摘要:当代企业在面对兼并与重组中的问题时，将注意力更多的放在外部显像的资产整合、债务重组、人员分配等问题，对于企业文化这种隐性的内部问题投注的注意力却比较少。在并购过程中，不同的企业存在的文化差异会产生文化冲突，并有很大几率导致企业并购后不能实现期望价值。

　　　本论文对兼并与重组后的企业文化进行研究，探究其重要性、存在的问题及解决方案，对实现企业文化的融合与创新，提高企业重组成功率，顺利实现企业并购价值有重要的指导意义。论文采取理论与实际相结合的论证方法，论据立足于真实案例，清晰的说明了企业文化融合是决定企业兼并成败的重要因素。同时以联想集团收购IBM个人电脑事业部的案例为基础，分析了联想集团在收购IBM过程中的企业文化的融合与创新，说明了重视企业文化，整合企业文化，根据新的环境创造新的企业文化，是企业兼并得以成功的必要手段。

关键词：兼并 重组 企业文化 融合 创新

ABSTRACT:　　Contemporary enterprises focus heavily on elements such as asset integration, debt reconstruction and workforce relocating when dealing with problems in company mergers and regroupings. Little attention have been paid to the company's internal issues and the lurking variables, especially enterprise culture. In the process of merging and acquisitions different enterprise cultures may well lead to conflicts between the participating parties, and furthermore become obstruction in company's  pursuit of its expected post-merger values. 

This paper discusses enterprise cultures in merges and regroupings, and emphasizes on its importance, possible problems and solutions. The issues discussed have significant meanings to achieving a company's expected values. To clearly demonstrate this, this paper combines both theories and practical analysis based on real cases. The paper uses the case of the acquisition of IBM from Lenovo, and analyzes the process of cultural blending and innovation in this particular acquisition example. The conclusion is that in order to success in mergers, it is necessary for enterprises to not only weigh heavily on cultures, but also integrate them, and create new ones when needed.

Keywords：Merger and Acquisition; regrouping Corporate Culture; blending; Innovation

　　　本论文主要采取案例分析的方法，在对国内外并购真实案例进行充分解读的基础上，对并购后企业的发展现状做了科学的分析和研究，从文化整合的必要性出发，论证了企业文化整合是决定并购成败的决定性因素。论述在企业文化在兼并过程中可能会遇到的问题和存在的困难，阐述在企业的兼并与重组中企业文化的融合应该如何具体操作，指出在兼并中针对企业文化的融合所必备的几个主要条件，并通过联想集团收购IBM的具体案例，分析其兼并背景与文化整合方法，说明企业文化融合对于企业并购重组的成败有决定性的作用。