從策略規劃與財務分析談企業購併

Abstract

企業利用購併策略來達到迅速擴張規模、競爭力以及掌握先進技術與管理制度產生合併的綜效，來達到企業追求不斷成長的目標，最近這幾年國際購併的規模不斷攀高，在全球化下，購併的潮流是一種發展的趨勢。本研究之研究目的可分為以下幾點： 一、瞭解個案購併的經營考量以及策略運用。 二、個案購併過程以及產生的問題。 三、購併過程的整合構面 四、購併之後的績效或綜效評估。 本研究以個案研究法針對案精誠公司從其企業內部優勢與劣勢加上產業外在環境的機會與威脅出發，探討其企業購併的策略，包括購併的動機為何、如何尋找購併的對象、購併對象的評估與執行方式、以及購併前的財務規劃與分析，再進一，探討其策略上的考量，以及購併後財務績效的表現，做進一步的分析與探討，最後，整理歸納出購併成功的關鍵因素為何。 針對整體精誠資訊個案購併的描述與分析，本研究認為精誠資訊購併成功的因素包括：管理者的意志力是促成購併成功最大的原因、事業群的方式購併可以降低離職率並且分享企業內部資源增加綜效以及本身具備強而有力的購併動機與條件，才能夠達到購併前預期的綜效與結果。

Corporate can enhance the competitive advantage, expand the market share and get the advance technology and management process through the mergers and acquisitions. Thru the mergers and acquisitions, the synergy will make the corporate to achieve continuous growth in revenue. Recently the scope of international M&A is getting bigger and bigger, so the M&A is the trend under the globalization heat. There are four purposes in my research : 1. the corporate point of view in management and strategy of M&A 2. Process and problems in M&A 3. The integration dimension of M&A 4. The performance and synergy evaluation of M&A. This research was to make a study on M&A strategy in Systex Corp to understand more key success factors in M&A.The strategy include : 1. the internal strength and weakness and external threat and opportunity 2. the motive of M&A 3. to identify and evaluate the target 4. the financial plan and analysis before M&A After the M&A this research make a study in the financial statement and come out some conclusion for key success factors : 1. the perceive strategy analysis before M&A 2. the strong determination from the company executives 3. Independent business units for each acquired company. This approach effectively reduced the turn over rate after M&A