The theory of core competitiveness strategy does not encourage enterprises to enter those industries that lack strong strategic connection with their core advantages, and holds that only a strategy based on existing advantages will guide enterprises to acquire or maintain lasting strategic advantages.

at present, it has become the knowledge of many enterprise managers to obtain the resource elements needed for the development of enterprise core competitiveness through mergers and acquisitions or to expand their business around core competitiveness. Therefore, before deciding to carry out mixed mergers and acquisitions, enterprises should pay more attention to their own capabilities and resources, fully understand their own core competitiveness, and operate near areas where they have certain advantages, instead of simply considering market attractiveness and blindly entering other fields, especially those industries that lack strategic connection with their core advantages.

The main bodies that have successfully achieved the expansion of mixed mergers and acquisitions are often large and giant enterprises with superior brands or other core competitiveness.

Among them, the expansion of Coca-Cola Company is the most representative.

In p>1961, Coca-Cola Company purchased Minute Med Frozen Juice Company;

In p>1961, Duncan Food Company (mainly engaged in coffee industry) was purchased;

In p>1977, Taylor Beer Company was purchased and successfully operated, making it the fifth largest liquor company in the United States.

In 1971s and 1981s, Coca-Cola Company also expanded its business to many other "unrelated" fields such as industry, culture and entertainment, sports and social welfare through mergers and acquisitions.

It should be said that the success of Coca-Cola Company is closely related to its magic formula. However, we can't think that Coca-Cola's technical formula is its core competence, and its real core competence should be the company's marketing capability-clear, persistent marketing strategy and continuous marketing innovation. Otherwise, it will be difficult for us to understand why Coca-Cola Company can't develop with its inventor, Pemberton Pharmacist. For another example, Haier's diversification is an important way to expand. Has it failed? There are also, for example, its development in the pharmaceutical industry is not fast, and it is not ideal enough. The reason is not a technical problem or a financial problem. The most important point is that the original comprehensive advantages and core competitiveness of the Group cannot be borrowed by the pharmaceutical industry. Because the user's trust in Haier products is limited to the field of home appliances, he believes in Haier's refrigerator and Haier's washing machine, but he may not believe in Haier's medicine. Therefore, this asset may be spun off by Haier.

it can be seen that there are great risks in mixed mergers and acquisitions that deviate from the core competitiveness of enterprises. This is consistent with the viewpoint of enterprise competence theory. According to the viewpoint of enterprise competence theory, blind diversification deviating from the core competitiveness of enterprises is not only difficult to disperse risks, but may increase the risks of enterprise management. Therefore, the mixed merger and acquisition around the core competitiveness is feasible, and it can achieve the expected goal of the enterprise and make due contributions to the realization of the long-term strategy of the enterprise.