Cross-border mergers and acquisitions are a shortcut to development. The dream of 1+1>2 has made numerous companies go ahead. But this shortcut is also full of bumps and thorns. Too many companies fail to complete their initial dreams. The famous "Seven-seven Law" once pointed out that 70% of mergers and acquisitions did not achieve the desired commercial value, and 70% of them failed to integrate after the merger. Cross-border mergers and acquisitions look beautiful, but cultural differences are the biggest barrier!
In February 2011, a group of photos led to the reprinting and hot discussion of many Internet users on the Internet. The Chinese on the photographs are the familiar Geely car owners Li Shufu, and the foreigner who is helping him to undress is Volvo Car Corporation. President and CEO Stephen Jacobs. From the photos, Li Shufu is comfortably enjoying "Jaguar's" service. Netizens ridicule, it seems that the foreign CEO has learned Chinese style of flattery culture.
Immediately afterwards, it was discovered that at the press conference, Li Shufu who sat on the stage did not speak too much. He gave most of the time to Stephen Jacobs. The media commented on this: For this foreigner from Sweden, Li Shufu gave his face.
On this day, August 4th, 2010, Geely completed the acquisition of the entire equity interest in Volvo. At this point, the world's third-ranked safety technology world ranked first, with more than 80 years of history of the luxury car brand, was only bought by China Geely Automobile with a history of only 13 years. People liken this M&A image to “transnational marriageâ€. One party is a rural youth from the East, and the other is a Nordic princess. The disparity in the status of both parties is doomed to hardships.
When Sandermer, a senior engineer of Volvo, learned that Volvo would be sold to Geely, the head of the union of engineers was the first to take the lead and strongly opposed. His reason was simple: Geely from the East did not understand Volvo culture at all. . Volgo's senior engineer Magnus Sandmer said in an interview that the famous car brands in the West are often imitated by Chinese companies. In their culture, it is important to maintain their uniqueness. In order to prevent Geely from acquiring Volvo, the Engineers Association of Magnus Sandermer even united with a Swedish consortium to make a half-way attempt to compete for Volvo, but they were unable to raise enough funds. Therefore, it cannot compete with Geely. Although Geely had hoped to buy Volvo at the time, the union’s position was not to welcome the Chinese. The Volvo Car Engineers’ Union, consisting of 1800 engineers, still hoped that the company would be led by the Europeans because they knew more about Volvo culture. So what exactly are the cultures they emphasize? The answer we got in the interview was: Culture is a way of life, culture has its own journey, and it starts with people and ends with people.
Shen Hui, senior vice president of Volvo Cars Worldwide, said that culture can be compared to a lotus flower. Below the surface of the water is culture, which cannot be seen, but it will affect various behaviors on the water. The concept of culture has always been widely discussed. According to the statistics of the American culturists Krober and Clarkehon in 1952, scholars around the world have defined more than 160 kinds of culture. The famous Dutch scholar Hofstadter suggested that culture is not an individual feature but a psychological program shared by groups with the same education and life experience.
Seven years ago, Lenovo acquired the personal computer business of the industry's originator and blue giant IBM in the form of snakes and elephants. Yang Yuanqing, the chairman of the company, moved his family to the United States. From the time he got off the plane, he felt two kinds of things. The great difference brought about by culture. Yang Yuanqing was out of the airport at the time, looking for a long time, even a person who received a card to pick him, he had to call each other. In order to resolve this cultural difference, in the following two years, Lenovo China has set up a reception organization exclusively in the United States, which is responsible for all the reception of Chinese senior executives in the United States. The huge differences in culture are gradually reflected in every detail of daily work. Luo Ruide, chief operating officer of Lenovo Group, told reporters that at the beginning of the meeting, U.S. colleagues would speak loudly and be very active; while Chinese colleagues appeared to be conservative and quiet listeners.
