首先針對個人在創業時,如何將公司事業策略與行銷策略結合作結合，規劃在改變消費者行為時所面臨的問題與挑戰，要如因應。並且在顧客與通路之間如何透過其行銷關係取得市場的先機作為研究的目的設定。 本研究從各「文獻探討」出發，旁徵博引全球抗感染用藥市場與腸病毒用藥市場及H1N1流感疫苗市場，說明禽流疫情仍持續在台灣進行中。進而藉由日本環境用藥市場推估資料以假設的方式探討確立台灣整體環境用藥市場未來的變化狀況。藉以當市場需求被引出時，以禾千代股份有限公司為例，討論禾千代在價值交換的過程中，生產者如何利用與通路、與消費者之間的三角關係，透過差異化服務的行銷手法，去改變消費者使用習慣。並在競爭廠商林立中，打開台灣環境抗菌生物產業的需求，在市場佔有一席之地。 整體研究並藉由實際至賣場與競爭對手店鋪銷售員做意見訪談及匯聚台灣國內各家著名次氯酸水生產公司的銷售方式並蒐集次氯酸水目前的使用相關文獻、次級資料，找出次氯酸水之正確經營策略，以此建立起論文整體之架構。並以業界相關理論之說明為輔，透過台灣環境用藥市場分析推估與假設及對競爭對手通路的實際拜訪來釐定公司之初期與未來創業方向。找出公司之定位與未來5年內所需之行銷策略並確立未來公司整體方向。 研究結果顯示，以滿足顧客價值及服務差異化及測底改變消費者使用習慣為導向，為禾千代股份有限公司之最佳核心方向。在透過深度了解市場後，找出需求的目標區塊，並透過產品差異化服務與價格策略整合，提升附加價值以增加商品之競爭力。在此同時與有專業度與可信賴度的通路進行策略聯盟與合作銷售以降低消費者初期的不便利性及取得成本，並獲得消者的青睞。另外最重要的是，藉由專業人員的商品說明與SOLUTION建議銷售，可引起消費者當下的預防知識並對次氯酸水的認識而引起消費者的購買意願，同時藉由改變使用習慣以獲得廣泛使用的口碑，建立消費者對公司產品的長期信賴與使用。 從整體經營策略著手，俾使合千代股份有限公司初期公司發展方向即趨完整及正確，並需時時觀察與因應消費者意向、競爭者動態並審視生活環境抗菌生物科技產業的關鍵需求因素，依此方向，禾千代股份有限公司持續依滿足顧客需求作為經營依歸，持續發展相關系列定位清楚之新商品，並戮力引進環境抗菌之新創意產品，以建立強而有力的門檻，即有機會使得企業持續成長並圓創業之夢，並希冀能對全球日益重要的環境保護與改善問題作出對策與貢獻。

民國九十年左右，正值國內傳統行業轉型的年代，許多中小企業紛紛從所謂的夕陽工業轉型到科技業。近幾年來，政府也極力鼓勵民間企業自創品牌。但轉型成為自創品牌的企業寥寥可數，真正成功者更是少數。本研究試圖從台灣某家由傳統行業轉為自創品牌的中小企業來了解其建立品牌的經驗，除文獻探討及收集該公司之歷史資料外，並專訪該公司經理人後，進行個案分析及建立理論架構。此外，收集2000個顧客的調查資料與公司過去兩年來的銷售績效，以試圖了解競爭環境如何影響新自創品牌公司營運策略的調整，以及公司營運策略調整下，其創新研發與行銷之管理與運作。 本研究所得的重要結論有以下幾點： 一﹑新「自創品牌」公司面對競爭激烈的產業如何動態調整「營運策略」? 1. 新「自創品牌」公司的經營者對於所處競爭環境須有高度的靈敏度與機動性。 2. 資訊科技的運用可增加新「自創品牌」公司資訊的透明度與決策系統的正確性。 3. 新「自創品牌」公司正派的經營理念與形成的「品牌形象」與「企業形象」可獲得代工大廠的支持。 二﹑新「自創品牌」公司的「創新研發」與「行銷」之管理與運作為何？ 1. 新「自創品牌」公司內部「創新研發」機制是提升新「自創品牌」公司品牌知名度的關鍵。 2. 新「自創品牌」公司在「創新研發」的組織方面，會考慮藉由與異業的合作，以突破傳統的設計觀念。 3. 新「自創品牌」公司在選擇目標市場上，會鎖定利基市場與被忽略的市場，同時強調產品設計的「差異化」。 4. 集中於特定市場是擴張知名度是一較有效率的方法。 5. 新「自創品牌」公司初期階段會先以「創新研發」設計導向為主，當產品陸續被接受且市場擴大後，再轉為行銷導向。 6. 「自創品牌」公司基於產品價值的概念，其定價模式以「價值定價」而非一般傳統OEM廠商的成本加成定價。 7. 「產品品質」、「設計」與「服務體系」的整合對於新「自創品牌」公司品牌知名度與品牌認同的提升有很大的助益。 8. 新「自創品牌」公司的經營者品牌承諾的兌現，及品牌策略與產品定位的一致性，能獲得通路商及客戶的支持。 關鍵詞：營運策略，自創品牌，創新研發，行銷，差異化。 / Many small and medium-sized enterprises in Taiwan started to transform from conventional industries into high technology ones in the beginning of the 2000s, an era of transformation of the domestic industries in Taiwan. In recent years, the government also urges the private enterprises to establish their own brand . However, those that have transformed into new own brand manufacturers (OBMs) are few, and those successful even less. The study aims to explore the experience of a small and medium-sized enterprise that has transformed from a conventional industry into an own brand manufacturer. In addition to literature review and the collection of historical information of the company, the top executives and managers are interviewed in order to analyze the case and establish the theoretical framework. Furthermore, customer information and the sales performance over the past two years are collected to explore the influence of the competitive environment on adjustment of the