However, Cai Siqiang is in charge of the company's operations, and has completely positioned himself in the company's management, so for more than a year, in addition to the actual management of the company, he also seized the time to recharge, although he did not read any MBA, but has not stopped the study of theoretical and practical case analysis related to company management.

No one supervised, but Cai Siqiang raced against time to learn by himself, and when he encountered a lecture by a famous manager, he was able to squeeze out time to listen carefully. It's strange to say that since taking charge of SAL, Cai Siqiang, a well-known playboy-like figure in the school when he was a student, has no time to fart and chat with MM from all walks of life on QQ.

It can be seen that the whole appearance of people who have pursued is different.

Therefore, for international mergers and acquisitions, Cai Siqiang's depth of understanding is really different from Zhao Jianwu's. Mergers and acquisitions are definitely not a simple question of money, although money is indeed a very important issue.

Zhao Jianwu simply calculated the capital needs for the acquisition of TOMTOM, thinking that there would be no problem when the money was enough, this idea was indeed too simple.

To acquire an international enterprise, money is a problem, management is a problem, legal aspect is also a problem, corporate culture conflict and integration is a problem, and there are also big problems in some influential corporate mergers and acquisitions and even political aspects, so from an international point of view, cross-border mergers and acquisitions have always been a high-risk area.

The overseas M&A actions of more inexperienced Chinese companies have mostly ended in failure: Chinalco's acquisition of Rio Tinto failed due to political issues; Ping An invested in Fortis and suffered heavy operating losses; TCL's acquisition of Thomson resulted in heavy losses; SAIC acquired South Korea's Ssangyong Motor, which was in precarious condition, and failed to go bankrupt; CNOOC's acquisition of Unocal failed......

Even Lenovo's acquisition of IBMPC in 2005, which is known as a success story, was essentially a failure due to operational integration, because Lenovo did not successfully open the long-awaited American market with the IBM brand.

Thinking of these examples of failure, Cai Siqiang does not think that he is more shrewd than the bosses of these companies, and can easily and successfully avoid these risks.

"Brother Wu, you think too simply, it is too risky to acquire a company of the size of TOMTOM." Cai Siqiang looked at Zhao Jianwu's eager eyes, and said with some tears and laughter. "It's not just about money, whether the local government can approve it, whether the company's labor union will oppose it, how to manage it after the acquisition, and whether the original company's business can be sustained...... There are so many questions."

Each of these problems is not handled properly, may cause huge losses, so Cai Siqiang does not agree with the idea of international mergers and acquisitions, the company's current development momentum has been very good, navigation production, steady acquisition of a domestic enterprise for transformation, can be very steadily promoted, so it is not so big at all, resulting in the risk of bankruptcy.

"Brother Wu, do you know, Boss Gree once said that TCL's acquisition of Thomson was a disaster! TCL has been in the TV industry for so long and has not been able to get a European TV company, and it has been struggling for this acquisition for more than ten years, which shows how difficult international mergers and acquisitions are. ”

Cai Siqiang persuaded hard.

Buying a large business is not an easy task. What's more, this is still a cross-border merger and acquisition, which is indeed far beyond Cai Siqiang's current ability.

Cai Siqiang has studied the case of Lenovo's internationalization in depth, judging from the outcome of recent years, it is more like Lenovo has taken over the burden of IBM, although in terms of sales revenue, it has rushed into the world's top 500 companies with this business, but that is just a false name. Seriously, it is the long-coveted American PC market, and Lenovo products are still difficult to become mainstream.

In this way, although the scale of sales revenue fluctuates on the edge of the so-called Fortune 500, the company's profits have been hovering on the edge of profit and loss. Therefore, although Lenovo's senior management has always claimed that the merger and acquisition have been successful, there are really no successful highlights in terms of effect.

Of course, Cai Siqiang is not like this, according to his current business ideas, he still tends to seek progress in stability and appropriately control the speed of development, especially the investment business that spends a lot of money, can not be resolutely not, Cai Siqiang does not have the sense of urgency of Duke, not to mention that if you look at it horizontally, the current development speed of SAL can already be described as a rocket.

Now the most secure plan, is to buy and merge a domestic navigation manufacturer with considerable production capacity, so that the total investment is relatively not too large, even the top domestic navigation manufacturer should spend hundreds of millions of dollars to get it, so that the impact of capital on the company is not large, even if it fails, it is also within the scope of the company's control.

However, if you rashly launch an international merger and acquisition such as the acquisition of TOMTOM, use tens of billions of large funds, and still need a lot of bridge loans in the middle, the risk is too great, once the middle is slightly unsmooth, and it will be uncontrollable if the market is frustrated.

To make clothes should be tailor-made, and to be a person to try to do things within the scope of their ability, Cai Siqiang, a person from a business family, has been instilled with down-to-earth principles since childhood, so although the Cai family has not been popular for so many years, it is still developing steadily and getting stronger year by year.

And how many powerful big people and big companies suddenly rose like comets, and soon fell miserably like an avalanche...... These "glorious defeats" are so many that not even ten books can be written.

Putting aside these long-standing legends, let's just say that this time Duke rashly took over the Lingfeng factory, if you look at the current strength of MI company, Cai Siqiang thinks that this is a typical risky behavior with big eyes and small belly, relying on MI alone, Cai Siqiang estimates that even if he is not supported to death in the end, it is enough to choke.

Fortunately, Duke not only has MI, but also SAL when MI can't hold on, compared with the current scale of SAL, the total investment cost of the Lingfeng plant is not particularly high, and even if it fails, SAL will not be broken.

But if you really acquire this tomtom, it will be completely different, not only the total cost is far away, but also behind the corporate culture, management, etc., Cai Siqiang does not think that SAL has made relevant preparations. What's more, since TOMTOM is already in decline, the company may become a burden to SAL after it is bought.