In the eyes of Volvo employees, there was also such a difference between Ford Motor Company, the former purchaser, and Volvo. Even though they are on the banks of the Atlantic Ocean (12.36, 0.03, 0.24%), the cultural gap is always insurmountable. Magnus Sandmer said that the most negative aspect of U.S. corporate culture is tight control. Swedish culture emphasizes practice. It should not be step by step, because the company relies on employees. Professor Du Shangzhe of the HEC School of Business in Paris told us that when it comes to acquiring a company with a completely different background and language, it not only has a national culture but also a corporate culture, which makes it more difficult.
Liu Chuanzhi, chairman of the Lenovo Group's Board of Directors, said that what has been the most fundamental issue in the culture today? People from different regions of China and the West, people from different companies, and different backgrounds can work together. “Variety is different in a country and rules are changed ten years.†In fact, cultural differences exist everywhere. An inadvertent move may lead to a misunderstanding. Ordinary words may even trigger a conflict. The integration of culture is a hurdle for any company that has undergone cross-border mergers and acquisitions.
On October 28, 2009, Li Shufu ushered in a cultural examination. On this day, when Ford announced that Geely had become Volvo's preferred bidder, Li Shufu, together with Ford executives, flew to the Volvo Gent factory in Belgium to conduct a dialogue with the trade union representatives there. Geely Automobile CEO Li Shufu said that if the trade unions have too much advice, mergers and acquisitions will be difficult to achieve. What Li Shufu worried about is that the Western Union is different from China. They can negotiate with employers, can adjust the company’s adjustment of products, can strike, and even say “NO†to potential new owners. A conference room at the Ghent factory was the "examination room" at the time. Six leaders from different unions in the Ghent factory are the “examiners†of the day.
Philip Mortier is one of the "examiners" of the day. Philip Mortier said that Mr. Li Shufu was sitting here with his colleagues, next to the translator. He asked the candidate “Li Shufu†a question: Please use three words to explain why Geely is the most suitable company to bid for Volvo? Li Shufu said, "I love you, I love you. This is Volvo." Li Shufu is not proficient in English, even with the English flavor of Zhejiang, "I love you." Then the party laughed and everyone laughed. From then on, the parties involved in the meeting really relaxed and the meeting really began.
In cross-border mergers and acquisitions, 70% of mergers and acquisitions did not achieve the desired commercial value, and 70% of them failed to integrate after mergers and acquisitions. The higher the cultural difference is, the higher the probability of failure is. This rule is summed up as "the Law of July 7th." ". In 1998, Daimler-Benz, Europe’s largest industrial company, and Chrysler, the third-largest automobile manufacturer in the United States, carried out the largest merger and acquisition case in the history of the world’s automobile industry, bringing endless restrictions to people.
Former Daimler-Benz CEO Jørgen Spump considered the merger as the largest auto industry merger in history and agreed to make DaimlerChrysler the most competitive giant in the automotive industry. But this coalition, known as a natural match, was eventually defined as the most failed merger. The media commented on them as such: Corporate culture is the key point. In mergers and acquisitions, this cannot be done. Others are excused.
The difference in culture is the cause of the huge differences in business philosophy and thinking between the two parties. Chrysler, which values ​​the interests of shareholders, likes to introduce cheap and practical new products as quickly as possible, but German companies that attach importance to stakeholders have attached great importance to quality. It often delays the advent of new products. Soon, Chrysler experienced market miscalculations and soaring manufacturing costs. Less than two years in the merger, Chrysler did not benefit from the merger, but in the United States market share fell below 14% for the first time since the 1990s. In the second half of 2000, Chrysler suffered a huge loss of 1.8 billion U.S. dollars.