business strategies of an OBM, and the company’s management and operation of the innovative research and development and marketing based on the adjustment. The conclusions drawn from the study are as following: 1. How does a new OBM dynamically adjust its business strategies to the keenly competitive environment of the industry? A. The CEO of a new OBM tends to show higher sensitivity and mobility to the competitive environment. B. The application of information technology enhances the transparency of the information of a new OBM and the accuracy of the decision-making system. C. The decent corporate ideology of a new OBM, its brand image and the corporate image are more likely to gain the support from the major original equipment manufacturers. 2. What is a new OBM’s management and operation of the innovative research and development and marketing? A. The innovative R&D mechanism of a new OBM is the key to the enhancement of its brand awareness. B. A new OBM may consider the inter-industry cooperation in order to make a breakthrough of traditional design concept. C. A new OBM may focus on niche markets and markets that are ignored, and put emphasis on the differentiation of product design simultaneously. D. Focusing on a certain market is a more efficient way to enhance brand awareness. E. A new OBM tends to adopt a design-oriented approach in the early stage, and consider turning to a customer-oriented or market-oriented approach when products are gradually accepted. F. A new OBM tends to adopt value pricing instead of traditional pricing. G. The integration of product quality, design and service system contributes a lot to the enhancement of brand awareness and brand identification. H. The fulfillment of the commitments of a brand by the manager of a new OBM and the consistency of brand strategy and product positioning are more likely to obtain the support from the distributors and the customers. Keywords: business strategy, own brand, innovative research and development, marketing, differentiation

自國際間的競爭愈來愈烈的狀況下，許多企業至國外設立子公司或分公司，以增加本身的競爭力，如何增加多國籍籍企業的競爭力以成為當今重要的議題之一。運用何種策略有助於企業的現行狀況，在策略的運用之下使企業得以發揮最大的功效。此策略對於未來的發展是否仍有功效，策略是否繼續延用，皆值得探討。 本研究方法為個案公司分析，閱讀其個案公司公開資料資料，主要包含公開資訊觀測站的公開資訊包含財務報表、公開說明書、年報、重大訊息等公開資訊，而相關的資料，包含產業資料、產業現況、產業發展等各項資料。透過個案具體列舉各項策略經營策略及對於個案對象之影響，以及可能衍生之各項議題，作為深入探討本研究主題之依據。 本研究之主要目的在探討多國籍企業之運用策略，包含該個案公司的產業特性及同業比較品牌定位優勢，如何運用策略完成企業預期的目標。本論文分析該個案公司以市場區隔策略以藍海策略作為發展，不拘泥於興建市場的區域，為個案公司開創新契機，至低成本國家設立子公司，執行低成本策略，以穩定個案公司獲利，致力於製程上及新品上研究發展，施行專業化策略，以差異化策略完成公司預期的目標，使得個案公司持續穩定獲利及業績向上成長，以支持運用策略之奏效。

