The Study on the Relationship of Firm Resources, Dynamic Capabilities and Acquisition Strategies — The Case of Lenovo's acquisition of IBM's PC division

• Main Authors: Hung-jen Cheng, 鄭閎仁
• Other Authors: 翁望回
• Format: Others
• Language: zh-TW
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/scp24y

碩士 === 東吳大學 === 企業管理學系 === 96 === Firms could adopt modes like strategic alliance, joint venture or M&A in order to seek for growth. Although firms are able to enter markets quickly by M&A, it may be in effect instantly. Many researches showed the results were failured for most cases in the past. As a result, this study adopted the most representative case-the acquisition of Lenovo and IBM PC department. This essay took one-shot case study and secondary data analysis to discuss the motives of M&A. In addition, this research also concentrated on five resources (organizational culture and managerial experience, human resources, research and innovation capabilities, low-cost manufacturing capabilities and brand and marketing )whether they could be fit with cross-border Acquisition strategy or not. Besides, this paper suggested that the process of this case effect the M&A activities based on the dynamic capability perspective. The study had three major points. First, the major motivation of Lenovo was“strategic motives”--because of market expansion and research techniques. Second, the results of the acquirer cross-boarder Acquisition strategy fit with low-cost manufacturing capabilities and brand and marketing. But it didn’t fit with organizational culture and managerial experience, research and innovation capabilities, and human resources. Third, as for dynamic capability perspective, if target firms were larger than acquiring ones, target ones transferred resources to acquiring ones. In addition, this study discovered their brand resource could acquire complementarity resources. It meant there were positive effects in M&A activities within the same industry. Although Lenovo didn’t gain any experience from M&A, they were more careful in the process in M&A.