Jeffery Krueger, Dean of the School of Management at Loyola University in the United States, said that the US executives have wages equal to three to four times the German staff, mainly because the United States gives stocks and options in addition to wages. The compensation is very high. Different compensation systems have caused dissatisfaction among many Germans within the company. The Americans also have a lot of bad feelings. At the same time, the Germans are good at enjoying public funds and go abroad to meet in first class and live in high-class hotels. Moreover, the German Wenshan Huihai and Red Tape have made the Americans feel difficult to understand. Just two years after the merger, Las Vegas billionaire and DaimlerChrysler’s third-largest shareholder, Kirk Kerkorian, filed a lawsuit claiming 8 billion U.S. dollars against Daimler’s president. In 1998, the promise of implementing a "merger between equals" was "spreading big lies." Nine years later, this "super marriage" came to an end. "It's easy to get in, and it's hard to keep up" is a problem that every company must face when it comes to international mergers and acquisitions. The strength of capital, in the end, can not make up for the cultural cracks.
On the outskirts of Gothenburg, Sweden, 75-year-old Thomas drove his Volvo car almost 80 years almost every day. He walked through country roads. In the hearts of him and many Swedes, Volvo was always proud and he had a Hard to give up feelings. The Swedish public said in an interview that Volvo is a tradition for Swedish families, that is, there will be a Volvo at a certain age, which represents safety. The 80-year-old Volvo is a representative of car safety and has a strict trade union organization. This national industrial brand is known as the national treasure of the Swedes. This is a key part of Volvo culture, and its hidden cultural value is far more than this. Geely, the young Chinese private enterprise, how to manage Volvo?
Geely CEO Li Shufu said that Geely is Geely and Volvo is Volvo. Geely does not produce Volvo, Volvo does not produce Geely, Geely and Volvo are brothers, not a father-son relationship. "This is a brotherly relationship, not a father-son relationship." This view has surprised many people. In their understanding of corporate mergers and acquisitions, cooperation with brothers is rare. Why did Li Shufu do this? Li Shufu said that he believes that the progress of human civilization is a subtle process, not a forced one that is forced. If we say that everyone is a compulsive fusion, the effect will be exactly the opposite. Not only will it not achieve positive results, but it will create a negative shadow. Therefore, on this issue, Geely adopts a very simple method that does not consider or even rush to study the issue of cultural integration.
No matter what kind of conjecture people have, the idea of ​​“reserving the Warrior†has largely eliminated the concerns of the Volvo people. Even Sandme, who once used to sing a negative tone, applauded.
Stephen Jacobs, president and CEO of Volvo Car Corporation, the CEO who had been ridiculed by Chinese Internet users, in his eyes, the culture of Geely and Volvo is like the Chinese food's chopsticks met with Western food knife and fork, each has its own The characteristics of each have their own wisdom, and independence is the best choice after mergers and acquisitions.
According to the research findings of McKinsey, the world's most famous management consulting company, in 2010, in order to reduce risks, more and more Asian companies will not be immediately integrated after the merger. In 2009 alone, more than 1900 transactions with a value of US$145 billion in mergers and acquisitions adopted this approach. Short-term avoidance can reduce risk, but is avoidance a long-term solution?
Jack Welch, known as the world's number one "CEO," has been in the grip of General Electric in the past 20 years, GE completed a total of 993 mergers, the market value has climbed from $ 13 billion to the highest $ 560 billion. Before each M&A, his priority is whether the culture of the two companies can be integrated. Welch said that he is trying to make good use of both cultures, but he also needs to ensure that he can adapt to each other in financial and human resources systems. If the cultural differences between the two companies are too great, Jack Welch's answer is to throw away quickly. Welch said that each company has its own style. Perhaps Chinese companies do not think there is enough talent to maintain Volvo's brand, so they decided to let Volvo do it, but at the same time they would miss the technology integration and missed the financial of the two companies. The benefits of integration and missed opportunities for talent development.
Every two weeks, new employees come to Lenovo's headquarters in the United States and accept Lenovo's first lesson here. Today, every branch of Lenovo's global offices can see employees of different colors and people from different countries everywhere. That year, facing the strong corporate culture of both Lenovo and IBM, as well as the cultural differences between China and the United States, Liu Chuanzhi firmly chose the path of cultural integration. However, in 2008, Lenovo suffered a huge loss. In this regard, Liu Chuanzhi interpreted it this way. The financial crisis itself is a fuse rather than a real gunpowder library. In fact, the problem of management, the collision in culture has really become a gunpowder library.
