企業向外併購、轉型後之競爭力分析 -以A公司為例

Abstract

摘 要

因應市場環境及產業潮流更迭，新競爭者群雄並起，許多企業已面臨「不改革，就淘汰」的關鍵時刻。為了持續保有與其他企業競爭的優勢，為股東創造穩定的利潤，單打獨鬥的時代已經過了，在全球化浪潮下，企業追求成長的策略目前最常使用的方式是透過併購，引進外部刺激、與外界現有經營體系結合，降低學習成本與時間，隨需而變，快速利用現有行銷通路或生產資源，迅速進入新市場或另一個產業領域，這對企業的影響最明顯、最快速，也是最直接的轉型成長方式。 企業轉型已然是一條無止盡漫漫長路。轉型的策略及方向必須明確，才能逐步立新汰舊，無法取捨往往會進退失據，固守原地更無法突破困境，若能善用併購策略聚焦產業鏈之強項，轉換事業組合、掌握產業變化趨勢，發展出新的企業核心能力，才能持續維持企業前進的動力。 本研究以「A公司」在面對景氣循環、產業步入成熟期，為追求永續經營，以向外垂直併購方式改善經營結構為例。 透過深度訪談以SWOT分析理論，探討該公司向外併購、轉型後的競爭力、與經營績效的關係，並依據研究，對產業提出應積極思考併購策略之建議，昐能為企業的經營決策有所貢獻。

ABSTRACT Responding to the changes in the market environment and industrial trend, many companies have faced the critical moment of having to “reform or be eliminated.” In order to maintain a competitive advantage over other companies and create the stable profits for shareholders, the time of fighting alone has passed. Under the wave of globalization, the most common strategies adopted for enterprises to pursue growth include M&A, importation of external stimuli, integration with existing business bodies from outside, reduction of learning costs and time, change upon demand, rapid use of existing marketing channels or production resources, quick entry into new markets or other industries, which have the most obvious and rapid impact on enterprises and are the most direct way to achieve transformation and growth.

As the case of “Company A” in the pursuit of sustainable management has engaged in outward vertical M&A to improve the business structure. In-depth interviews were conducted to explore the relationship between business performance and the company’s competitiveness following outward M&A and transformation. Based on the findings, recommendations pertaining to the industry’s active involvement in M&A strategies were put forth in order to contribute to the decision-making of enterprises.