However, Cai Siqiang is in charge of company operations and has completely positioned himself as a company management. Therefore, in addition to the actual management of the company, he has also seized time to recharge. Although he has not read any MBA seriously, he has never stopped learning theoretical and practical case analysis related to company management.

Without anyone urged him, Cai Siqiang raced against time to study by himself. When he met a famous manager, he could squeeze out time to listen carefully. Strangely, since he took charge of SAL, Cai Siqiang, a well-known playboy in the school during his student days, had no time to chat with various mms on QQ.

It can be seen that the whole face of those who pursue it is different.

Therefore, Cai Siqiang's understanding of international mergers and acquisitions is really a huge difference compared to Zhao Jianwu. Mergers and acquisitions are definitely not a simple question of money, although money is indeed a very important question.

Zhao Jianwu simply calculated the capital needs for acquiring Tomtom Company and thought that there would be no problem if there was enough money. This idea was indeed too simple.

To acquire an international enterprise, money is a problem, management is a problem, legal is also a problem, corporate culture conflicts and integration are a problem, and there are also great problems for some corporate mergers and acquisitions with large impacts, even political aspects. Therefore, from an international perspective, cross-border mergers and acquisitions have always been a high-risk area.

The overseas mergers and acquisitions of Chinese companies that are even more inexperienced have ended in failure: China Aluminum acquired Rio Tinto because of political issues; Ping An invested in Fortis, suffered heavy operating losses; TCL acquired Thomson, suffered heavy business losses; SAIC acquired South Korea Shuanglong Auto, which had a precarious operating conditions, and failed to go bankrupt; CNOOC acquired Unicorn, which failed...

Even Lenovo's acquisition of ibmpc business in 2005, which was known as a successful case, was a substantial failure due to business integration, because Lenovo did not successfully open up the long-awaited American market with the ibm brand.

Thinking of these failure examples, Cai Siqiang does not think that he is smarter than the bosses of the above-mentioned companies and can easily avoid these risks in all aspects.

"Brother Wu, you think too simple. The risk of acquiring a company of a size like Tomtom is too great." Cai Siqiang looked at Zhao Jianwu's eager eyes and said with some amusement. "This is not just a matter of money. Can the local government approve it, will the company's trade union oppose it, how to manage it after the acquisition, whether the company's business can continue... and so on, there are still many questions."

Each of these problems is improperly handled, which may cause huge losses. Therefore, Cai Siqiang does not agree with the idea of ​​international mergers and acquisitions. The company's current development momentum is already very good. In terms of navigation instrument production, Dangdang's acquisition of a domestic company for transformation can be carried out very steadily, so it is not as big as it is, resulting in the risk of bankruptcy.

"Brother Wu, do you know? The boss of Gree once said that TCL's acquisition of Thomson is a disaster! TCL has been in the TV industry for so long and can't handle a European TV company. It's been more than ten years since it's still struggling with this acquisition. It shows how difficult it is for international mergers and acquisitions."

Cai Siqiang persuaded with great sincerity.

Acquisition of a large-scale enterprise is not an easy task. What's more, this is a cross-border merger and acquisition, which is indeed far beyond Cai Siqiang's current ability.

The Lenovo internationalization case that Cai Siqiang has studied in depth is more like Lenovo taking over the burden of ibm. Although he relies on this business to enter the world's top 500 with his long-awaited business, it is just a false reputation. The serious American PC market has been coveted for a long time, and Lenovo products are still difficult to become mainstream.

Although the sales revenue scale is up and down on the so-called Fortune 500 in the world, the company's profits have been hovering on the brink of profit and loss. Therefore, although the senior executives of Lenovo have always claimed that the merger and acquisition are very successful, they really cannot find any highlights of success in terms of results.

Of course, Cai Siqiang is not like this. According to his current business philosophy, he tends to make steady progress and appropriately control the development speed. Especially for investment businesses that spend a lot of money, they will never be able to do so. Cai Siqiang does not have the urgency of Duke. Moreover, if you look at it horizontally, the current development speed of SAL can be described as Rockets.

The safest solution now is to acquire a domestic navigation device manufacturer with considerable production capacity. The total investment will not be too large. Even the top domestic navigation device manufacturers should spend hundreds of millions of yuan to handle it. This will have little impact on the company in terms of funds. Even if it fails, it will be within the control range of the company.

However, if the MOU rashly launches a large international merger and acquisition such as Tomtom, and uses dozens of or tens of billions of large funds, a lot of bridge loans are needed in the middle, the risk is too great. Once there is a slight upside and the market is not well setbacked, it will be uncontrollable.

When making clothes, you must tailor your clothes, and when you are a person, you must try your best to do things within your ability. People like Cai Siqiang, who came from a business family, have been instilled with the principle of being down-to-earth since childhood. Therefore, although the Cai family has not become famous for so many years, it still develops steadily and is getting stronger every year.

And many powerful big companies suddenly rose like comets and soon fell down like an avalanche. Mou Zhong, Delong... These "glorious defeats" are so numerous that ten books may not be finished.

Putting aside these long-standing legends, just say that Dukemao rashly took over Lingfeng Factory this time. If we only look at the current strength of Mi Company, Cai Siqiang thinks this is a typical risky behavior with big eyes and small belly. Just relying on Mi, Cai Siqiang probably would be a big deal even if he was not supported to death in the end.

Fortunately, Duke not only has Mi. When Mi can't hold on, there is also Sal. Compared with the current scale of Sal, the total investment cost of Lingfeng Factory is not particularly high. Even if it fails, it will not cause Sal to be damaged.

But if you really acquire this tomtom, it would be completely different. Not only is the total cost far, but Cai Siqiang also doesn’t think that the sal company has made relevant preparations after corporate culture, management, etc. More importantly, since tomtom is already in decline, then after buying this company, it may become a burden for sal.
Chapter completed!