Knowledge of post-merger integration issues

Paper Keywords: M & Knowledge Management Knowledge Integration
Abstract: This article from the definition of M & A analyzes the post-merger integration issues, put forward in the knowledge economy, knowledge integration and the important role of companies in mergers and acquisitions, and then come to the knowledge after the merger integration model to the current economic M & A business environment have reference.

0 Introduction
As the financial crisis intensified in 2008, around the world are inevitably suffer heavy economic plane, while governments make every effort to finance the bailout, but poised to have a long economic crisis will not be a sudden elimination. Is the direct result kind of enterprise funds to reduce layoffs. even some well-known enterprises to adopt measures to tide over the difficult merger, the largest U.S. auto companies like General Motors, announced the news at present, will acquire the third largest U.S. auto companies - Chrysler Motor Company. and according to a McKinsey & Company, authoritative information shows that in Western countries, after the acquisition of real enterprise expansion and positive development, but also all the M & A cases only 20% to 30%, M & A failure rate is high mainly because the integration after M & A were not effective. In the knowledge economy, knowledge as the competition for resources critical business if can not be fully utilized, will result in reduced competitive advantage, and even the status of the world economy weakened. Therefore, knowledge of the enterprise to integrate acquisitions, mergers and acquisitions to become the kinds of companies need to solve the problem.

1 M & A
M & A in English has two words: Mergers and Acquisitions, literally, it contains two meanings of mergers and acquisitions, in two ways. Customary international mergers and acquisitions together will be used, referred to as M & A, in collectively referred to as M & A in China. In essence, mergers and acquisitions (M & A) refers to the role of the market mechanism, enterprises based on the specific procedures required by the legal system, the enterprise in order to obtain control of the target company's property transactions carried out, is an important capital operation activities. and such activities are mainly two ways to achieve that corporate mergers and acquisitions.

Enterprise 1.1 merger mergers narrowly refers to the role of market mechanism, the enterprise property rights obtained through the ownership of other enterprises, so that the loss of legal personality of the merged enterprise, and get control over their economic behavior. Broad merger is an enterprise to obtain control of another enterprise, so that a number of companies to operate together to form a whole.

Enterprise 1.2 refers to the acquisition of a business enterprise through the acquisition of another company's assets or shares to buy in order to obtain effective control of the business transactions of property rights. Asset acquisition is a purchase of another company some or all of assets, the acquisition of shares is a company directly or indirectly refers to another company to purchase some or all of the shares, making it the shareholders of the acquired company, with a corresponding commitment to the company's debt.

2, the integration after M & A
Enterprise Integration is the industrial optimization and resource re-allocation of a phenomenon or a process. Now largely completed the acquisition from the five business integration: integration of business Strategy, that is, the advantages of the strategic aspects of corporate mergers and acquisitions to integrate, in order to improve their overall profitability and core competitiveness, organizational and system integration is in merger to form a unified and orderly system of organization structure and management systems to the stability of business operations as soon as possible: integration of human resources is the staff of M & A business through the adjustment training, incentives and other measures to achieve staff reorganization and integration, to achieve the acquisition of the human resource needs and to prevent the effective turnover objectives: integration of corporate culture is conscious of the acquisition of companies of different cultural orientation or cultural factors through effective land consolidation rectification, and their combination into an organic whole process is cultural ideas, cultural awareness and cultural practice the process of integration, financial integration is the use of financial integration theory to establish a sound and efficient financial system system, and ultimately maximize returns and M & A business, investment, financing and other financial activities to implement effective management.

With the accelerating process of globalization and the changing era of knowledge economy and in-depth, the M & A business is within its capacity to analyze all aspects of M & A success and try to achieve effective integration, in order to achieve maximum benefits after the merger and competition force enhancement, the most important aspect is the problem of post-merger integration of knowledge.

3 Knowledge Integration after Merger and Acquisition
In early 1996, the OECD suggests that "knowledge-based economy", that is knowledge-intensive economy based on intellectual resources, the knowledge economy is a high degree of importance of knowledge production, knowledge dissemination and knowledge application of the whole process as the core, high-tech , efficient system of scientific Research backing to the pursuit of knowledge constantly updated to target the economic, since the world officially entered the era of knowledge economy. It can be seen that knowledge into economic growth and social development and growth of key business resources knowledge economy requires business management focus shifted from the tangible assets of intellectual capital, and the corresponding study of Knowledge Management has been further attention. Knowledge Management (Knowledge Management, KM) is to knowledge as an important resource, knowledge accumulation and processing, dissemination and sharing of knowledge, innovation and application of knowledge, raising the level of Knowledge Management, enterprise and individual and collective wisdom of employees to improve the innovative capability and competitiveness, creating a sustainable competitive advantage in the management activities. here knowledge into tacit knowledge and explicit knowledge, explicit knowledge can be expressed in words and figures, to data, scientific principles, specifications and manuals of a particular form of manifestation of the individual or organization can at any time between the formal and systematic each transfer, while tacit knowledge is very personal and flexible things, vary, it is difficult to use a rigid formula to be described and, therefore, difficult to spread or shared.

