ABSTRACT

This paper aims to test the ARCTIC framework to assess the prerequisites of competence-based synergy in the acquisition process. To reach this aim, the following research question has been considered: How should core competences be evaluated as sources of synergy in an acquisition? In answering the question, the author researched the latest theoretical findings on the antecedents of synergy in the merger and acquisition process. Based on an in-depth literature review, an ARCTIC framework was developed and tested. The author selected three case studies to test the methodology empirically, namely, the recent Microsoft acquisition of LinkedIn completed at the end of 2016, L’Oréal’s Body Shop acquisition in 2006 and divestiture in 2017, and the recent acquisition of The Body Shop by Natura Cosméticos. The research identified three steps for exploring whether core competence transfer in an acquisition process is an important source of synergy.

摘要

本文旨在测试 ARCTIC 框架，以评估采购过程中基于能力的协同作用的先决条件。为了达到这个目标，考虑了以下研究问题：如何评估核心竞争力作为收购中协同作用的来源？在回答这个问题时，作者研究了并购过程中协同作用前因的最新理论成果。基于深入的文献回顾，开发并测试了 ARCTIC 框架。作者选择了三个案例来实证检验该方法，即最近微软于 2016 年底完成的对 LinkedIn 的收购，欧莱雅于 2006 年收购并于 2017 年剥离的 Body Shop，以及最近由 Natura 收购 The Body Shop化妆品。该研究确定了三个步骤来探索收购过程中的核心能力转移是否是协同作用的重要来源。