인수 통합 접근법(Acquisition Integration Approaches)

지식 센터


기업인수합병 (M& A, Mergers and Acquisitions). Philippe Haspeslagh David Jemison의 인수통합 접근법의 설명. ('90)


  1. 요약
  2. 포럼
  3. 모범 사례
  4. Expert Tips
  5. 자료
  6. 인쇄

Philippe Haspeslagh 의 인수통합 접근모델은, 인수합병에 대한 통찰력과 가이드라인을 제공하여, 최적의 통합에 대한 접근법을 선택할 수 있게 해준다.

인수합병시, 전통적인 모토는 : "우리와 같게 만들라"이다. 또는 비교적 단순한 기준을 통한 접근이 이루어졌다. 예) 인수기업의 규모와 질.

Haspeslagh와 Jemison (1990년)는 회사가 통합을 위해 취해야 할 접근은 2가지 (추가적인) 기준을 고려함으로써 이해되어야 한다고 했다 :

  1. 전략적 상호의존을 위한 필요M&A - Acquisition Integration Approaches[인수통합 접근법].
  2. 조직 자율성에 대한 필요.

인수합병을 통한 4가지 형태의 가치창출

어떤 인수이던지 그 목표와 주요 과제는 2개의 조직이 통합됨으로써 발생되는 가치를 창출하는 것은 명백하다. 가치창출의 4가지 유형 :

  1. 자원 공유. 가치는 회사를 운영수준에서 결합함으로써 창출된다.
  2. 기능적인 기술의 전가. 가치는 특정 사람들의 이동, 정보, 지식 및 노하우의 공유를 통해서 창출된다.
  3. 일반 관리기술의 전가. 가치는 증가된 통찰력, 조화 또는 통제를 통해 창출된다.
  4. 조합의 이점. 가치는 차입된 현금자원, 차입능력, 증가된 구매력 또는 확대된 시장의 힘 등에 의해 창출된다.

조직의 자율성

Haspeslagh와 Jemison는 매니저는 인수의 전략적 역할이 가치를 창출하는 것이라는 사실을 간과해서는 안된다고 경고한다. 나아가, 비록 사람이 중요하고, 공평하게, 인격적으로 대우해야 하지만, 성급하게 자율성을 부여해선 안된다. 조직의 자율성에 대한 필요는 다음 3개의 질문을 통해 알 수 있다 :

  1. 자율성은 인수한 전략적 능력을 유지하는데 필수적인가?
  2. 질문1에 대한 대답이 긍정적인 경우에, 얼마만큼의 자율성이 허용되어야 하는가?
  3. 어느 특정 부문에서 자율성이 중요한가?

선호되는 인수합병모델은

상기 2개의 요인의 점수를 기준으로 (도표 참조), 선호되는 인수통합 접근법은 :

  • 흡수. 경영진은 인수의 비전이 확실히 실행될 수 있도록 대담해져야 한다.
  • 보전. 경영진의 초점 : 인수 혜택의 소스를 유지하고, 성장시키는데 있다.
  • 공생. 경영진은 비슷한 사업경계의 유지 및 경계 침투성(permeability), 점진적인 과정을 확보해야 한다.
  • 보유. 통합의 시도와 가치는 단지 재무적인 이동, 위험공유 또는 일반관리능력에 의해서만 창조되지 않는다.

인수 통합 접근법 포럼
  Combining Integration and Autonomy in Acquisitions
According to the literature on acquisitions, it is of high importance to decide on the proper level of integration between the firms in order to realize value from an acquisition. It is often considered that there is a trade-off between integratio...
  What HRM Theories are used in M&A?
What theories of HRM are usually applied in mergers and acquisitions?
How about configuration and contingency approaches? Thanks for your suggestions......
  2 Perspectives on Post-acquisition Integration
One can distinguish two perspectives when discussing acquisition integration:
1. Organizational Behavior Perspective towards Post-acquisition Integration (also called: 'Human Integration Perspective...
  What makes M&A So Attractive Compared to Organic Growth?
I think one reason for the low success rate of M&A is that many times the merger arises from opportunity and not from genuine strategic planning. Sometimes board members meet loosely, see some similarities and the idea is borne.
Seldom you see a...
  Mergers and Acquisitions in Africa
Mergers and acquisitions are not very common in Africa.... I wonder why?...
  Do Mergers and Acquisitions Add Value?
As a theory it is expected that the value of the two firms after merging should rise. But this is often not the case in real life. Why?...
  Mergers and Acquisitions (M&A) Success Factors
What are the factors affecting the success after a merger, acquisition or takeover?...
  Reasons for Mergers and Acquisitions?
Please help me understand why any company would want to merge with some another company. What are the typical main reasons behind mergers and acquisitions?...
  Da Annullamento and Da Concambio in English?
I'm writing a thesis degree on Italian and U.S. mergers. In Italy, mergers generate deficits ("Disavanzi") or surplus("Avanzi"). We have two types of these called "da annullamento" and "da concambio". The first one is generated due to the cancellatio...
  Global Number of Mergers & Acquisitions
How many company M&As are done annually across the globe?...
  The right Leader during M&A
The role of HR in M&A is important, but the role of the future Country or Regional Leader is critical. If that Leader is not "neutral", it is hard to have the right new and effective top management: this person can destroy the shared values....
  Culture Clashes in M&A
Many studies report that up to 80% of M&A are failing to create value and this is mainly due to culture clashes during the integration phase. Some authors have suggested that like financial and operational, a Cultural Due Diligence should be...
  Increase the role of HR in M&A
Many mergers and acquisitions fail to deliver on their initial promises partly because of cultural/people issues. The role of HR in M&A should be increased to avoid this, especially in early stages. In this way potential culture clashes can be...