農漁會組織長久以來於農業發展扮演重要角色，其促進農業生產，增進農民福祉與繁榮農村經濟，對台灣早期之經濟發展貢獻許多。隨著經濟結構的變動，農會信用部面對產業結構的轉變及其他金融機構的激烈競爭，致使其經營陷入困境，經過金融重建基金處理了36家經營不善信用部，宣佈分級管理措施，及12萬農民大遊行，政府為徹底解決信用部諸多問題，於93年1月實施農業金融法，建立由行政院農業委員會一元化管理之農業金融體系，經過一連串之改革，相關財務指標顯示信用部之經營已逐漸改善中。 本研究主要探討我國農業金融體制與信用部面臨的問題，並參考日本農業金融改革之經驗，提出健全我國農業金融體制與監理之建議。 研究發現，農業金融改革後信用部之經營確實在改善中。然而，在80年代農業金融危機下遺留的問題尚未完全克服。對於我國農業金融發展，本研究從組織面、業務面與監理面進行探討，提出改革建議包括：全面檢討修訂農會法與漁會法、儘速恢復股金制、建置合併法規鼓勵合併、儘速處理經營不善之信用部並建構多元退場機制、加強農業金融體系連結與加速資訊共用平台之整合、強化對全國農業金庫與信用部之監理、落實金融監理加強實地檢查與場外監控措施、導入差異化管理與立即糾正措施等，農業金融機構有必要繼續改革，以健全農業金融體系，保障存款人權益，促進農漁村經濟發展。 / The Farmers’ and Fishermen’s Associations played an important role in the field of agricultural production. They helped agriculture develop, increased farmers’ and fishermen’s welfare, flourished the countryside and contributed a lot to the early progress of Taiwan economy. With the transition of economic structure, the whole environment became quite disadvantageous to credit departments of farmers’ and fishermens’ associations, which face the changes of the industrial structure and fierce competition from other financial institutions. With the experiences of the settlement of 36 problem credit departments by the Financial Restructuring Fund, announcement of differential supervision scheme and demonstration of 120,000 agriculturists, the government implemented the Agricultural Finance Act on 30th January 2004 and built an integrated agricultural finance system governed by the Council of Agriculture (COA) to solve many problems of credit departments. Through those reformations, the financial index showed that the condition of these credit departments has improved gradually. This study aimed to discuss those difficulties that our agricultural finance system and credit departments encountered and bring up suggestions to complete this system and the government’s supervision referring to the reformation of agricultural finance system in Japan. What our study found is that the operation of credit departments has undoubtedly improved after taking reformations to agricultural finance system in Taiwan. However, problems that the agricultural finance crisis left behind in 1980s have not been completely conquered yet. As to the prospect of our agricultural finance system, from the aspects of organizational structures, business activities and government’s supervision, we suggest the reforms include to examine and amend both the Farmers’ Association Law and the Fishermen’s Association Law from stem to stern, re-enforce paid-in capital system with all speed, draw up laws to encourage mergers, deal with problem credit departments and build up plenty selections to help them exit as soon as possible, strengthen the connection of agricultural finance system and the integration of information sharing stations, intensify our supervision towards the Agricultural Bank of Taiwan and credit departments, reinforce on-the-spot examination and off-site monitoring, bring differential supervision scheme and prompt-corrective action into practice and so on. Hence, we may achieve the goal to complete the agricultural finance system, protect the rights of depositors and prosper the rural villages’ and fishing villages’ economy.

