Acquisition strategy: A case study within family businesses

The context within which firms exist today is lined by the opportunities and threats of globalization, increased competition and a constantly intensifying pace. Ever since the 19th century mergers and acquisitions (M&A) have been an important way for firms to compete. Mergers and acquisitions are largely fuelled by the desire to attain synergies, market power, competitiveness and economics of scale and scope. Today, much focus in media and theory is directed towards publicly traded corporations, however, the importance of smaller to medium sized, privately owned companies, e.g. family businesses, should not be overlooked. Family businesses differ from other corporations, not only on the ownership structure but also on other organizational and strategic characteristics.

This thesis will investigate acquisitions in family businesses in order to enhance the understanding of their acquisition strategy and motives.


1 Introduction
1.2 Problem
1.3 Purpose
1.4 Delimitations
2 Frame of Reference
2.1 Acquisitions
2.1.1 Dividing Mergers and Acquisitions
2.1.2 Phases in the Acquisition Process
2.1.3 Motives for Acquisitions
2.1.4 Strategy and Acquisitions
2.1.5 Culture
2.2 Family Businesses
2.2.1 Definition of Family Businesses
2.2.2 Characteristics of Family Businesses
2.2.3 Strategic Considerations within Family Businesses
2.3 Acquisitions within a Family Business Context
3 Research Questions
4 Method
4.1 Quantitative versus Qualitative
4.2 Perspective
4.3 Case Study
4.3.1 Case Design
4.3.2 Case-Case Analysis
4.4 Data Management
4.4.1 Data Collection
4.4.2 Data Reduction
4.4.3 Data Display
4.4.4 Conclusions: Drawing/Verifying
4.5 Criticism of Method
5 Empirical Research
5.1 Bröderna Brandt Bil AB
5.1.1 Acquisitions
5.1.2 Family Business
5.2 ROL AB
5.2.1 Acquisitions
5.2.2 Family Business
5.3 General Views on Family Business
5.4 General Views on Acquisitions
6 Analysis
6.1 Family Business Definition
6.2 Comparing two Family Businesses
6.3 Family Business Characteristics and Strategy
6.4 Acquisition Strategy
6.4.1 Acquisition Strategy and Culture
7 Conclusion
8 Discussion
8.1 Complementary Reflections
8.2 Thesis Criticism
8.3 Future research References

Author: Brandt, Erik,Kull, Patrik,Björkdahl, Jonas

Source: Jönköping University

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