CAJ | 학술논문

基于企业成长理论的视角分析蒙牛收购雅士利的动因显示：蒙牛收购雅士利是一次双赢的收购案。并购作为企业重要且普遍的成长方式之一，是其实现成长和战略发展的一种外部途径，可有效解决企业存在的问题，发挥企业家精神，实现纵向一体化下的协同作用。目前，蒙牛在发展自身奶粉品牌上存在短板，同时面临着管理和需求上的约束，而雅士利也面临着管理和竞争的瓶颈，遏制了向行业的进军。蒙牛对雅士利兼并重组后，应加快资源整合与互补，实施多元化经营战略，真正培育起自己的品牌，加快国产奶粉行业整体升级的速度。
기우기업성장이론적시각분석몽우수구아사리적동인현시：몽우수구아사리시일차쌍영적수구안。병구작위기업중요차보편적성장방식지일，시기실현성장화전략발전적일충외부도경，가유효해결기업존재적문제，발휘기업가정신，실현종향일체화하적협동작용。목전，몽우재발전자신내분품패상존재단판，동시면림착관리화수구상적약속，이아사리야면림착관리화경쟁적병경，알제료향행업적진군。몽우대아사리겸병중조후，응가쾌자원정합여호보，실시다원화경영전략，진정배육기자기적품패，가쾌국산내분행업정체승급적속도。
The motivation of the acquisition of Yashili by Mengniu Diary is analyzed based on the perspective of enterprise growth theory, which proves that it is a case with win-win resnlts. As a key and popular development approach for enterprises, M&A is the external ap-proach for the strategic development of enterprises, efficient in solving problems, inspiring entrepreneurship, and realizing vertical inte-gration. Mengniu group now has short slabs in developing its milk powder brand and faces constraint of management and demand;Yashili also encounters a bottleneck of management and competition, curbing its growth. After the merger and reorganization, Mengniu should ac-celerate the resource integration and undertake diversified operation strategies, so as to build its own brands and speed up the upgrade of the overall milk powder industry.