探討一家以利基產品為導向的網通公司，在利基產品的策略架構下以產品差異化爲起點，進而踏入行銷差異化、服務差異化並同時思考培養有別於技術與產品等硬體之外的軟實力推演出全球在地化的行銷策略以解決公司經營上面臨的困境讓公司有機會邁向永續經營的境界。

本研究是針對原產業成長期創業差異化階段的探索性研究。原產業成長期創業可定義為：創業者或團隊離開原來的事業後，在原產業的成長期，獨立創立了一個新事業。例如，華碩、雅姿舞蹈社（亞力山大的前身）都屬於原產業成長期創業。 由於創業開始後，新事業要做出產品，然後才能產生後續績效，因此依照時間軸可以將創業理論分解為：初始因素→新產品→創業績效。現有創業理論對原產業成長期創業現象並沒有提供完整的解答，但已得出的部份結果可以引導我們對此現象進一步聚焦。第一，新事業策略層次的研究已發現，新事業產品的差異性和稀少性顯著影響新事業績效。由於上述因果關係的後段已解決，因此指導我們探索前段的問題：什麼初始因素產生差異性產品？即應該聚焦到產品差異化階段研究。第二，過去創業者層次的研究已發現，以相同產業「工作年數」代替的「產業特殊經驗」顯著影響創業績效的高低。因為經驗是實務的知識，因此這類研究結果顯示知識是一項初始因素，值得進一步研究創業者的初始知識。第三，奧地利經濟學者和一些創業學者指出，創業機會是影響創業成敗的一項初始因素，但迄今沒有學者清楚地描述出創業機會的樣子和它對績效的影響。這些文獻顯示應進一步探索初始創業機會和它對產品差異化的影響。文獻已顯示創業者知識和創業機會是解釋產品差異化的初始因素，但二者下層的因素仍未充分揭露出來。由於過去的創業研究沒有聚焦在差異化階段，仍存在許多未解開的問題，因此本研究聚焦在原產業成長期創業的主要產品差異化階段進行研究。 對於本研究聚焦的現象，本研究問題為：在原產業成長期創業的差異化階段，哪些知識和機會構念下層的因素透過差異化過程產生產品屬性與競爭優勢？本研究的目的為：經由對此現象進行深入的探索，揭露出影響產品差異化的知識與機會的深層原因，建立整合知識與機會解釋產品差異化及利潤的理論。 本研究採用Eisenhardt(1989)描述的探索性個案研究方法，從個案研究建立理論。本研究針對原產業成長期創業現象，聚焦在主要產品差異化過程。總分析單位是在主要產品線層次。本研究接觸到3家原產業成長期創業廠商，取得了3個成功個案和1個失敗個案資料。資料收集包含訪問二位以上創業團隊成員、競爭廠商中的管理者和收集產業次級資料。 本研究經由分析四個個案的主要產品線資料，得出以下命題與發現。 命題一：產品有價值的差異程度愈大、產品稀少程度愈大、產品需求強度愈大，則產品競爭優勢程度愈大。 命題Ⅱ：若創業者的產業內通用知識強度小，則有產品競爭劣勢。 本研究發現，原產業成長期的創業機會為產業環境中存在的一種情境結構，本研究定義並命名為「創業機會結構」，它由以下項目構成：(1) 存在上游差異性新要素；(2) 存在下游市場需求；(3) 存在有利的競爭情勢，包含(a)既有競爭廠商數量小，(b)既有競爭廠商利用程度小，(c)潛在競爭廠商延遲行動；(4)存在功能互補廠商。 創業者知識與創業機會對於產品差異化的影響關係如下： 命題二：在創業者的產業內通用知識強度大的條件下，若創業者有異質的知識，或產業環境中存在創業機會，或二者都存在，則新事業可推出差異性與稀少性的產品。 命題二A：在創業者的產業內通用知識強度大的條件下，若創業者僅有產業內通用知識，且產業環境中存在創業機會，則新事業可推出差異性與稀少性的產品。 命題二B：在創業者的產業內通用知識強度大的條件下，若創業者僅有產業內通用知識，且產業環境中不存在創業機會，則新事業不能推出差異性與稀少性的產品。 命題二C：在創業者的產業內通用知識強度大的條件下，若創業者有異質知識，且產業環境中存在創業機會，則新事業可推出差異性與稀少性產品。 命題二D：在創業者的產業內通用知識強度大的條件下，若創業者有異質知識，且產業環境中不存在創業機會，則新事業可推出差異性與稀少性產品。 創業者異質知識屬性對產品屬性的影響關係如下： 命題三A：異質知識有價值的差異程度愈大，則產品有價值的差異程度愈大。 命題三B：異質知識稀少程度愈大，則產品稀少程度愈大。 命題三C：異質知識難以模仿程度，正向調節產品競爭優勢程度與產品利潤間的正向關係。 命題三：創業者知識的有利程度愈大，則產品利潤愈大。 創業機會結構中各項目的屬性程度對產品屬性的影響關係如下： 命題四A：要素有價值的差異程度愈大，則產品有價值的差異程度愈大。 命題四B：整體市場需求強度愈大，則產品需求強度愈大。 命題四Ca：既有競爭者的數量愈小，則產品稀少程度愈大。 命題四Cb：既有競爭者資源利用程度負向調節，整體市場需求強度與產品需求強度的正向關係。 命題四Cc：潛在競爭者行動延遲程度，正向調節產品競爭優勢程度與產品利潤的正向關係。 命題四：創業機會結構的有利程度愈大，則產品利潤愈大。 本研究對創業理論的貢獻包含以下幾方面。主要貢獻包含：第一，建立了整合理論。本研究在原產業成長期創業情境對交集現象，建立了以創業者知識、創業機會解釋產品差異化與利潤的整合理論。本研究針對創業最核心的差異化階段，建立了整合理論，使創業理論有了核心。第二，發現了創業機會結構。本研究經由探索發現了創業機會結構，描述出了創業機會的樣子，並分析清楚了構成它的項目對差異化相關的產品屬性和競爭優勢的影響。第三，橋接了創業與策略，引導二個領域的學者對話。本研究運用策略理論觀引導分析資料與建立理論的過程，因此本研究橋接了創業與策略，引導二個領域的學者對話。次要貢獻包含：第一，釐清了產品層次的構念和構面。第二，本研究以資源基礎觀引導，釐清了創業者知識下層的概念，並分析清楚了它們對產品屬性和競爭優勢的影響。 本研究建立的理論有實務含義，可以使產業成長期的潛在創業者（既有企業管理者）的策略思考更有效，因此對企業實務界人士有價值。