Afterwards, Liu Chuanzhi returned to the mountains. The first thing that directly intervenes is the construction of corporate culture. At the first stop of a flight to Europe, a conversation with a European executive made him breathless. Liu Chuanzhi said that in the past when the CEO said that everyone agreed, it was respect for the CEO. Why is it that companies are preoccupied with such cultures that "can't say it's not done?"
Today, after seven years of scrutiny, Lenovo has combined the core values ​​of foreign culture with Lenovo to form a more open “new association cultureâ€. The core is: to do it and to do its utmost.
Luo Ruide, chief operating officer of Lenovo Group, the American who worked in IBM for 23 years and worked in Lenovo for 10 years, Westerners and Orientals, the same point is always greater than the difference between them. Lloyd said that no matter if you come from the East or the West, you don’t feel any different. Everyone comes from the same planet and wants to work for important companies. They all want recognition and respect.
Geely, born from a poor boy, gave foreign princesses full freedom after marriage. Is this a short-term act or a long-term choice? Can they love each other and grow old? Now we still don't know. However, Eastern culture has quietly influenced the Volvo people under the "Warlord War". At this year's Shanghai Auto Show, a world premiere of Volvo's "Heaven and Earth" concept car, in the eyes of chief designer Peter Hobly, is the first fusion of Volvo Car's Scandinavian design style and Chinese culture. . Peter Holbury, vice president of Volvo Car Corporation, said that this is a typical Scandinavian model, Swedish model of the car, simple, simple design, without too much decoration. But the car itself is very large, especially at the rear, which is in line with Chinese culture, that is, the back seat is as important as the front seat, and even more important.
In cross-border mergers and acquisitions, cultural conflicts are the major problems faced by the integration, whether it is integration or independence. Enterprises have their own choices and considerations, but in any case, this will be a dangerous route full of thorns. For cultural differences, in addition to communication and understanding, it is more important to prepare for everything before preparing for a merger.
In February 2011, a group of photos led to the reprinting and hot discussion of many Internet users on the Internet. The Chinese on the photographs are the familiar Geely car owners Li Shufu, and the foreigner who is helping him to undress is Volvo Car Corporation. President and CEO Stephen Jacobs. From the photos, Li Shufu is comfortably enjoying "Jaguar's" service. Netizens ridicule, it seems that the foreign CEO has learned Chinese style of flattery culture.
Immediately afterwards, it was discovered that at the press conference, Li Shufu who sat on the stage did not speak too much. He gave most of the time to Stephen Jacobs. The media commented on this: For this foreigner from Sweden, Li Shufu gave his face.
On this day, August 4th, 2010, Geely completed the acquisition of the entire equity interest in Volvo. At this point, the world's third-ranked safety technology world ranked first, with more than 80 years of history of the luxury car brand, was only bought by China Geely Automobile with a history of only 13 years. People liken this M&A image to “transnational marriageâ€. One party is a rural youth from the East, and the other is a Nordic princess. The disparity in the status of both parties is doomed to hardships.
When Sandermer, a senior engineer of Volvo, learned that Volvo would be sold to Geely, the head of the union of engineers was the first to take the lead and strongly opposed. His reason was simple: Geely from the East did not understand Volvo culture at all. . Volgo's senior engineer Magnus Sandmer said in an interview that the famous car brands in the West are often imitated by Chinese companies. In their culture, it is important to maintain their uniqueness. In order to prevent Geely from acquiring Volvo, the Engineers Association of Magnus Sandermer even united with a Swedish consortium to make a half-way attempt to compete for Volvo, but they were unable to raise enough funds. Therefore, it cannot compete with Geely. Although Geely had hoped to buy Volvo at the time, the union’s position was not to welcome the Chinese. The Volvo Car Engineers’ Union, consisting of 1800 engineers, still hoped that the company would be led by the Europeans because they knew more about Volvo culture. So what exactly are the cultures they emphasize? The answer we got in the interview was: Culture is a way of life, culture has its own journey, and it starts with people and ends with people.
