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Corporate restructuring
Editor:admin  Date:2014-08-18  Browse:11109 Text Size Print

Corporate restructuring, the enterprise funds, assets, labor, technology, management and other elements to be reconfigured to build new production business model, to enable enterprises to maintain a competitive advantage in the change process. Corporate restructuring throughout every stage of business development. Corporate restructuring for business property relations and other debts, assets, management structure expanded corporate restructuring, consolidation and integration process, in order to improve business management and strategic situation from the whole, and strengthen competitiveness in the market promote business innovation. 
Restructuring Overview 
Definition 
Broad corporate restructuring, including corporate ownership, assets, liabilities, regroup and staffing, business and other factors. 
Narrow corporate restructuring is an enterprise with the goal of increasing the value of capital, the use of asset restructuring, debt restructuring and equity restructuring, optimizing enterprise asset structure, debt structure and equity structure in order to make full use of existing resources to achieve optimal allocation of resources. 
Enterprise is an organic combination of various factors of production. Business function is to carry out the wide variety of the best combination of factors of production, optimize resource allocation and utilization. In a market economy, the market demand and factors of production companies are constantly changing, especially in science and technology advances, an increasingly globalized economy, in the case intensified market competition, changes in business survival tends to speed up the internal and external environment, enterprises should such changes in the environment to maintain a competitive advantage, we must continue to be competitive in time and then a combination of elements, elements of corporate restructuring is a means of re-combinations. Competition in the market for long-term development of the company's most significant is built on the basis of the core competitiveness of sustainable competitive advantage. Competitive advantage is the fundamental guarantee profitability, without even the basic competitive enterprises are not guaranteed to survive, let alone development. So, through the internal regrouping of various production and business activities and management of the organization as well as through a variety of resources and expertise from outside the enterprise access to business development needs, nurture and develop the core competitiveness of enterprises, is the ultimate goal of corporate restructuring. 
The purpose of the reorganization 
1 to raise funds and seek future development 
2. improve management efficiency, reduce operating costs 
3 acquisitions, mergers business, determine the status of the industry 
4 Extended marketing network, increase market share 
5 spin-off business listing 
6 full advantage of future tax benefits 
7 to achieve the best allocation of resources 
8 synergy 
Reorganization proceedings 
. Different options set 
2 define property rights 
3 appraisal business, operational processes 
4 resolution 
5 program implementation 
6 assess the ultimate effectiveness 
Follow the principle of restructuring 
Corporate restructuring, while in the following four principles should be followed in order to ensure the legitimacy of the enterprise, rationality, operability, comprehensiveness, it is a good all-round development of enterprises. 
1 principle of legality 
In relation to intellectual property ownership, use rights, management rights, mortgage, pledge rights and other property rights, patents, trademarks, copyrights, invention and discovery rights, other rights and other scientific and technological achievements, as well as buying and selling, leasing, contract, loan, transportation the establishment of the commission, employment, technology, insurance and other claims, changes and termination, there is no doubt that the only legitimate, can be legally protected in order to avoid numerous from the national, sectoral, local, and other people's legal risk. 
2 rationality principle 
In the combination of elements of the various assets, personnel and other benefits of the process is always the first one. Secondly, it is reasonable premise - stability. To the benefit on the basis of only the steady convergence. It is reasonable to operate again - good faith. Only good faith to fulfill the merger agreement, shareholders and employees to make various combinations of re-establishing confidence in the new environment. 
3 operability principles 
All the steps and procedures should be in operation under the existing conditions, or the conditions required to operate within a certain period of time can create, insurmountable legal and factual obstacles do not exist. 
4. principle of comprehensiveness 
To effectively deal with the relationship between the nine Chinese companies - the party, government, group, human, financial, material, production, supply, marketing, in order not to leave sequelae, otherwise no end of trouble. [1] 
Restructuring Mode 
Corporate restructuring usually have a business restructuring, asset restructuring, debt restructuring, equity restructuring, personnel reorganization, restructuring and other management system model. 
