作者：吴晓波，浙江大学社会科学学部主任、管理学院教授 在全球企业发展史中，丹纳赫集团是一个低调、务实、神秘而又高起点持续推进创新的优秀范例。这家从 传统制造业起家，以独特的并购、整合、提升之道实现超常发展的企业，在短短数十年间完成了从制造业 巨头到生命科学领导者的华丽蜕变，其成功密码为众多企业家和管理者所神往。浙江大学校友杨益先生和 他的同伴以在丹纳赫集团10多年里从普通员工到高级管理干部的亲身经历为基础，以管理专家的客观、理 性立场，站在跳出丹纳赫看丹纳赫的高度，全面、系统地为我们揭开了这层神秘的面纱。 作为长期从事企业管理，尤其是创新与战略管理研究的学者，我非常高兴应杨益先生之邀请，为本书作 序。怀着浓厚的职业兴趣，酣畅地阅读完样书后，我觉得本书有以下五个方面的特点。 丹纳赫集团成功的核心密码：DBS 丹纳赫集团的本质是一个长青并购基金加管理咨询机构的复合体。这种独特的商业模式使其在资本市场和 实体经济两个维度都取得了巨大成功。作为投资基金，丹纳赫集团展现出了卓越的β管理和α创造能力。它 通过精准的市场判断和严格的估值纪律，在并购领域建立起了难以复制的竞争优势。 从百万美元贷款起步，到成为市值千亿美元的跨 ...

Group 1 - Danaher is recognized as a "king of mergers and acquisitions" with a remarkable track record of 400 acquisitions and a return of 1800 times over 40 years [2] - The company has evolved from a real estate trust to a diversified global corporation, focusing on healthcare and achieving a market value exceeding $200 billion [5][6] - Danaher has consistently outperformed major competitors, including Berkshire Hathaway, in stock performance over the past 40 years, delivering nearly 100,000% total shareholder return since its inception [9][8] Group 2 - The company has completed approximately 400 acquisitions, spending around $90 billion, and has created significant shareholder value, estimated at $250 billion when including spun-off companies [11][12] - Danaher’s operational management system, known as DBS, has been instrumental in enhancing the performance of acquired companies, leading to substantial improvements in profit margins [14][15] - The company has a strong track record of developing CEOs, with many former executives taking leadership roles in other major corporations [17][19] Group 3 - Danaher’s business model is characterized as a combination of a long-term acquisition fund and a management consulting firm, continuously evolving its business portfolio [22][23] - The company has strategically shifted its business focus over the decades, with significant changes in revenue composition, particularly towards life sciences and diagnostics [25][26] - Financial metrics have shown consistent improvement, with revenue growing from under $1 billion in 1990 to approximately $31.5 billion in 2022, reflecting a compound annual growth rate of about 12% [27][28]