Shen Hui, senior vice president of Volvo Cars Worldwide, said that culture can be compared to a lotus flower. Below the surface of the water is culture, which cannot be seen, but it will affect various behaviors on the water. The concept of culture has always been widely discussed. According to the statistics of the American culturists Krober and Clarkehon in 1952, scholars around the world have defined more than 160 kinds of culture. The famous Dutch scholar Hofstadter suggested that culture is not an individual feature but a psychological program shared by groups with the same education and life experience.
Seven years ago, Lenovo acquired the personal computer business of the industry's originator and blue giant IBM in the form of snakes and elephants. Yang Yuanqing, the chairman of the company, moved his family to the United States. From the time he got off the plane, he felt two kinds of things. The great difference brought about by culture. Yang Yuanqing was out of the airport at the time, looking for a long time, even a person who received a card to pick him, he had to call each other. In order to resolve this cultural difference, in the following two years, Lenovo China has set up a reception organization exclusively in the United States, which is responsible for all the reception of Chinese senior executives in the United States. The huge differences in culture are gradually reflected in every detail of daily work. Luo Ruide, chief operating officer of Lenovo Group, told reporters that at the beginning of the meeting, U.S. colleagues would speak loudly and be very active; while Chinese colleagues appeared to be conservative and quiet listeners.
In the eyes of Volvo employees, there was also such a difference between Ford Motor Company, the former purchaser, and Volvo. Even though they are on the banks of the Atlantic Ocean (12.36, 0.03, 0.24%), the cultural gap is always insurmountable. Magnus Sandmer said that the most negative aspect of U.S. corporate culture is tight control. Swedish culture emphasizes practice. It should not be step by step, because the company relies on employees. Professor Du Shangzhe of the HEC School of Business in Paris told us that when it comes to acquiring a company with a completely different background and language, it not only has a national culture but also a corporate culture, which makes it more difficult.
Liu Chuanzhi, chairman of the Lenovo Group's Board of Directors, said that what has been the most fundamental issue in the culture today? People from different regions of China and the West, people from different companies, and different backgrounds can work together. “Variety is different in a country and rules are changed ten years.†In fact, cultural differences exist everywhere. An inadvertent move may lead to a misunderstanding. Ordinary words may even trigger a conflict. The integration of culture is a hurdle for any company that has undergone cross-border mergers and acquisitions.
On October 28, 2009, Li Shufu ushered in a cultural examination. On this day, when Ford announced that Geely had become Volvo's preferred bidder, Li Shufu, together with Ford executives, flew to the Volvo Gent factory in Belgium to conduct a dialogue with the trade union representatives there. Geely Automobile CEO Li Shufu said that if the trade unions have too much advice, mergers and acquisitions will be difficult to achieve. What Li Shufu worried about is that the Western Union is different from China. They can negotiate with employers, can adjust the company’s adjustment of products, can strike, and even say “NO†to potential new owners. A conference room at the Ghent factory was the "examination room" at the time. Six leaders from different unions in the Ghent factory are the “examiners†of the day.
Philip Mortier is one of the "examiners" of the day. Philip Mortier said that Mr. Li Shufu was sitting here with his colleagues, next to the translator. He asked the candidate “Li Shufu†a question: Please use three words to explain why Geely is the most suitable company to bid for Volvo? Li Shufu said, "I love you, I love you. This is Volvo." Li Shufu is not proficient in English, even with the English flavor of Zhejiang, "I love you." Then the party laughed and everyone laughed. From then on, the parties involved in the meeting really relaxed and the meeting really began.
