Study On Promotion Countermeasures Of Enterprise Execution After M&A

As an effective way of high-speed growth, merger and acquisition (M&A) has been used by more and more enterprises. Since the 19 century, the western countries have experienced five times massive M&A waves. Our enterprise M&A started relatively late, but also has experienced three times, and the recent financial crisis provides us an unprecedented chance to implement the strategy of "going out". However, statistics show that the results are not always satisfying, some enterprises even got into trouble. Lots of researches believe that the failure due to poor integration, but they always neglect that inadequate execution after M&A is also an important cause of the failure.This paper believes that execution improvement is an important influencing factor for the success of M&A. Then existing M&A and execution theories are firstly analyzed, connecting with the situation faced by enterprise execution after M&A, the elements model of enterprise execution after M&A is constructed. On this basis, improvement countermeasures of enterprise execution after M&A are put forward from two aspects of personal and organization execution. Then combining the research conclusion with practice, this paper uses M&A activities of Tsingtao Brewery from 1992 to 2002 as the research object, and analyzes the influences of a series of measures to Tsingtao Brewery execution, and put forward the corresponding proposal for the deficiency. At last, this paper makes a summary of the research and points out the deficiency.With methods of literature reading and case study, this paper theoretical derives on components of execution, and builds enterprise execution element model, and also puts forward the executive promotion ways after M&A based on the research achievements of both domestic and foreign scholars. And this paper gets more convincing by some cases of merged enterprises. Then, the innovations of this paper are firstly embodied in the innovation of perspective. Previous researches on the failure of M&A mostly focus on the integration of enterprises, and few scholars analyze from execution. This paper from the perspective of execution after M&A puts forward the proposals of execution improvement after M&A. Secondly, based on the achievements of the meaning and elements of enterprise execution, connecting the practice of enterprise M&A, the paper constructs an elements model of enterprise execution after M&A.Thirdly, the frame of improving execution after M&A is constructed from two aspects of personal and organization execution. And personal execution is divided into two aspects of leadership and ordinary employees' work-willingness, while organization execution can be improved by reaching strategic consensus, optimizing the structure, standardizing regulation and incentive system and facilitating shared value.