英语翻译1.The role of corporate culture in the success of M&A operationsBased on a review of the main analyses,both theoretical and empirical,three main approaches to viewing the problem of successfully carrying out M&A operations can be identifi

英语翻译1.The role of corporate culture in the success of M&A operationsBased on a review of the main analyses,both theoretical and empirical,three main approaches to viewing the problem of successfully carrying out M&A operations can be identifi
英语翻译
1.The role of corporate culture in the success of M&A operations
Based on a review of the main analyses,both theoretical and empirical,three main approaches to viewing the problem of successfully carrying out M&A operations can be identified:industrial organization,financial economics and strategic management.As a rule,studies that examine the key factors in the success of M&A operations focus on the so-called evolutionist paradigm,adopting a primarily resource-based perspective while attempting to identify the superior contribution of certain managerial and organisational factors to M&A operations whose economic results proved especially positive.Examples include Blake and Monton ,Jemison and Sitkin ,Salter and Weinhold and Haspeslag and Farquhar ,who have indicated that the success of M&A operations largely depends on the quality of the underlying plan and the consistency of its implementation.Haspeslag and Farquhar ,in particular,have stressed the importance of compliance between strategy and structure in the generation of value.Sales and Mirvis ,Shrivastava and Nahavandi and Malekradeh ,on the other hand,have taken an in-depth look at the role of socio-cultural factors in the processes of acculturation undergone by the organisations in merger processes.
When it comes to successful M&A operations,therefore,much of the literature points to the need for a simultaneous presence of strategic and organizational coherence.As a result,an analysis of the factors that can contribute to improving the effects of M&A operations on the firms involved can be of use in formulating approaches to acquisitions and mergers that make it possible to avoid the serious economic crises observed in various economic sectors.In fact,two categories of conduct on the part of management can be identified as those most responsible for dysfunctions in M&A operations:the first involves the strategic analyses of operations of concentration,while the second regards evaluation of the compatibility of the organisational frameworks and the characteristics of the personnel of the companies taking part in the operations.
There thus exists,during the phase involving the implementation of a merger operation,a problem of organisational,human and procedural coherence between the firms.The extent to which the two companies are “related” has a profound effect on the possibility for a successful integration and,therefore,deserves to be considered as a key factor,during the planning phase,when it comes to selecting the firm to be purchased or with which to merge.Seen in this light,the more the companies involved in the operation “resemble each other”,the greater the probability that the operation will be a success.The degree of “relatedness” can regard the market/product matrix within the individual companies or the extent to which their procedural,organisational,managerial and cultural characteristics prove complementary.

英语翻译1.The role of corporate culture in the success of M&A operationsBased on a review of the main analyses,both theoretical and empirical,three main approaches to viewing the problem of successfully carrying out M&A operations can be identifi
公司文化在成功的企业并购中所扮演的角色
1主要从理论和经验两方面分析回顾,可以发现三种主要方式在实施并购中存在的问题：产业组织、财政经济和战略管理.通常,研究成功实施并购的关键因素主要集中于所谓的先进范例中,主要从现有资源上分析,并尝试去鉴别哪些特定管理活动和组织因素在经济方面的卓越贡献成功的在并购活动中起到了积极作用.包括Blake和Monton、Jemison和Sitkin,Salter和Weinhold,Haspeslag和Farquhar在内,他们均表明成功实施并购很大程度上取决于根本的计划和实施的一贯性.Haspeslag和Farquhar特别强调指出了服从在战略和组织结构实施国所起的重要作用.在另一方面,销售人员、Mirvis、Shrivastava和Nahavandi和Malekradeh,深入的研究了在社会与文代化因素在组织文化融合及合并过程中的影响.
2当谈到成功的成功的企业并购活动,因此,许多文献指出需要战略的实施和组织的管理一致并互相配合.结果表明,使用明确描述的方式综合分析介入的企业并购中的企业的多方因素,有利于改进介入企业在合并过程中所起的作用并避免各部门在合并中出现的经济危机.实际上,以下两种管理行为被认为是在企业并购中的成功的关键因素.一是分析战略实施的集中性；二是评估现有公司人员的特征与组织框架的兼容性.
因而在实施合并这一阶段中存在着介入企业之间的组织,人员及流程之间的问题.两个公司之间的相关性极大的影响了公司间的融合,因此,在选择并购的计划阶段,企业的相关性成为企业购买或合并的关键因素.可以看出,公司的相似度越高,合并成功的可能性就越大.相关度可以看成是各公司在市场及产品矩阵包括程序,组织,管理和企业文化在内的互补.
水平有限,仅供参考.人名均未译