In cross-border mergers and acquisitions, 70% of mergers and acquisitions did not achieve the desired commercial value, and 70% of them failed to integrate after mergers and acquisitions. The higher the cultural difference is, the higher the probability of failure is. This rule is summed up as "the Law of July 7th." ". In 1998, Daimler-Benz, Europe’s largest industrial company, and Chrysler, the third-largest automobile manufacturer in the United States, carried out the largest merger and acquisition case in the history of the world’s automobile industry, bringing endless restrictions to people.
Former Daimler-Benz CEO Jørgen Spump considered the merger as the largest auto industry merger in history and agreed to make DaimlerChrysler the most competitive giant in the automotive industry. But this coalition, known as a natural match, was eventually defined as the most failed merger. The media commented on them as such: Corporate culture is the key point. In mergers and acquisitions, this cannot be done. Others are excused.
The difference in culture is the cause of the huge differences in business philosophy and thinking between the two parties. Chrysler, which values ​​the interests of shareholders, likes to introduce cheap and practical new products as quickly as possible, but German companies that attach importance to stakeholders have attached great importance to quality. It often delays the advent of new products. Soon, Chrysler experienced market miscalculations and soaring manufacturing costs. Less than two years in the merger, Chrysler did not benefit from the merger, but in the United States market share fell below 14% for the first time since the 1990s. In the second half of 2000, Chrysler suffered a huge loss of 1.8 billion U.S. dollars.
Jeffery Krueger, Dean of the School of Management at Loyola University in the United States, said that the US executives have wages equal to three to four times the German staff, mainly because the United States gives stocks and options in addition to wages. The compensation is very high. Different compensation systems have caused dissatisfaction among many Germans within the company. The Americans also have a lot of bad feelings. At the same time, the Germans are good at enjoying public funds and go abroad to meet in first class and live in high-class hotels. Moreover, the German Wenshan Huihai and Red Tape have made the Americans feel difficult to understand. Just two years after the merger, Las Vegas billionaire and DaimlerChrysler’s third-largest shareholder, Kirk Kerkorian, filed a lawsuit claiming 8 billion U.S. dollars against Daimler’s president. In 1998, the promise of implementing a "merger between equals" was "spreading big lies." Nine years later, this "super marriage" came to an end. "It's easy to get in, and it's hard to keep up" is a problem that every company must face when it comes to international mergers and acquisitions. The strength of capital, in the end, can not make up for the cultural cracks.
On the outskirts of Gothenburg, Sweden, 75-year-old Thomas drove his Volvo car almost 80 years almost every day. He walked through country roads. In the hearts of him and many Swedes, Volvo was always proud and he had a Hard to give up feelings. The Swedish public said in an interview that Volvo is a tradition for Swedish families, that is, there will be a Volvo at a certain age, which represents safety. The 80-year-old Volvo is a representative of car safety and has a strict trade union organization. This national industrial brand is known as the national treasure of the Swedes. This is a key part of Volvo culture, and its hidden cultural value is far more than this. Geely, the young Chinese private enterprise, how to manage Volvo?
Geely CEO Li Shufu said that Geely is Geely and Volvo is Volvo. Geely does not produce Volvo, Volvo does not produce Geely, Geely and Volvo are brothers, not a father-son relationship. "This is a brotherly relationship, not a father-son relationship." This view has surprised many people. In their understanding of corporate mergers and acquisitions, cooperation with brothers is rare. Why did Li Shufu do this? Li Shufu said that he believes that the progress of human civilization is a subtle process, not a forced one that is forced. If we say that everyone is a compulsive fusion, the effect will be exactly the opposite. Not only will it not achieve positive results, but it will create a negative shadow. Therefore, on this issue, Geely adopts a very simple method that does not consider or even rush to study the issue of cultural integration.
No matter what kind of conjecture people have, the idea of ​​“reserving the Warrior†has largely eliminated the concerns of the Volvo people. Even Sandme, who once used to sing a negative tone, applauded.
