以職能落差觀點探討併購案成敗：解釋性個案研究

Success and Failure of Mergers and Acquisitions from the Perspective of Resource and capability Gap: An Explanatory Case Study

10.6902/JNTUST.201612_3(1).0001

賴明弘(Ming-Hong Lai)；羅鈺婷(Yu-Ting Luo)

職能落差 ； 併購 ； 策略意圖 ； 解釋性個案 ； resource and capability gap ； merger and acquisition ； strategic intent ； explanatorycase

中科大學報

3卷1期（2016 / 12 / 01）

1 - 29

繁體中文

併購活動已成為國際企業管理中普遍採用之成長策略。然而，未考慮職能落差時，併購案的成功會難以預期。本研究綜合運用核心職能理論與動態能力觀點，探討如何從職能落差的觀點進行併購案的管理。研究問題聚焦在複雜動態環境下如何管理企業的資源與能力，以利於併購案策略意圖的達成。研究方法採用雙個案設計，以明基集團內採行相同成長策略卻有明確對比的兩個併購案為主要研究對象。結果顯示：在併購流程中，能否確認職能落差與建構能夠消除職能落差的核心職能，影響併購案成敗極大。當職能落差小而且可明確辨識時，動態能力可以有效運作，併購案容易成功。當職能落差大而且脫離其核心職能發展路徑時，動態能力無法及時改正或消除此一落差，則併購案容易失敗。在動態能力運用方面，核心職能的路徑相依性，影響職能落差的確認與職能落差的大小。在合理策略意圖下，資源配置與流程管理可以消除併購案中的職能落差。

Mergers and acquisitions have been growth strategies for companies to achieve their competition objectives in the global markets. Without considering resource and capability gap, management of merger and acquisition can be very difficult. This study used both the core competence theory and the dynamic capabilities perspective to explore the management of mergers & acquisitions from the perspective of resource and capability gap. It studied how to manage resources and capabilities to achieve strategic intent of a company in a dynamic business environment. Two cases of the BenQ business group were analyzed with the pattern matching method. The results showed that it is important to identify and construct the resources and capabilities required in closing the gap between the strategy intent and the current position during the process of merger and acquisition. A merger and acquisition case can be successful when the resource and capability gap is small and identifiable. When the resource and capability gap is too big and derailed for the dynamic capabilities to rectify and supplement in time, the merger and acquisition case cannot escape the fate of failure. Path dependence affects the identification and span of the resource and capability gap, while position and process can fill the gap under reasonable strategic intent.

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