A. Furthermore, Gaughan (2002) and Jagersma (2005): defined a merger as the combination of two or more companies to create a new organization or formation of a holding company. Finally, Chen & Findlay (2003): Said acquisition involves taking over the control of a targeted company by another company controlling interest in the share capital or substantially all the assets and / or liabilities to have a managerial influence on its functioning.
The enterprise strategy after M&A must focus on expanding the market layout, entering the target market quickly, and developing market scale through core technologies and Internet skills. Fong Chia-Lin...