近年來因雲端運算(Cloud Computing)、智慧型行動載具(Smart handheld Device)等資訊與通訊技術的整合與匯流，再加上金融證券產業政策開放、國際化與自由化、證劵業在中國大陸發展的限制逐步鬆綁等諸多因素，原本各有自己領域的資訊服務廠商都開始磨拳擦掌，紛紛在手持式裝置上推出各種證券服務商品，這對過往在Ｂ２Ｃ領域獨佔鰲頭的E公司無異是最大的衝擊。 本研究將藉由探討E公司現行定位、分析因智慧型行動載具之演進，對金融資訊服務廠商所產生的市場改變、衝擊與競爭，進而找出新的市場商機、訂定新的市場定位與策略，期盼能為該公司發展再造藍海市場商機。 主要結論為：金融證券資訊服務產業已經是一紅海市場。為解決E公司面臨的產業困境，思考E公司未來發展走向，重新定位E公司的核心競爭力(Core Competence)，如何利用現有智慧型行動載具的特性化阻力為助力，在金融證券資訊服務產業這一片紅海中開闢新藍海。本研究將依據波特(Michael E. Porter)的五力分析及競爭論(On Competition)與洪順慶教授之新產品開發流程，提出新舊產品策略及商業模式(Business Model與Go-To-Market Model)的建議：  舊產品:運用該公司在證券資訊市場的領先地位，作業流程核心管理能力，通路優勢與客戶特性，為進入衰退期的既有產品(專業股票機)發展社群服務，增加老客戶黏著度，並搶食競爭對手市場，以延續該產品生命週期。  新產品:善用既有的雲端優勢及智慧型手持式裝置資通訊整合匯流與Web2.0的新技術，開發客製化(Tailor-Made)、主動揭露(Event Push、Calendar Push)，推出智慧的(Smart)、簡易的(Simple)、方便的(Convenience)的理財生活管家服務，開闢新藍海。 / During the past few years, the information service industry of the securities market has change hugely and the competition becomes more and more intensely, due to the opening and internationalization of the government industry policy and the rapid development of the ICT technology--includes cloud computing, evolution of mobile communication and smart handheld device, and ICT convergence…. Because of these changes, the information service vendors of the securities market have started penetrating their services into mobile device with low-price or price-free strategy. The impact to the E-Corp, the leading company with the B2C business model, is most fiercely. First, the study will analysize the change, impact and competition of the information service industry of the securities market, and will apply E-Corp as the case-study-company and probe the current positioning of E-Corp. Finally, the study will try to find out the new business opportunities for vendors, and will make suggestions on marketing repositioning and product development and business strategy to E-Corp. Exectuctive summary:The information service industry of securities market is a red ocean market. The study will utilzie the theories of Five-Force-Analysis (Michael E. Porter), Product Life Cycle (SC Horng, NCCU Taiwan), Core Competence (Gary Hamel & C.K. Parhalad), and will also think how to apply new technologies, such as cloud computing, smart handheld device, Web2.0,…to solve E-Corp dilemma and to help E-Corp to creat new blue ocean business and market. The suggestions are:  For current product: To extend the product life cycle. First, to apply the strength of the leading position in industry, channel strength and procedure management core competence to develop community network service to increase customers’ loyalty and to low down the rate of loss. Second, to seize the competitors’ customers.  For new product:Apply the strength of cloud computing the E-Corp has, and utilize ICT convergence and smart handheld devices, Web2.0 technologies to extend the service from securities to financial/wealth management service with the functional characters of event push/calendar driven, and smart/simple/convenience.

