企業(yè)組織形式概述-全文預(yù)覽
【正文】 i Cola, America, which is an example of ______________ merger. horizontal vertical congeneric congeneric conglomerate 31 What’s the difference between merger, acquisition, joint venture and alliance? 32 Ways of mergers: ? Transfer of assets（資產(chǎn)轉(zhuǎn)讓） ： X and Y merge to form Z – Z acquires trade and assets from both X and Y in return for shares in Z. X and Y are liquidated and the shares in Z are distributed to shareholders of X and Y. ? Transfer of shares（股份轉(zhuǎn)讓） ： Z acquires shares in X and Y in return for its own shares. X and Y, as subsidiaries （子公司） of Z, may subsequently transfer their trade and assets to their new parent pany Z. 33 Ways of acquisitions: ? Transfer of assets: (B takes over A) B acquires trade and assets from A for cash. A is then liquidated, and the proceeds（所得款項(xiàng)） received by the old shareholders of A (transfer of assets). ? Transfer of shares: B acquires shares in A from A’s shareholders in exchange for cash. A, as a subsidiary of B, may subsequently transfer its trade and assets to its new parent pany, B. 34 Reasons Growth Decrease Cost Eliminate Competition Why do panies merge with or acquire other panies? Synergy 35 Benefits ?Improve profitability and EPS ? Enter a new market and introduce new products ? Increase market share ? Gain higher petitiveness 36 CASE STUDY 1 37 HPCompaq Merger 38 Event： HP merged with Compaq When： September 2023 How much： 25 billion dollars Type： Horizontal Merger 39 Compaq ?1982, Houston . ?Employees: 63,700 ?2023 Revenues: $ HewlettPackard ?1938, California . ?Employees: 86,200 ?2023 Revenues: $ Michael Capellas 40 1. Could not meet the targets 2. Improvement in the internal strategies was not going to be sufficient 3. To fight the growing petition Why did HP merge Compaq？ 41 42 merged Fiorina Board chairman CEO Capellas President 43 Has 145,000 employees Sells products in 160 countries hp paq After merged Net Assets $324bn $239bn $564bn 1. Enlarges pany scale Changes after merger 44 Market Share Ine 45 46 20232023 47 Competitiveness 2023年第四季美國(guó) PC廠商出貨量 (單位：臺(tái) ) 48 ? Lager Company Scale ? Higher Market Share Ine ? Stronger Competitiveness ? Better Opportunities CONCLUSION— Advantages 49 Case Study 2: ? China39。而股份公司無(wú)須改制，即可依法申請(qǐng)上市。 17 LLC vs. Co. Ltd： ? 有限責(zé)任公司由兩個(gè)以上五十個(gè)以下股東共同出資設(shè)立；股份有限公司由五人以上為發(fā)起人，股東無(wú)人數(shù)限制，全部資本分為等額股份。Chapter 1 Forms of Business Ownership Introduction to Business English 1 This chapter is easy to read. Please follow the instructions to read the text. 本章重點(diǎn)： 1. 各種企業(yè)產(chǎn)權(quán)形式的定義 2. 各種產(chǎn)權(quán)形式的優(yōu)劣勢(shì) 3. 股份公司與有限公司的區(qū)別 2 Please find the definitions of the following terms in your textbook. ? Sole Proprietorships ? Partnerships ? Corporations ? Limited Liability panies
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