Research On M&A And Integration Of Diversified Strategic Enterprises Based On Grounded Theory

With the rapid development of the industry,the market competition is becoming increasingly fierce.In order to survive in the fierce market competition,enterprises need to have strong comprehensive strength,and often use diversification strategy to maintain high-quality development.The enterprises represented by Mengniu Dairy successfully acquired other companies through this strategy and entered the emerging markets.However,it must be admitted that they will inevitably face many risk problems in decision-making.As long as there are loopholes in the decision-making,it may cause damage to the interests of enterprises.Although M & A "Thunderbolt" events have occurred frequently in recent years,large enterprises at home and abroad have not stopped the pace of M & A.Although many scholars and experts have realized that the dairy M & A market is active in recent years,there is little research on M & A performance in this field.Most of them are empirical research on M & A performance in the industry,and there is no unified conclusion.The research object of this paper is the M & A integration of diversified strategic enterprises.Based on the grounded theory,this paper studies the M & A upsurge of China’s dairy industry.Through in-depth analysis and evaluation of the M & A performance data of Mengniu dairy’s M & A of Julebao and Yashili,it discusses whether M & A can bring benefits to Mengniu dairy industry,whether it is conducive to the integration of dairy industry and the effective allocation of resources,which will promote the overall development of China’s dairy industry,will have more practical value.Mengniu’s purpose of M & A for Julebao and Yashili is completely different,but the ultimate goal of M & A is to realize the development strategy of the enterprise,maintain the leading position of the enterprise in the industry,and narrow the strength gap with competitive enterprises.At the same time,combined with the following analysis,the differences between the two M & A cases in motivation,risk and other aspects explain the M & A results of Mengniu under different situations,and put forward more scientific suggestions for diversified strategic enterprises.At the same time,the use of double case analysis can strengthen the demonstration,provide strong evidence for the obvious similarities and differences between the results obtained by observing and traditional performance analysis methods,and provide strong evidence for the final conclusion.Within the scope known by the author,there is no precedent for the existing research to combine the grounded theory with M & A integration.This paper creatively analyzes the motivation,results and risks of Mengniu’s two M & A as through three-level coding qualitative research,and obtains the similarities and differences between the two M & A identifies the risks and gives corresponding targeted suggestions for the risks.Through analyzing the M & A activities of Mengniu dairy,We can know whether the dairy industry can expand product sales and production scale through diversified mergers and acquisitions.Analyze the performance of dairy M & A put forward solutions to the problems existing in the process of diversified M & A and provide some reference opinions for M & A of similar enterprises combined with M & A experience.Starting with the dairy industry and M& A examples,combined with the grounded theory,this paper makes a scientific and rigorous in-depth study on the two M & A of Mengniu dairy industry,and finds that the M & A results are relatively successful.After the diversified strategic M & A,it makes up for its own short board business and improves the market competitiveness of the enterprise,and the synergy effect is also significant.But it also exposes some problems,so this paper puts forward some suggestions that can help diversified strategic enterprises effectively avoid and identify risks in view of the risks in the analysis results.Finally,this paper uses the traditional integration performance analysis and the grounded theory to study the M& A integration,and also finds the similarities and differences of the results obtained by the two research methods,and exposes the M & A motivation risk.Taking Mengniu as an example,it also gets some enlightenment for the same type of enterprises to adopt the diversified strategy for M & A integration.In a word,this paper takes diversified strategic enterprises as the research object,creatively combines the grounded theory with M & A integration,and draws a unique conclusion.