Current knowledge management theory and applied Research has made great progress, but as an important part of knowledge management, integration of knowledge is not enough. The so-called knowledge integration is to use scientific methods to different sources, different levels different structures, different knowledge of the contents of a comprehensive and integrated implementation of the re-construction, so that a single knowledge, fragmented knowledge, through the integration of old and new knowledge to enhance the formation of new knowledge, knowledge integration should be noted that existing knowledge is by no means the simple addition of but a process of knowledge innovation, companies are only after real knowledge integration, knowledge management can be substantial. According to the enterprise knowledge theory, knowledge is continuing to obtain a major source of competitive advantage, and to complete the acquisition of effective integration of the enterprise, the purpose is to bring companies from different implicit or explicit knowledge, reasonably comprehensive, integrated to form a new business knowledge, creating new competitive advantage.

4 Knowledge Integration after Merger and Acquisition Strategy
4.1 Knowledge Integration after M & obstacles First, as noted above, because tacit knowledge can not be expressed in language and words, explicit and tacit knowledge transfer is very difficult, so the company after the merger and transfer of knowledge is difficult to sharing, and often the deviation of the transfer process, resulting in knowledge of the conflict, and secondly, they acknowledge that follow the "observed percolation theory", American British scientists observed N �� Hansen penetration theory that the instinct of observation depends on its existing knowledge and experience the observer's knowledge of the background will affect the results of observation and interpretation of the observation. M & exchange of knowledge transfer, the parties affected by the existing knowledge structure, cognitive structure, the serious impact of the knowledge of their own perception of each other's behavior and observed knowledge, and to respond. As a result of the different M & A business, knowledge, speed and integration with the enterprise itself and the effect of the nature of knowledge, cognitive style and knowledge absorptive capacity and so closely related. According to theory of enterprise knowledge, business knowledge knowledge can be divided into homogeneous and heterogeneous knowledge. As a result of the different business environment in which employees of different degree of specialization of knowledge, different ways of interaction between staff, M & A knowledge of both sides there is a certain rejection of the heterogeneity of the phenomenon. homogenous acquisition of knowledge is Enterprise bridge, while the heterogeneity is caused by the sudden knowledge of the potential causes. in the integration process, with the absorption of other knowledge, the heterogeneity of homogeneity of knowledge, more and more homogeneous knowledge, knowledge will gradually converged. Knowledge Integration conflict The reason is the inherent heterogeneity of knowledge between enterprises stock, difficulties in transferring tacit knowledge, and cognitive style of enterprises and absorptive capacity. a business combination, we should be running and adjust, mutual and equal exchange of knowledge of the parties. Even assimilation of the other party to the strong resources of the vulnerable resources, can not be forced to, but to be and party employees to accept and identify with. Again, individuals from the staff psychology and demand, the company is a carrier of knowledge workers and departments, valuable knowledge exists in some of the employees and departments, and advantages of the privileged position to consider the status of knowledge has often reluctant to share their knowledge with others. Finally, the appropriate technical means but also accelerate the pace of knowledge transformation and an important condition for efficient integration , including computers and other modern information technology. However, due to various reasons, many enterprises do not have these conditions present, which is the leading enterprise knowledge integration is an important cause of inefficiency. reposted elsewhere in the Research Papers Download http://www. hi138.com 4.2 Knowledge Integration after Merger and Acquisition of M & A business model is based on the knowledge integration, and in this knowledge after the proposed merger integration model that includes two dimensions, one dimension of the upper part, knowledge integration process, the second is the lower half of the dimension of knowledge that support integration of the three elements shown in Figure 1:

4.2.1 Knowledge acquisition is to collect and organize the business after acquisition of explicit knowledge and tacit knowledge, to find the need to integrate the object. And not only from the acquisition of this knowledge within the enterprise, including companies associated with the acquisition of linked to some external knowledge. Knowledge acquisition is the knowledge an integral part of the integration process in the whole process of knowledge integration is the foundation of the only good working knowledge of the collection was likely to further the use of knowledge and create knowledge.