Haitz定律是專家根據多年的觀察發現，LED每十年它的流明成本會降至原來的十分之一，但是亮度會提升二十倍。它被視為LED產業的摩爾定律。而環保節能議題，讓高效率、節能與無毒的LED產品成為各方的寵兒，更是各國政府重點扶持的明星產業之一。產業競爭程度亦隨著快速上升，在面對千家爭鳴競爭日益激烈的產業環境下，先行者累積許多資源與能力，或可形成進入障礙。但是，在專業分工、資源與能力可替代或是複製的情況下，有些資源便不再獨特與唯一。甚至，隨著產業的快速進步，先行者所擁有的資源與能力，如果沒有跟上時代的腳步，不僅無法成為企業組織的能耐，相反的，可能成為企業的包袱。 A企業，一個產業先行者，面臨產業成長的絕佳機會，也同時要接受來自各方的競爭與挑戰，包含潛在進入者、原有產業競爭者、上游供應商、下游顧客與替代品等之競爭。不同環境結合企業既有之資源與能力，如何讓企業勝出的策略決策更形重要。本研究針對A企業在不同時期，所面臨不同環境，依據它自有之資源與能力，與其所採取之策略進行對比分析，最後從績效來檢視該時期之競爭策略。 本研究從產業競爭對手中，挑選出X企業，是一家與不同創新模式之後進者，以及Y企業，是規模相當的先行者，來進行分析比較，期待對A企業的競爭策略能有知彼知己之效果。在研究中發現，創新應用為LED產業成長的不二法門，企業唯有善用自我的資源與能力，結合市場方可勝出。 / Haitz's law is an observation over many years in LED, which states that, in every decade, the cost per lumen (unit of useful light emitted) falls by a factor of 10 and the amount of light generated per LED package increases by a factor of 20. This is referred as Moore's law in LED industry. Moreover, environmental protection and energy saving have become global issues. The advantages of LED products, such as power saving, high efficiency and non-toxic, have made LED industry patronage by governments and welcome worldwide. Governments in many developed countries even treat LED industry as one of star industries. However, the competition in this industry has increased rapidly. Facing hundreds of competitors, early entrants have accumulated many resources and capabilities, which also create entry barriers for others. Under the circumstances that professional services, resources and abilities could be substituted and duplicated, some of pioneer’s advantages are no longer unique and advanced. Even worse, because of the quick pace of this industry, the resources and abilities of one pioneer could even become heavy burden, if the pioneer does not catch up the evolution of the industry. Company A, a pioneer in this field, is enjoying the opportunity of industry growth but, at the same time, it is facing competitions and challenges from different areas, including potential entrants, existing competitors, suppliers, customers and substitutes. It is getting more important to have correct strategic directions to win under different circumstances by consolidating the firm’s resources and capabilities. This research engages in comparative analysis to examine the strategies that this company has taken during different periods of its development cycle and different environments.

台灣歷經過去幾十來在電子工業的蓬勃發展，帶動了供應鏈上各種產業聚落的形成。舉凡終端產品如個人電腦、筆記型電腦、無線通信及影音設備等。關鍵電子零組件如電源供應器、印刷電路板、積體電路代工業等。電源供應器(Power Supply) 提供各種電子產品穩定的電壓電源，隨著各式電子產品的演進，電源供應器產業的公司也不斷的進行各種創新研發與經營策略的調整。 本研究以T公司為個案研究對象，探討台灣電源供應器產業在以往的成長經驗裡，在經營策略面與創新模式中，有哪些關鍵成功因素。經由外在環境探討與內部組織優劣勢分析(SWOT)，以及公司現行策略類型之整理（司徒達賢2005），本研究進行個案公司可行性策略之研擬、分析與建議(TOWS)。個案公司於實體及虛擬通路市場有多年的經營與成功經驗，舉凡創新研發與專利佈局、多品牌全球交叉行銷、以核心領域擴散之產品多角化經營路線等。本個案是一個台灣中小企業在極大化有利的外在機會與創新研發的強項下，成功的達成逐步成長的目標並進而完成台灣OTC市場上櫃的案例。 由於2008年以來的金融風暴及今年歐美市場在主權債務問題與全球經濟疲弱的表現，僅少數廠商仍有逆勢成長的表現；對於未來電源供應器產業的景氣看法，也看法分歧。本研究透過系統性的分析工具，從總體經濟面與產業面的威脅與機會及內部組織的優劣勢分析出發，推衍出對未來經營策略的具體方針與策略執行方案。可做為個案公司對未來發展經營策略之建議以及科技相關產業或其他企業在經營策略分析、行銷通路佈局之參考。 本研究探討之主要經營創新策略關鍵重要因素，包含了多品牌全球互動行銷、逆循環行銷模式、搭配專利進行顛覆式研發創新、少量多樣模組化生產等創新經營模式。以上因素也造就了個案公司過去連續多年成長倍增的驅動力量。 關鍵字：電源供應器、多品牌全球交叉行銷、TOWS

