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1、The IHRM analysis of Shandong Ruyi Group to acquire Renown IncorporatedExecutive SummaryThis essay concentrated on the international human resource management (IHRM) practices in the case of Shandong Ruyi Group to acquire Renown Incorporated. The acquisition was divided into four phases and in each
2、phase the specific IHRM-related activities were analyzed critically. Then some suggestions about IHRM were made for the two companies to manage the acquisition process more effective, and that other multinational enterprises (MNEs) may absorb the experience to make their cross-border mergers and acq
3、uisitions (M&As) successfully.Content1. Introduction32. Acquisition Background and Process33. Pre-M&A Phase43.1 Building up an Integration Team43.2 Assessing HR53.3 Planning for due diligence54. Due Diligence Phase64.1 The Quality of Core HR64.2 HR Cost64.3 Management Mode74.4 Corporate culture75. I
4、ntegration Planning Phase75.1 The Integration of Organization Structure75.2 The Integration of Recruitment Procedure95.3 The Integration of Compensation System95.4 The Integration of Corporate Culture96. Implementation and Assessment Phase106.1 Deciding Appropriate Expatriates106.2 Establishing Effe
5、ctive Communication Mechanism106.3 Retaining core employees106.4 Training and Developing HR117. Conclusion11Reference121. IntroductionCross-border M&As are the important issues for many enterprises to broaden their business over the world. However, many M&As were failed because of poor performance i
6、n IHRM. So there is of great necessary for those companies to place much emphasis upon the IHRM issues in M&As.2. Acquisition Background and ProcessRenown is a well-known Japanese clothing brand which has a history of more than 100 years. But in the past 10 years, its operating condition became dete
7、riorative due to the economic downturn of Japan. Under huge loss in finance, in May, 2010, Renown signed up an acquisition agreement with Shandong Ruyi Group, the biggest textile enterprise in China, and transferred 41% equity to Ruyi (Nakajima, 2010).The process of the acquisition was divided into
8、four phases, including pre-M&A phase, due diligence phase, integration planning phase and implementation phase (Dowling, Festing, & Engle, 2013, p. 87). Pre-M&A phase is a series of assessment and preparation of the acquisition. The acquirer should build up an integration team to undertake the acqui
9、sition project. This phase began at the end of 2009, when Ruyi initially considered acquiring Renown. In this stage, Ruyi built up an integration team, analyzed its business strategy and its objectives of the acquisition, and made some preparation for the next phase.The second phase is due diligence
10、 phase. This phase is to make a deep survey about the acquired company, in order to assess the potential benefits of the acquisition. For HRM, this assessment would provide HRM-related information to making the acquisition decisions and find out the issues that may affect the acquisition cost.The th
11、ird phase is integration planning phase. The integration plan is to plan when and how to make the acquisition in detail. The acquirer should consider the investigation result in the due diligence phase, and then makes a detailed and practical plan to integrate the HR of the acquired party, based on
12、its development strategies. (Wei, 2014, p. 20). Before signing up the acquisition agreement, Ruyi made a detailed integration plan to ensure the acquisition implement successfully.The final phase is implement phase, in which the integration plan would be implemented in practice. In this phase, many
13、issues may come out about HRM, such as cultural difference, difficult communication and loss in core employees. The acquirer should take some measures to avoid these issues. The two companies began the acquisition in May, 2010, when Renown signed up the acquisition agreement with Ruyi. The acquisiti
14、on was completed in January, 2011, when Renown rebuilt its board of directors and integrated its company (Chinese boss is coming, 2011).3. Pre-M&A Phase3.1 Building up an Integration TeamBuilding up an integration team is an effective way to lead the acquisition project and make integration plan (Li
15、u, 2005, p. 20). At the beginning of the acquisition, Ruyi had cooperated with a management consulting company, Hejun, to build up an integration team. The team members not only come from Hejun, but also come from Ruyi and Renown. The managers from Ruyi and Renown provided company information and th
16、eir development strategies to Hejun, and Hejun helped them to make the integration plan. This team helped the two companies to communicate with each other and led the acquisition project to proceed successfully.3.2 Assessing HR Before researching the acquired enterprise, the acquirer should at first make a comprehensive analysis
