從企業競爭態勢分析Google和Apple的投資併購策略

Abstract

企業併購是企業追求成長與永續經營的一種手段，許多知名的國際企業憑藉著獨到的企業併購策略、專業的併購處理團隊、積極有效的產品整合技術來促進併購綜效的達成。 網路設備巨擘—思科（CISCO）公司是全球大型企業透過購併來大幅拓展競爭力的經典個案，其自1994年開始其瘋狂的企業併購，至2013年止，併購了超過165家的企業，也促使其成為全球網路設備的龍頭企業。 2005年以來，伴隨著網際網路、智慧型手機、互聯網與物聯網的技術發展與廣泛應用，本研究中所探討的個案公司，Google公司和Apple公司，憑藉著獨特的經營模式（平台策略）與積極的併購動作毅然興起，不論在財務績效與品牌價值方面，都名列前茅。 本研究擬針對Google公司和Apple公司的核心競爭力和平台經營模式作剖析，透過對併購對象的分類與分析，探討其間涉及的併購策略目標、企業核心能力、企業競爭環境及其未來的發展方向。 Google公司和Apple公司是近年來平台策略的經典案例，透過對硬體製造商、廣告商、協力廠商軟體製造商和使用者間的多方微妙平衡，從中獲利並進而讓企業不斷成長。Apple公司經營一個封閉式的平台，透過硬體的銷售來獲取商業利潤，在客群上聚焦於高品質及時尚品牌經營；Google公司經營一個開放式的軟體平台，訴求免費與公開，讓大量的硬體製造商與協力廠商軟體公司加入，使其運營補貼模式，進而透過廣告收益來獲取商業利潤。為維持上述平台的運作，Google公司和Apple公司透過企業併購的手段，加強公司核心能力、提供綜合服務、壯大平台生態圈和佈局未來機會。一方面提升對供應鍊的掌控程度，二方面提升平台對新使用者的吸引力與舊使用者的轉換成本，三方面藉由擴增產品服務面來分散利潤池，避免被競爭者的平台所覆蓋而被取代。

Merge and Acquisition is a scheme for enterprises to pursuit company development and sustainable management. By unique strategies of merge and acquisition, active and effective product integrations, and specialized M&A teams, well-known International Corporation strength the synergy in merge and acquisition. Cisco Inc., a network instrument company, is a classic example of how a big global company enhances its competitive advantage by taking M&A actions. Cisco began its Merge and Acquisition activities from 2005, and it has merged more than 165 companies until 2014. This research studies why Google Inc. and Apple Inc., have excellent financial performances and high representative brand equity through their specific business model - platform strategy and active M&A actions, and how their schemes work with the advance of technical development and wide application in smart phone, internet and IOT industries. This research analyzes the core competence and platform business model of Google Inc. and Apple Inc. By classifying and examining their acquisition, this research discusses the purposes of related strategies and objectives, enterprise core competence, competitive environment in business and developing of future direction. Google Inc. and Apple Inc. are the models of developing platform strategy. They make profits by leveraging hardware manufacturers, advertising agency, third party software developer and end-users cleverly. Apple Inc. builds up a closed platform, makes profits by selling hardware, and conveys an image of high quality and fashion brand to customers. Google Inc. builds up an open platform, welcomes hardware manufactures and third party software developer to join, and makes profits by advertising and compensation mode. Google Inc. and Apple Inc. adopt Merge and Acquisition to maintain platform operation by enhancing core competence, providing composited service and strengthening overall platform. Through M&A scheme, first, Apple and Google are able to control supply chain. Second, this strategy attracts new users and raises the switching cost to existing users. Third, it can diversify profit pool by product diversification and lower the risk of being covered competitor’s platform and replaced by competitors.