近年來出現許多只透過網路發行，沒有傳統媒體在背後支持，也不屬於任何媒體集團的網路原生新聞網站。本研究旨在分析網路原生新聞網站在不同階段的策略形態，其策略與環境條件如何配合，以及可能會遭遇的困難。 本研究透過個案研究法來進行資料的搜集，以近年來興起的網路原生新聞網站《風傳媒》為例，透過對《風傳媒》總編輯的深度訪談來搜集資料，並且以司徒達賢教授的「策略形態分析法」與「策略矩陣分析法」，來解析《風傳媒》在不同時期的策略形態。 本研究的研究結論如下所示：（一）策略與環境、條件前提的適當配合能創造良好效益：《風傳媒》在成立初期選擇以政治新聞為主要的網站主題，配合即將到來的重大選舉，使《風傳媒》在初期便獲得可觀的流量以及粉絲數；（二）以特色新聞主題切入市場再發展多元內容：《風傳媒》在成立初期以政治新聞與調查報導先建立一定的流量與粉絲之後，再發展多元化的新聞內容，來更廣泛的閱聽眾；（三）《風傳媒》發展過程中遭遇的挑戰：1.有限的資源與人力：重要性相對較低的新聞內容，可以採取較低成本的方式產製；2.必須拿捏好與Facebook之間競爭又合作的關係：從Facebook而來的流量是網路原生新聞網站的重要流量來源，但是Facebook同時也是網路原生新聞網站最大的替代品威脅來源。（四）人力資源是網路原生新聞網站重要的資產：資深記者與編輯的專業、經驗與人脈，會對網路原生新聞網站有很大的貢獻。 / In recent years, some native online news sites, which don’t belong to traditional media or media groups, entered the market. The research focuses on the strategic posture and forms in different stages of native online news site, and how the strategy fits environmental and organizational conditions, and the challenge that native online news sites may have. The research is conducted by case study method and takes the promising native online news site, Storm Media Group as my case study. To collect the information, there was an in-depth interview with the chief editor, and the strategies of Storm Media Group in different periods were analyzed by Dr. Seetoo’s ‘’strategic posture and form analysis method’’ and ‘’strategic matrix analysis method’’. The conclusions are showing below. First, great fits between strategies, environmental and organizational conditions could benefit company very well. Storm Media took politic news and investigation reports as the feature of its site when they entered the market, and this move brought great traffic and fans to Storm Media. Second, it used featured topics to enter market and then diversify the topic of news. Third, the limitation of resources and how to handle the co-optetion with Facebook are the challenges of Storm Media. The news which is less important is produced by low-cost ways. Though Facebook is the important traffic source of native online news sites, Facebook is a great threat of replacement to the site, too. Forth, talented people are important assets to the native online news sites. Experienced journalists and editors can make great contributions to Storm Media.

聚醯亞胺薄膜用於軟性電路板市場從2006年起，由於競爭者眾多，整個產業環境變得十分嚴苛，事業屬性從獨佔性變成競爭十分激烈的寡佔性市場。此篇論文通過產業的總體環境分析及產業分析來對軟板市場進行區隔，並針對不同目標市場擬定行銷策略，將產品重新定位來滿足不同目標市場的需求，以期達到杜邦公司聚醯亞胺薄膜產品在軟性電路板市場的永續成長。 從含有產品價格因素在內的問卷調查中找到產業鏈中最有議價能力廠商的最重要需求及預估用量，進而做為公司開發下一世代聚醯亞胺薄膜產品的依據。 / Start from 2006, Polyimide films industry has become very competitive in flexible printed circuits applications. The polyimide film industry has transformed from monopoly to oligopoly, major players in flexible printed circuits market are DuPont, Kaneka, SKC-Kolon and Taimide companies. After analyzing the political, economics, social, technical and industrial trends, The FPC industry has been re-segmented into two segments – Basic market and Niche market. With different strategies been developed for different markets, we re-position our different type of Kapton® polyimide films for different markets and developed an executable marketing plan which will be test in selected customers. Through price included questionarries, we also found the key industrial decision makers’ unmet needs, price expectation and potential volume. Base on the findings, we are able to develop the next generation polyimide films to satisfy customers.