Stephen Jacobs, president and CEO of Volvo Car Corporation, the CEO who had been ridiculed by Chinese Internet users, in his eyes, the culture of Geely and Volvo is like the Chinese food's chopsticks met with Western food knife and fork, each has its own The characteristics of each have their own wisdom, and independence is the best choice after mergers and acquisitions.
According to the research findings of McKinsey, the world's most famous management consulting company, in 2010, in order to reduce risks, more and more Asian companies will not be immediately integrated after the merger. In 2009 alone, more than 1900 transactions with a value of US$145 billion in mergers and acquisitions adopted this approach. Short-term avoidance can reduce risk, but is avoidance a long-term solution?
Jack Welch, known as the world's number one "CEO," has been in the grip of General Electric in the past 20 years, GE completed a total of 993 mergers, the market value has climbed from $ 13 billion to the highest $ 560 billion. Before each M&A, his priority is whether the culture of the two companies can be integrated. Welch said that he is trying to make good use of both cultures, but he also needs to ensure that he can adapt to each other in financial and human resources systems. If the cultural differences between the two companies are too great, Jack Welch's answer is to throw away quickly. Welch said that each company has its own style. Perhaps Chinese companies do not think there is enough talent to maintain Volvo's brand, so they decided to let Volvo do it, but at the same time they would miss the technology integration and missed the financial of the two companies. The benefits of integration and missed opportunities for talent development.
Every two weeks, new employees come to Lenovo's headquarters in the United States and accept Lenovo's first lesson here. Today, every branch of Lenovo's global offices can see employees of different colors and people from different countries everywhere. That year, facing the strong corporate culture of both Lenovo and IBM, as well as the cultural differences between China and the United States, Liu Chuanzhi firmly chose the path of cultural integration. However, in 2008, Lenovo suffered a huge loss. In this regard, Liu Chuanzhi interpreted it this way. The financial crisis itself is a fuse rather than a real gunpowder library. In fact, the problem of management, the collision in culture has really become a gunpowder library.
Afterwards, Liu Chuanzhi returned to the mountains. The first thing that directly intervenes is the construction of corporate culture. At the first stop of a flight to Europe, a conversation with a European executive made him breathless. Liu Chuanzhi said that in the past when the CEO said that everyone agreed, it was respect for the CEO. Why is it that companies are preoccupied with such cultures that "can't say it's not done?"
Today, after seven years of scrutiny, Lenovo has combined the core values ​​of foreign culture with Lenovo to form a more open “new association cultureâ€. The core is: to do it and to do its utmost.
Luo Ruide, chief operating officer of Lenovo Group, the American who worked in IBM for 23 years and worked in Lenovo for 10 years, Westerners and Orientals, the same point is always greater than the difference between them. Lloyd said that no matter if you come from the East or the West, you don’t feel any different. Everyone comes from the same planet and wants to work for important companies. They all want recognition and respect.
Geely, born from a poor boy, gave foreign princesses full freedom after marriage. Is this a short-term act or a long-term choice? Can they love each other and grow old? Now we still don't know. However, Eastern culture has quietly influenced the Volvo people under the "Warlord War". At this year's Shanghai Auto Show, a world premiere of Volvo's "Heaven and Earth" concept car, in the eyes of chief designer Peter Hobly, is the first fusion of Volvo Car's Scandinavian design style and Chinese culture. . Peter Holbury, vice president of Volvo Car Corporation, said that this is a typical Scandinavian model, Swedish model of the car, simple, simple design, without too much decoration. But the car itself is very large, especially at the rear, which is in line with Chinese culture, that is, the back seat is as important as the front seat, and even more important.
In cross-border mergers and acquisitions, cultural conflicts are the major problems faced by the integration, whether it is integration or independence. Enterprises have their own choices and considerations, but in any case, this will be a dangerous route full of thorns. For cultural differences, in addition to communication and understanding, it is more important to prepare for everything before preparing for a merger.
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