This post presents a basic primer on how to develop an M&A strategy for your company.  If your company is interested in leveraging mergers, acquisitions, or divestitures you should have a basic strategy that has been documented and reviewed/approved by key stakeholders such as the executive team, board of directors, key investors, and debt holders.  The presentation lays out a simple seven step process that be typically be completed in a couple of weeks.  It also includes a few examples of various deliverables that could be helpful in your efforts.

M&A strategy is highly dependent on your company’s overall business strategy.  In fact, it is practically impossible to develop an M&A strategy unless a basic 3 to 5 year strategic business plan is in place.  Good M&A strategies are extensions of your business strategy – M&A is simply one tool that can be used to achieve your overall business objectives.  You should do a comprehensive update of your M&A strategy in conjunction with your annual business and budget planning.  The strategy and your progress against it should be reviewed each quarter as a part of your normal quarterly business review process.

There have been thousands of books and blogs written about M&A.  This presentation does not hold itself out to be the definitive work on the topic.  Instead, the presentation provides a basic overview of the topics and analytical techniques you should use to build and maintain your M&A strategy.

原文出处：第一财经网：http://www.yicai.com/news/2010/04/339322.html

中国最容易被人反复提起的是“劳动力价格”的比较优势，但最容易被人忽略的是“国家宏观管理成本”的比较劣势，笔者认为，正是这个比较劣势造成了中国的畸形物价。

在全球金融危机之后，地球上令人困惑的事越来越多。

今年2 月，知名经济学家左晓蕾女士写了一篇文章，题目叫《中国和泰国物价之比让人困惑》，说春节去泰国，发现所有的价格都比中国同类消费品便宜。中国一般消费品价格，与人均GDP超过中国37%的泰国相比，平均高出30%~40%.

同样的问题也发生在法国商品价格上。她比较了某一法国制造的服装价格与进口的同一服装价格，按欧元与人民币11：1计，中国国内价格几乎高出在法国的价格一倍。她在美国也有过这样的经历，比如加州机场商店的美制风衣，按照1：8的兑换率，风衣价格连进口价格的五分之二都不到。若按1：6.8的兑换率，价差更大。如果与国内机场内的同类进口商品价格相比较，差价更为离谱。而法国人的人均GDP高出中国10倍还多，美国的人均GDP超过中国15倍。

“这实在不符合国际贸易的理论和实践，也不符合发展经济学的理论和实践，需要重新认识和诠释世界经济发展的规律，如此，世界经济和中国经济的平衡发展才能有希望。”

左女士提出了问题，但是没有给出答案。而这个问题迫切需要答案，不然我们就会丧失一次抓住中国真问题的契机。

这个调查和社会大众的感受是吻合的，所以国内出现了不少“代购”一族，专门到海外买便宜货。而人力资源服务机构ECA在2009年6月的调查也可以加以印证——继日本东京等四个城市之后，北京、上海、香港成为亚洲生活消费最为昂贵的城市。京、沪、港三市分别从上年度的全球104、111和98位，飙升至26、28和29位。在被调查的亚洲城市中，前十名中国城市占了半壁江山——北京、上海、香港、深圳、广州。此外，天津等10个城市也排进了前30名。

» Read more: 中国物价为何比美国、泰国高