政府透過法律制度將原先具有非排他性及非敵對性等公共財性質之專利財產化，藉此鼓勵發明人進行研發，間接為整體社會帶來促進創新與阻礙創新等不同面向之影響，而專利之私有化使擁有專利之所有人取得排他獨佔權限，如此累積創新所帶來之結果便是形成專利叢林現象，使單一產品生產時須取得眾多專利，增加未取得專利之侵權風險，該專利叢林現象後續更促使訴訟成為新興專利聚集型態獲取利益之手段。 從專利取得之角度觀察，其取得專利之方式可系統化分為自行研發、併購等內化形式或取得專利授權等外部形式，而專利取得之動機則從單純產業利用轉變為企業策略性考量；現今專利市場中，更經常將取得之專利以授權或出售方式商品化，甚或以專利作為商業談判、利益交換之籌碼，使專利有貨幣化現象。從經濟學之角度思考，專利貨幣化或有交易、預防及投機等動機，並得從專利本質上與後續發展上之特性觀察到專利貨幣化之因素。 由於本文將專利市場分為專利聚集、專利交易平台、專利資訊提供者及一般個人、實際從事生產公司與研究機構等不同類型參與者，並將研究對象著重在專利聚集與專利交易平台二者，因此特於本文中討論專利聚集形成之階段與交易模式，且因應專利交易模式而衍生探討專利交易價金之計算。從本文可知，專利聚集得區分為攻擊型、防禦型、以授權營利型及混合型四大類，各類型專利聚集及專利交易平台皆有其創造價值之價值鏈活動安排、整體產業競爭作用力之五力分析與支援核心競爭優勢之相對應策略活動系統，並從各市場參與者之運作模式中亦得觀察可能存在之缺失。 攻擊型專利聚集表面上雖提供授權服務，然手段上具有強制性，以訴訟等手段迫使下游實際從事生產等公司支付授權金以取得專利授權，從模式上觀察，其存在未經挑選專利、擁有專利過多及組織體系過於龐雜等缺失；而防禦型專利聚集則從下游買方之迫切需求角度出發，以防禦目的之專利授權或出售為訴求，藉由廣泛涵蓋不同領域之專利組合滿足下游買方對於專利侵權風險之控管，然其現有模式可能因支付有限年費導致難以確保購買大量專利之品質，並有為符合眾多會員需求使專利相關性降低以及整體產業難以避免搭便車現象等缺失；至於以授權營利型專利聚集透過技術或產品標準定義之專利組合，包裹式將下游實際從事生產廠商需要之專利一次性授權，雖不見得有授權之急迫需求，但顯然降低下游買方取得授權之交易成本，惟其缺失為權利金分配制度之公平性與專利組合之區別標準。混合型專利聚集則涵蓋上述三種專利聚集之優勢，並以特殊之智財資本市場重新定位無形資產能夠創造之價值，對於下游買方及上游專利供應者而言，皆帶來產業結構變化之衝擊，同時以專利組合授權來滿足下游專利被授權人之需求，不過，混合型專利聚集管理複雜度高、經濟利潤有下降可能，並且長期將有價格扭曲之應變風險。 專利交易平台與專利聚集不同之處在於其不直接取得專利或專利授權，僅以專利供給方與需求方之交易中介者自居，然從廣義概念上，其亦為專利聚集之一種形態，有助於專利買賣雙方取得資訊，降低搜尋、談判或執行等交易成本，並透過其他業務互補專利交易平台業務可能之不足，惟其仍舊有所缺失，亦即價格決定機制之困難、服務範疇過大導致成本控管之不經濟與交易公開之接受程度等問題。從本文各章節之分析中，可比較各市場參與者之不同，亦得觀察彼此間之互動與缺失，從而提出未來可能之研究方向，並針對專利市場之管制與開放給予建議。 / The propertization of patents which intrinsically show the traits of public goods including non-excludable and non-rival was established to encourage inventors and therefore leads to positive and negative influence to the society indirectly. The privatization of patents protects the exclusive rights of the owners, whereas what we called the accumulated innovation set up the patent thickets that enhance the risks of infringement and promote the strategic litigations raised by new patent aggregators. The methods of acquiring patents could systematically divided into internalization which includes R&D and M&A, and externalization which includes licensing and so on. While the motivations of acquiring patents transform from industrial applications to strategic considerations, and the patents gradually become commercialized and even express its monetization. This paper classifies different players in the patent market, such as patent aggregators, patent transaction platforms, patent information providers and operating companies, while with the focus on patent aggregators and patent transaction platform. Besides, the patent aggregators could be categorized into “offensive patent aggregators”, “defensive patent aggregators”, “running by licensing patent aggregators” and “hybrid patent aggregators”. Moreover, the findings of this paper stand on what each patent aggregator and patent transaction platform has its scheduled activities of the value chain, the five forces model to the analysis of its industry and the strategic activities system for supporting its core competence, and even the demerits of its operating model. The offensive patent aggregators provide licensing services, while its services apparently contain compulsive licensing model by raising claims against the operating companies. Instead, defensive patent aggregators help the downstream buyers in need to fight against the offensive patent aggregators by licensing or selling patent portfolios which cover broad technological areas and benefit risk management. Next, the running by licensing patent aggregators package their patents by standards of technologies or products and provide “one-stop-shop licensing solutions” to the