To achieve synergies : know your targets
45311 mots
182 pages
To achieve synergy; know your target!An empirical research to determine which integration strategy is favourable for achieving operating synergy following a merger or acquisition in the Dutch SME market
MSc Thesis
Michiel Vos
Supervisors: Mrs. A. Sabidussi MSc Dr. E.F.M. Wubben F.A.J. Kuipers MBA RV Drs. D.A. Boissevain RC
Amsterdam, February 2008
To achieve synergy; know your target!
An empirical research to determine which integration strategy is favourable for achieving operating synergy following a merger or acquisition in the Dutch SME market
Amsterdam, February 2008
Student: Reg. No: College year: Department:
Michiel Vos 830927 908 070 2007 / 2008 Management Studies Group, Wageningen University & Research Centre
Specialization: Code:
Management Studies MST-80430
Supervisors WUR: Mrs. A. Sabidussi, MSc Dr. E.F.M. Wubben Supervisors AenF: F.A.J. Kuipers MBA RV Drs. D.A. Boissevain RC 1
TABLE OF CONTENTS
List of abbreviations ________________________________________________________ 5 Acknowledgements _________________________________________________________ 6 Management summary ______________________________________________________ 7 Introduction ____________________________________________________________
___ 9 1 2 Problem statement ____________________________________________________ 10 Conceptual research design _____________________________________________ 12
2.1 2.2 2.3 2.4 Research objective ______________________________________________________ 12 Research issue_______________________________________________________
___ 12 Research framework ____________________________________________________ 14 Key-concept definitions __________________________________________________ 16
3
Integration Strategies __________________________________________________ 20
3.1 3.2 Importance of a suitable integration strategy ________________________________ 20 Integration approaches