企業購併策略與組織文化整合之研究－以A公司購併B公司為例

Research on the Merger and Acquisition Strategy and Organizational Culture Consolidation － a Case Study of Company A Mergers Company B

黃威翌(Wei-Yi Huang)

指導教授 ： 俞新昌 ； 李雨師

中原大學/商學院/企業管理研究所/碩士(2018年)

https://doi.org/10.6840/cycu201800090

摘要

隨著購併風潮擴大，企業購併已成為許多研究學者所感興趣的課題，但至今有關組織文化與工作態度等相關因素的研究尚不多，因此本研究特別針對購併策略與組織文化整合的關係作深入探討。
本研究以A及B二家工具機公司為探討對象，訪談10位曾在B公司工作但購併後仍留任A公司的員工及一位當初參與主導購併案的A公司高階主管。
依據訪談的內容再加上文獻理論的佐證，本研究得到以下重要結論:
1. 如果主併公司與被併公司是生產同性質產品，但若被併公司有其獨特創新性，則主併公司的購併動機通常為追求市場力，若無，則主併公司的購併動機通常為購併競爭者。
2. 若被併公司的員工感受組織文化差異大，則購併後的文化衝突可能會較大，主併公司會選擇以事業單位的形式納入被併公司的人員、設備、技術及體制。
3. 若購併策略為購併競爭者，則成效較大呈現在被併公司上；若購併策略為追求市場力，則成效通常呈現在對2家公司兼具。
4. 在併購過程中以下兩種關聯性是存在的：
a.「員工感受文化差異→文化衝擊→文化整合措施」
b.「購併策略→文化整合措施→購併有效性」
本文之研究結論可以作為高階主管在規劃購併工作、制定購併策略、考慮文化衝擊及採用文化整合措施時重要的參考。

關鍵字

購併 ； 購併策略 ； 組織文化 ； 文化整合

並列摘要

With the expansion of mergers and acquisitions, the study of M&A has become an important topic of interest to many researchers. However, few studies have so far been conducted on related factors such as organizational culture and work attitudes. Therefore, this study focuses specifically on the relationship between M&A strategies and organizational and cultural integration for in-depth discussion.
This study explored two machine tool companies-A and B, and interviewed 10 employees who had worked for Company B but remained with Company A after the merger, and a senior executive of Company A who had previously participated in the acquisition activities under study.
Based on the contents of the interview and the corroboration of various literature theories, this study reaches the following important conclusions:
1. If the main and the merged company produce the same kind of product, but if the merged company has its unique innovation, the main M&A motivation is usually the pursuit of market strength, if not, the main motivation is usually to acquire a competitor.
2. If the employees of the joint company feel the differences in organizational culture, the cultural conflicts after the merger may be serious. The main company may choose to incorporate the personnel, equipment, technology and system of the incorporated company in the form of a business unit.
3. If the M&A strategy is to acquire a competitor, then the effect will be larger on the incorporated company. If the strategy is to pursue market strength, the result usually appears in both companies.
4. The following two correlations exist during the merger:
a. Employee’s perception of cultural differences→cultural impact→cultural integration measures.
b. The relevance of M&A strategy→cultural integration measures→ M&A effectiveness.
The conclusions of this study can be used as an important reference for senior executives in the planning and strategizing of M&A activities as well as the assessment of related cultural impacts and the adoption of cultural integration measures.

並列關鍵字

merger and acquisition (M&A) ； merger and acquisition strategy ； organizational culture ； cultural integration

參考文獻

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