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1 Management Journal : vol.12 PwCStrategy& www.strategyand.pwc.com.

2

3 vol WINTER Contents Management Journal M&A

4

5 PwCStrategy& www.strategyand.pwc.com. masahiro.kishida@booz.com 15 CDS CDS CDS CDS CDS CDS CDS M&A M&A 10 3

6 PwCStrategy& www.strategyand.pwc.com

7 CEO Cut Costs, Grow Stronger: A Strategic Approach to What to Cut and What to Keep HSBC 5

8 2 Cut Costs, Grow Stronger: A Strategic Approach to What to Cut and What to Keep 3 EBIT Cut Costs, Grow Stronger: A Strategic Approach to What to Cut and What to Keep 6

9 Cut Costs, Grow Stronger: A Strategic Approach to What to Cut and What to KeepHarvard Business Press, BMW P&G P&G P&G 2 3 EBIT Reprint Number:

10 PwCStrategy& www.strategyand.pwc.com. Capability 3 CDS EMS EMS Foxconn6 ITR&D 8

11 8 KFS KFS 9

12 1 A B C 3A BC CDS CDS EVA KFS KFS KFS 2 10

13 KFS B 1d 3 11

14 PwCStrategy& www.strategyand.pwc.com. CDS /3 NEC IR GE Siemens M&A Siemens200 12

15 CDS CDS 09/3 7 CDS

16 IT IT 5 IT 3 IT IT IT CDS 09/3 TVEMS Foxconn PlayStation3 SCE TV CDS TV Apple Apple PC Mac ipod iphone itms iphone EMS Apple 14

17 CDS EMS CDS CDS CDS CDS CDS 15

18 PwCStrategy& www.strategyand.pwc.com. 2 3M&A M&A M&A 30% M&A M&A M&A M&A 2000 M&A M&A 2000 BSE M&A 08M&A M&A M&A M&A04 M&A 13 4% 16

19 1 M&A M&A M&A M&A 2M&A M&A 2 17

20 2 M&A M&A M&A M&A M&A M&A M&A M&A 2 M&A M&A M&A M&A M&A 18

21 M&A M&A M&A M&A M&AM&A M&A 2. M&A 3. Take Give M&APMI 3 1. M&A M&A M&A PMI 19

22 PMI Take PMI Give 25 M&A M&A 20

23 PwCStrategy& www.strategyand.pwc.com

24 GE Merge Ahead GE 1990 GE 1 GE GE 100 GE 30 22

25 23 GE GE 1 GE GE

26 1000 PwCStrategy& www.strategyand.pwc.com. 1 R&D GI R&D GI R&D 32 R&D 90 2 GI R&D R&D R&D GI R&D R&D R&D R&D3 24

27 H R&D R&D R&D 43R&D R&D 3 R&D 100 R&D 3. 25

28 R&D 3 44R&D R&D R&D R&D 4% R&D 4 R&D GI R&D 5 290R&D GI R&D 5, R&D R&D Pitney Bowes R&D 26

29 R&D R&D 27

30 Applied Materials IBM 1 3 IBM Kraft Foods R&D 1 R&D (Harman International)

31 GM 2009 R&D GM R&D GM GM R&D ROI 40 R&D R&D ROI % R&D R&D 29

32 R&D ROI R&D Reprint Number: R&D 2008R&D 1000 R&D R&D 9 5 R&D R&D R&D R&D 2, R&D

33 PwCStrategy& www.strategyand.pwc.com. 31

34 20 AB A 1 32

35 33 CRM

36 2 CRM 2 34

37 CMO CMO ROI ROI CMO CMO CMO ROI ROI CMO PHP

38 Media Highlights Contact Information

39

40 PwCStrategy& www.strategyand.pwc.com.

Management Journal vol.18 PwCStrategy& 2014331www.strategyand.pwc.com. CK vol.18 2011 AUTUMN Contents Management Journal 3 4 CK 11 19 29 1 PwCStrategy& 2014331www.strategyand.pwc.com. cosmo.takamatsu@booz.com

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