(1) Business restructuring: refers to the reorganized company's business is divided into to decide which part of the business 
Corporate restructuring 
Corporate restructuring 
The listing of the company's business conduct which is the basis of corporate restructuring, is a prerequisite for its reorganization. Operating division focused on the reorganization of business and non-business business profitable business and non-profit business's main business and non-core business, and the operating business and profitable business into the listed company's business, operating business and divest non-profit business. 
(2) asset restructuring: refers to the reorganization of assets within a certain range of enterprises to analyze and optimize the combination of activities to integrate its core corporate restructuring. 
(3) Debt restructuring: the debt restructuring is an enterprise of the debtor's liabilities by shifting the burden of debt and liabilities converted into equity restructuring and other forms of behavior 
(4) equity restructuring: refers to the behavior of corporate equity adjustments correlate it with other restructuring, even simultaneously, such as debt when the debt restructuring. 
(5) staff restructuring is through downsizing to improve efficiency and optimize labor portfolio, improve labor productivity behavior. 
(6) management system restructuring refers to the revised management system, improve enterprise management system, in order to adapt to the modern enterprise system behavior. 
Restructuring implemented ideas 
Analysis of internal and external business environment 
The company designs industrial restructuring 
Design company reorganization 
Restructuring process 
Corporate restructuring processes (BRP) 
(A) The main scope of the reorganization process 
The functional process reengineering: the functional processes of internal reorganization. Under the old system, the various functional departments 
Corporate restructuring 
Corporate restructuring 
Agencies overlap, intermediate level and more, and these middle management typically perform only some non-value-added statistics, summary, guidance, etc., ERP systems can be replaced. BPR is to cancel middle management, so that each function from start to finish only a functional organization to manage, so that agencies do not overlap, the business is not repeated. 
Between BPR function: to break the boundaries within the enterprise sector, conducted across multiple functional departments border business process reengineering, implementation of process management team. Process to combine the departments staff team together, so much of the work can be processed in parallel, which can significantly reduce the work cycle. This organizational structure flexible, adaptable. 
BPR enterprises: is the place between two or more corporate restructuring of the entire supply chain to achieve effective management, shortening the production cycle, ordering cycle and sales cycle, simplifying workflow, reducing the cost of non-proliferation. Such BPR is the highest level of business process reengineering, the ultimate goal is the reorganization. 
(B) the corporate restructuring process in three stages 
(1) The first is the initial phase of the project. At this connotation and significance should clear the project, and the composition of the project team. The results of operations and business processes need to be improved, such as to improve profitability, reduce costs, such as a direct link, so that companies recognize the improvement process 
Corporate restructuring 
Significance. A clear beginning and end of the process, and the target should be reached after the transformation, what that ideal state. At this stage, the project team should be composed by the management and the relevant departments of membership, if necessary, provide expert help. 
(2) officially entered the analysis and design phase of the process. First analyze existing processes, can be used brainstorming, listing the existing problems in the process. Such as: input / output link error, step extra and other local issues, or the serial to parallel process definition, time errors, such as structural problems. Tools to identify and analyze the reasons for the problem of output by fishbone diagram and other issues. Second, identify gaps between the current situation and the ideal, and in which the erection of the bridge. And accordingly design a standard measure of the various steps and processes. Finally, the conversion from the status quo to the ideal state of implementation of the plan. 
(3) Finally, the implementation and improvement phase of the process. After the design process is not end of the story, the implementation phase is the key. At this stage, we must first define the implementation of the organizational structure, communication with relevant departments and staff, and provide training. But also to make plans, including what to do, who to do, when to do so would also like to do a risk analysis, that the possibility of failure and countermeasures. Then you want to get leadership 
Corporate restructuring 
Corporate restructuring 
Structure, programs and organizations recognized by the allocation of resources, can we really began. Implementation of reengineering program does not mean the end of reengineering. In the era of ever-accelerating social development, companies are constantly facing new challenges, which requires reengineering program constantly improved to meet the needs of the new situation.

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