企業分拆或併購之策略分析-以惠普公司分拆個人電腦部門為例

Abstract

企業的命運隨著潮流演變及內部與外部環境的改變及也跟著改變，個人電腦產業的變化現象尤其劇烈。在廣義的個人電腦產品常因新科技產品或技術的發明或出現而改變大眾的使用習慣與偏好，進而使產業產生劇烈變化。著名的IBM電腦公司數年前出售個人電腦部門給中國聯想電腦公司，震驚各界。而成立至今七十餘年，由Bill Hewlett與Dave Packard 1939 在加州矽谷創立的惠普公司，在近兩年內也兩度傳出欲出售電腦部門的消息。雖然事後都被澄清無此打算，但是此種消息的出現也顯示出因傳統電腦產業結構的改變才進而導致此類型決策的產生。又因惠普公司的決策反覆，可看出此種決策難度與複雜性以及牽連層面的廣泛。如何的從策略管理的各個層面環節來比較分析各項優缺點，進而做出決策，實為一值得研究的主題。 換句話說，公司分拆或併購其隱含策略意義可以說是極具有研究價值。本研究藉由個案討論分析幾個分拆與併購的經典案例，來藉以分析惠普公司如果出售個人電腦部門的利與弊，並根據此分析提供惠普及其他類似電腦公司之後可能的經營策略提出建議

The fate of the enterprise changes with the evolution of trend and changing of internal and external environment, especially in personal computer industry. People usually change their habits and preferences due to new technology products or technologies invented or appear on broad PC products, thereby enabling the industry to produce dramatic changes. The famous computer company IBM sold it's PC division to the Chinese computer company Lenovo a few years ago, this shocked all walks of life. Founded seventy years ago by Bill Hewlett and Dave Packard on 1939 in California's Silicon Valley, Hewlett-Packard have twice announced the message that want to sell it's department in the last two years. Although no such intention have been clarified afterwards, but this message also shows that this kind of decision is the result of changes in the structure of the traditional PC industry. Because of repeated HP's decision, we can also see a wide range of difficulty and complexity and the level of involvement of such decisions. How to compare and analyze the pros and cons from strategic management at all levels and links, and then make a decision, is indeed a worthy topic of the study. In other words, the implicit meaning of the company split or merger can be said to have extremely strategic research value. Business strategy may make recommendations after discussion and analysis of the case studies by several classic cases of spin-off and merger. This research want to analyze the pros and cons about Hewlett-Packard selling the PC business unit, and based on this analysis we provide computer companies like Hewlett-Packard and others.