downstream buyers to save the transaction costs. Furthermore, the hybrid patent aggregators embrace the advantages of three kinds of patent aggregators mentioned above and try to create the IP capital market leading to the transformation of the industry structure. On the other hand, the patent transaction platforms are different from the patent aggregators in the ownerships of patents. The patent transaction platforms will never become the owner of the patents or acquire the rights of patent licensing, it just named themselves intermediaries of transaction that reduce the transaction cost and enhance the transparency of information. Nevertheless, the diversified operating models of different patent aggregators and patent transaction platforms exist its improvable or inevitable drawbacks. The analysis of each chapter in this paper could help to compare the players in patent market and contribute to observe the shortages and interactions between the ones. What’s more, this paper gives some suggestions for further researches in the future as the conclusion.

由於國內金融（包括銀行、保險、證券商等）家數過度膨脹，形成惡性競爭，導致金融服務品質低落，而且獲利式微，面對金融市場自由化與國際化之趨勢，政府為改革金融體制，引進金融控股公司制度，使金融機構跨業經營機制更具規模，滿足顧客得一次購足金融商品，促使金融機構朝大型化發展，發揮金融綜效與規模經濟，以提升國際競爭力。 本文主題「論金融控股公司保險子公司之經營策略與內部稽核」，理論與實務並行探討，先論述控股公司之相關法律問題、金融控股公司之立法例。其次以「五力分析術」探討保險子公司經營環境之優劣勢及風險，提出創新之經營策略，並實例引證美國花旗集團異業聯盟之成功經營策略。為確保投資大眾及保戶之權益，同步探討公司治理制度及內部稽核制度之重要性。 本文「結論」：評述政府金融政策之缺失，成立金融控股公司推動金融改革，保險子公司應強化競爭力。「建議」：金融控股公司及各子公司均應加強風險管理，政府並應建置金融監理制度。 關鍵字：保險子公司、金融改革、控股公司、金融控股公司、跨業經營、一次購足商品、金融綜效、規模經濟、五力分析術、異業聯盟、公司治理、內部稽核、風險管理、金融監理 / Due to the over-supply and severe competition among financial institutions (namely banks, insurance companies and security firms), the quality of finance service deteriorates and the profit margin of financial industries decreases. To cope with the global trend of liberalization and internationalization of financial services, the Government has undertaken the reform in the aspect of financial service system and enacted the “Financial Holding Company Act”. Under new current mechanism, a financial conglomerate can sell its products by means of cross selling. Not only it may benefit consumers with a “one-stop shopping”, but also may create a synergy in economies of scale to enhance financial institutions in global competition. The main theme of this thesis focuses on the managerial strategy and internal auditing in an insurance subsidiary under a financial holding company. It addresses in the first place the legal issues related to a holding company and a financial holding company. Then the author adopts five factors approach to analyze the business environment of an insurance subsidiary under a financial holding company. As a successful case for its' strategic alliance,the CitiGroup experience in the United States is also examined. In addition, to protect the interest of investors and policyholders, corporate governance and internal auditing issue is also explored. In the conclusion, it is observed that under the new era of financial conglomeration, an insurance subsidiary still needs to enhance its competition ability. It is suggested that the government should continue to reform the financial regulatory system and to require financial holding companies and their subsidiaries to implement a comprehensive risk management. Keywords: Insurance Subsidiary, Financial Reform, Holding Company, Financial Holding Company, Cross Selling, One-Stop Shopping, Financial Synergy, Economies of Scale, Analysis of Five Factors, Strategic Alliance, Corporate Governance,Internal Auditing, Risk Management, Financial Regulation.

