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지식자산 확보전략으로서의 인수 후 개발(Acquisition and Development)전략의 성공요인에 대한 탐색:시스코(Cisco Systems)의 사례를 중심으로

An Exploratory Study on the Factors Influencing Successful A&D(Acquisition and Development) Strategy Implementation: The Case of Cisco Systems

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초록

본 연구는 지속적인 인수 후 개발(acquisition and development) 전략을통해 꾸준히 자사의 지식영역을 확장하고 시장지배력을 강화해온 시스코의 사례분석을 통해 급격한 기술적 혁신이 일어나고 기술적 복잡성이 높은 하이테크 산업에서 성공적인 A&D 전략의 실행을 가능케 하는 제반 요인들을 분석해내고자 하는 데 그 목적이 있다. 분석 결과, 첫째, 시스코는 인수합병만을 전담하는 조직과 이를 책임지는 고위경영진의 임명을 통해 인수합병의 전 과정에서의 최고경영진의 몰입도를 높이고자 하였다. 둘째, 인수합병 발표 전부터 지속적으로 피인수기업의 경영층과 상호작용을 함으로써 피인수기업 구성원들이 지닐 수 있는 미래에 대한 불확실성을 최소화하기 위해 노력했다. 셋째, 인수대상 기업의 선정과정에서 문화적 유사성이나비전의 공유와 같은 사회적 측면을 중시함으로써 인수 후 통합과정에서 발생할 수도 있는 문화적 충돌을 미연에 방지하고자 했다. 넷째, 신속한 인수 후 통합과정의 집행을 통해 인수 후 조직의 안정성을 유도하였다. 마지막으로, 인수합병의 전과정을 공식화함으로써 수많은 인수합병을 통한 경험을 조직수준의 지식으로 전환할 수 있었던 것으로 나타났다.

Abstract

Focusing on Cisco Systems’s case , this study demonstrates the successful drivers of A&D (acquisition and development) strategy implementation. The case analysis reveals that Cisco System’s success is due to the factors such as foundation of M&A unit, continuous interaction with target firms’ managers, effective target identification, prompt PMI process in action, and formalization of acquisition process.

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