4.2.2 knowledge of the actual screening includes two aspects, first the identification of knowledge, is the collected knowledge to identify, analyze its usefulness and importance of the enterprise.'ll Find in the identification process, the enterprise obtained knowledge is not all conducive to the realization of their overall knowledge integration, so to abandon the useless knowledge of business Strategy and concentrate on managing the company's core knowledge. However, use strategic vision for knowledge evaluation. because some knowledge of possible the development of enterprises is now useless, but it may affect long-term profits, this knowledge should not be abandoned but should put them in the knowledge base for future use. On the other hand the classification of knowledge is also important for the acquisition all the knowledge to tacit knowledge and explicit knowledge in accordance with the categories to be divided, because the way the conversion of two kinds of knowledge, sharing the process varies widely, table pounds to two kinds of knowledge need to be clearly defined in order to be targeted for knowledge conversion or transfer of the steps to promote the exchange of knowledge. In general, the ultimate goal of this process is to better promote the exchange of knowledge.

4.2.3 Knowledge sharing refers to the front filter of knowledge in all kinds of good business to be passed between departments and feedback. This will not only help to explicit knowledge sharing, but also for the fuzzy, and difficult to be significant situational nature of the tacit knowledge can also promote sharing. knowledge sharing is critical aspect of knowledge integration, if the M & A business can not be between the exchange and communication, knowledge sharing can not be achieved, then for the final out of the question of knowledge integration is the.

4.2.4 Knowledge Integration refers to those who after finishing, useful knowledge can be shared to form a new comprehensive and integrated knowledge system. The ultimate goal of enterprise knowledge integration is to enable the transfer of knowledge to achieve shared between the staff , and only after the integration of knowledge sharing to everyone involved, to make business in the true sense of knowledge, access to knowledge competitiveness. Knowledge management is the key to effective integration of knowledge, namely, to promote individual knowledge to organizational knowledge transformation, to become a valuable resource, the key assets and critical factors of production, enterprises not only have the core technology and core products, more important is to have the ability to integrate effectively. Therefore, knowledge integration is the key to the whole process.

In addition, the integration of knowledge within the enterprise must rely on three factors also play a very important role in supporting the first, corporate culture is an enterprise management practice in the long form of the spirit of all the staff, ideas, style, mentality and habits of the sum of the . It has a staff of enterprises have an enormous appeal, and guide them to put their wisdom and ability to enterprise development objectives and direction of the guide features up through the staff to communicate ideas, the formation of employee goals and values ​​of corporate identity on their own sense of responsibility and sense of belonging to enterprises, enterprises have become a powerful rallying the whole function, emotional motivate high strength to forge ahead and form a strong sense of mission and its lasting power of the incentive function of behavior: further employees as a group have a code of conduct for all members of society have called on the behavior of the constraint function and control of power. Therefore, the organizational culture in mergers and acquisitions business in the integration process is necessary to establish a conscious effort to encourage knowledge exchange and sharing of encourage mutual learning, knowledge at the core of the corporate culture, will contribute to the smooth implementation of knowledge integration. Second, the carrier of knowledge, most of them are employees or a small group of individuals, especially for tacit knowledge is very personal of the, how can the staff take the initiative to organize their knowledge to the public knowledge base stored in order to promote large-scale sharing of it? the most effective incentive mechanism is reasonable, according to a variety of incentive theory, for the knowledge resources very nature, can the skills of specific knowledge as to quantify staff, for example, knowledge of equity can be promoted as the capital, and even individuals or groups based on the effective sharing of knowledge and the amount of reserves to develop wages and so on. Finally With the development of science and technology and information technology continues to improve, now any implementation of a system or program can not do without the necessary technical means to support, as the necessary computer technology, various types of testing, statistics software are the technical requirements necessary for modern enterprises, therefore, must always pay attention to the needs of technology and technology as much as possible to gather relevant information, which will greatly benefit the efficiency of knowledge integration.

Overall, the post-merger integration model of enterprise knowledge are the two dimensions of interaction, interdependence, the same time, the dimension is the dimension of a second to provide the necessary reference for the establishment in order to make the necessary adjustments, and the dimension Second, the dimensions of a foundation, it can be said that the environment, the optimization of the environment will contribute to the implementation of one dimension, the ultimate goal of both is the same, that is to promote the effective post-merger integration of enterprise knowledge to enhance competitive advantage. Links http://www.hi138.com Research Papers Download