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柏勳 發問時間: 社會與文化語言 · 1 0 年前

這篇雜誌內容我看不是很懂有人可以幫我翻譯一下嗎??

Launching a World-Class Joint Venture

JVs and alliances can deliver more shareholder value than M&As can, but getting them off the ground can trip you up in unpredictable ways.

by James Bamford, David Ernst, and David G. Fubini

More than 5,000 joint ventures, and many more contractual alliances, have been launched worldwide in the past five years. The largest 100 JVs currently represent more than $350 billion in combined annual revenues. So it’s become clear to many companies that alliances—both equity JVs (where the partners contribute resources to create a new company) and contractual alliances (where the partners collaborate without creating a new company)—can be ideal for managing risk in uncertain markets, sharing the cost of large-scale capital investments, and injecting newfound entrepreneurial spirit into maturing businesses.

What’s less clear to these companies is how to overcome the many challenges inherent in implementing joint ventures and alliances. In 1991, we assessed the performance of 49 joint ventures and alliances and found that only 51% were “successful”—that is, each partner had achieved returns greater than the cost of capital. A decade later, in 2001, we assessed the outcomes of more than 2,000 alliance announcements—and the success rate still hovered at just 53%, despite studies that have highlighted the well-known reasons for JV failure: wrong strategies, incompatible partners, inequitable or unrealistic deals, and weak management.

麻煩幫我解答一下,真的很謝謝喔!!

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    1 0 年前
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    Launching a World-Class Joint Venture

    JVs and alliances can deliver more shareholder value than M&As can, but getting them off the ground can trip you up in unpredictable ways.

    by James Bamford, David Ernst, and David G. Fubini

    開創一個世界級的合資事業

    較諸企業併購,合資事業和聯盟可以創造更多的股東價值,但是要讓他們起飛卻可能以料想不到的方式把你摔倒。

    More than 5,000 joint ventures, and many more contractual alliances, have been launched worldwide in the past five years. The largest 100 JVs currently represent more than $350 billion in combined annual revenues. So it's become clear to many companies that alliances—both equity JVs (where the partners contribute resources to create a new company) and contractual alliances (where the partners collaborate without creating a new company)—can be ideal for managing risk in uncertain markets, sharing the cost of large-scale capital investments, and injecting newfound entrepreneurial spirit into maturing businesses.

    在過去五年,全世界已有5,000家以上的合資事業及更多的合約結盟出現。前100大合資事業,目前其合併年營業額超過3,500億美元。所以,對很多企業來說事情已很明顯:聯盟,包括資產合資事業(其中合夥人出資創辦新公司) 和合約結盟(其中合約夥伴彼此合作唯未創辦新公司) 二者,在管理某些市場的風險上,在分擔大型資本投資的成本上,以及在注入新發現的創業精神於成熟事業上,可以是理想的選擇。

    What's less clear to these companies is how to overcome the many challenges inherent in implementing joint ventures and alliances. In 1991, we assessed the performance of 49 joint ventures and alliances and found that only 51% were "successful"—that is, each partner had achieved returns greater than the cost of capital. A decade later, in 2001, we assessed the outcomes of more than 2,000 alliance announcements—and the success rate still hovered at just 53%, despite studies that have highlighted the well-known reasons for JV failure: wrong strategies, incompatible partners, inequitable or unrealistic deals, and weak management.

    對這些企業來說,事情較不明朗的,就是如何克服合資事業與聯盟在實施上本有的眾多挑戰。1991年,我們對49家合資事業的績效作一評價,並發現僅有51%獲得「成功」─ 也就是說,各合夥人所達成的報酬已大於資金成本。十年以後的2001年,我們對2,000個以上的聯盟成果發佈作一評價,其成功率仍只徘徊在53%左右─ 任憑研究上已經已獲致眾所周知的合資事業失敗理由:策略錯誤、合夥人不合、交易不公平或不實際,以及管理無力。

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