인수 통합 접근법 시그(SIG)


인수 통합 접근법 교육 및 이벤트

교육, 세미나 및 이벤트 찾기

모범 사례 - 인수 통합 접근법 프리미엄

Expert Tips (ENG) - Acquisition Integration Approaches 프리미엄

Why M&A is not a Strategy

Note that M&A is just a tool to achieve something; it is not a strategy by itself. Some companies seem to be acquiring merely for the sake of top-line...
Usage (application) : Mergers and Acquisitions Planning, Strategy

Mergers and Acquisitions: Success Archetypes

According to Marc Goedhart, Tim Koller, and David Wessels ("The Five Types of Successful Acquisitions", McKinsey Quarterly, July 2010), the strateg...
Usage (application) : Mergers and Acquisitions, Strategy

Value Creation in Cross-Border Mergers and Acquisitions

There is a rise in the amount of cross-border mergers and acquisitions (M&As). These cross-border M&As are subject to a set of factors that affect ...
Usage (application) : International M&A, Value Creation

Focus Areas after a Merger for Leaders

In McKinsey Quarterly 2006/4 is an article on the art of postmerger leadership. McKinsey mention 5 challenges for postmerger leaders:
1. Create a...
Usage (application) : Post-merger Integration, M&A, Strategy

Rules for Successful Acquisition Campaigns

In his HBR article "Rules to Acquire By", Pitney Bowes' CFO and Executive VP Bruce Nolop shares some lessons learned by his organization during succes...
Usage (application) : M&A, Strategy

Attributes of Success of Successful Acquisitions

In an empirical study of 24 acquisitions, Hitt, Harrison, Ireland and Best examined that successful acquisitions share following organizational attrib...
Usage (application) : Strategy, M&A

What are the Key Responsibilities of the Board in M&A?

Cookson (iancookson@gt.com) recommends the following useful shopping list in the "Financial Excutive" of Oct2004:
- What are the integration pla...
Usage (application) : Board Responsibilities, Mergers and Acquisitions

Potential Strategic Objectives of Mergers & Acquisitions

Many mergers and acquisitions are driven by strategies in order to achieve one of the following five strategic M&A objectives:
1. To exte...
Usage (application) : Mergers & Acquisitions, Strategy

Platform and Bolt-on Acquisitions Types

When it comes to assess a potential acquisition, Pitney Bowes, famous for its successful acquisition strategies, applies different criteria according ...
Usage (application) : M&A, Strategy

Communication Strategy Before, During and After a Merger

Of the many complex decisions that senior executives make before and during a merger, one is mandatory and critical but often given short shrift: the ...
Usage (application) : Branding, Communication, M&A

Principles for Successful M&A integration

1. Use a personal touch: One of the most important elements of a successful M&A integration is clear and consistent communication with employees of bo...
Usage (application) : Post-Merger Integration

The Relation Between Organizational Fit and Post-acquisition Integration Performance

The term Organizational Fit is an important aspect when considering the post-acquisition integration performance. The term refers to the degree of c...
Usage (application) : M&A Strategy, Post-merger Integration

The Drivers of Merger Success

Many mergers fail. Everybody knows that. Marc J. Epstein thinks there are seven determinants of merger success:
1. strategic vision
Usage (application) : Post-Merger Integration

Reasons for M&A Failures

Research from Hay Group and La Sorbonne University on European merger and acquisition operations of the last 3 years highlights 2 unusual failure caus...
Usage (application) : Avoid these Mistakes in M&A

Cold Hard Facts about Acquisitions

One should recognize some cold hard facts about mergers and acquisitions. In the book: The Complete Guide to Mergers and Acquisitions, the authors Tim...
Usage (application) : When you're considering an acquisition

Guidelines for a Smooth Post Merger Integration

In the article "The Ten Commandments Of Integrating an Acquisition" by Jess Varughese and Peter Bond (USBanker, July 2008), the authors use the...
Usage (application) : Integrating an Acquisition

자료 - 인수 통합 접근법 프리미엄


인수 통합 접근법


합병 인수


인수 통합 접근법


합병 인수

프리젠 테이션

인수 통합 접근법

프리젠 테이션

합병 인수

인수 통합 접근법

합병 인수

인수통합 접근법과 관련 개념 : Core Competence[핵심역량]  |  Leveraged Buy-out [LBO, 차입 매입]  |  양육 형태  |  Value Based Management [가치기반 경영]  |  Porter  |  Parenting Advantage [양육우위]  |  Horizontal Integration [수평적 통합]  |  선회 관리  |  Management Buy-out[MBO, 내부경영자인수 방식]  |  BCG 매트릭스  |  Growth Phases [성장단계모델]  |  Distinctive Capabilities [독특한 능력]  |  Organizational Configurations [조직의 유형]  |  조직도  |  Outsourcing [외주]

다른 페이지로 이동: Change & Organization [변화와 조직]  | 재무와 투자  |  지식과 무형자산  |   전략

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