本論文從IBM在軟體的策略，尤其是軟體的產業解決方案作為研究的核心。2008年的金融海嘯造成全球經濟大衰退，IBM適時提出了智慧的地球的計劃與願景，並積極推動從客戶實際需求與價值思考出發的產業解決方案(Industrial Solution)，結果IBM驗證了其營運與業績不但沒有受到影響並且在營收與獲利上繼續穩健成長。本論文首先依時間軸對IBM自1993年葛士納總裁接任後針對服務與創新的轉型；到2003年帕米沙諾接班後的併購計劃與智慧的地球創新策略；乃至於2012年羅美蒂繼任後推動之商業分析，軟體產業解決方案以及最重要的2015年成長計劃等各項重要改革與執行策略做一詳細的整理與分析，個案研究針對IBM公司所面臨的挑戰與企業經營策略及轉型架構進行分析與探討並延伸至軟體產業解決方案，以Michael Porter的五力分析架構對IBM公司在軟體產業與產業解決方案的產業競爭態勢予以深入探討分析，並針對IBM與其主要競爭對手的軟體產業解決方案以SWOT做一完整的分析，此外也從IBM的軟體事業群的成長與轉型策略，來驗證IBM對軟體的產業解決方案的重視與策略意涵，並針對軟體之產業架構(Industry Framework)的發展與導入的「客戶導向與客製化產業解決方案開發策略(client focused & tailored execution strategy)」與成功要素予以分析並歸納。 最後結論中對國內軟體產業以Michael Porter的鑽石模型做一分析，並對未來台灣軟體產業可能的發展方向提出建議以提供產業與政策制定者參考，如何面對與開發國際市場以及如何從人才面發展並建立台灣的軟體產業競爭優勢將是值得我們仔細深入思考的方向，希望未來台灣的軟體產業也能創造出典範移轉，發展出如同IC設計與製造產業的規模與競爭優勢。 / The development of this paper is focused on IBM`s software strategy，especially on the strategy of IBM`s software industrial solution as the research focuses。When the financial tsunami caused the serious economic recession around the world during 2008 year end，IBM raised the「smarter planet 」initiative and vision to drive the execution of series of industrial solution centric projects according to the client real requirements and values。IBM proved that its operation and business performance were not affected by this crisis，moreover IBM continued to grow steadily in the areas of both income and margin。In the context of this paper，I will first analyze the IBM`s transformation history in the three key stages under three CEOs，including Lou Gerstner`s service & innovation transformation since 1993；Sam Palmisano`s Merge & Acquisition plan & smarter Planet initiative；and Ginni Rometty`s 2015 roadmap plan to shoot for at least US$ 20 EPS by year 2015。 In the case study we will analyze the challenges which IBM was facing from corporate operation and transformation standpoints. For IBM`s software & software industrial solution strategy，Michael Porter’s five forces framework will be used to do an analysis to have a clear view on IBM`s competitiveness in the software & software industrial solution industry. SWOT analysis will also be applied to gain an in-depth view on IBM and its major software industrial solution competitors。From IBM software group’s growth and transformation strategy，we can also verify the strategic imperatives on IBM`s focuses on industrial solutions。Finally we use the example of how IBM successfully developed the various Industry Frameworks through client focused & tailored execution strategy to illustrate IBM`s asset-based solution development concept。From the recent organizational transformation of IBM software group in 2012，we can also prove that the transformation direction is toward solution centric。 In the summary of this paper I will analyze Taiwan`s software industry using Michael Porter’s Diamond model to come out several suggestions for the reference of software development vendors and government policy makers in Taiwan。How to develop the international market and build the talent resources to increase Taiwan`s competitiveness advantage will be the key focuses which we need to think deeply。Hopefully the software industry in Taiwan will have a paradigm shift and grow to the scale of the IC design and manufacturing industry with competitiveness。