概括而言，本研究對實務人士的啟示如下：(1)創業者擁有夠強的產業內經營知識是能夠創業成功的基本條件；(2)在產業內通用知識強的條件下，若創業者有異質知識或外部存在創業機會能使差異化成功，因此值得投入創業；若創業沒有異質知識及外部不存在創業機會，則創業者不應投入創業(3)本研究提出的創業機會結構，可以協助潛在創業者在創業決策階段辯認是否存在創業機會，避免創業時沒有機會或利用的不是創業機會。 / Starting new businesses in the growth stage of an industry is a special type of entrepreneurship as identified in this study. The same industry-growth stage entrepreneurship is defined as the following: after an entrepreneur (or entrepreneurial team) leaves a prior business, he/she then founds a new venture in the same industry which his prior work is in and is in the growth stage. The cases of ASUS(?) and Alexander are examples. The life of a start-up, as depicted by entrepreneurial studies, can be decomposed as: initial factors→product→performance. Current entrepreneurship studies have offered some answers to this phenomenon. First, studies have shown that a product’s extent of differentiation and rarity can predict performance. These findings prompt us to explore the question of which initial factors producing differentiated products (i.e., focusing on the product differentiation stage). Second, previous studies have found that an entrepreneur’s industry experience or industry-specific experience (using the years of work as a proxy) significantly affects performance. Because experience is a kind of knowledge, these results point out that knowledge can be regarded as an initial factor and thus it highlights the importance of exploring an entrepreneur’s knowledge. Third, Austrian economists point out that entrepreneurial opportunity is an initial factor and it influences entrepreneurial success. Up to now no studies illustrates the shape of entrepreneurial opportunities and explain how it influences entrepreneurial performance. Thus further exploration of entrepreneurial opportunities and how they affect product differentiation is needed. Although we already known an entrepreneur’s knowledge and entrepreneurial opportunity are major initial factors, we have no knowledge of lower level factors. Because the researches have not focused on the product differentiation stage, this research will concentrate on the product differentiation stage. The research question of the study is: in the differentiation stage of the same industry-growth stage start-ups, what lower level factors of knowledge and opportunity produce product competitive advantages? The objective of the research is: by identifying the lower factors, entrepreneurs’ knowledge and opportunities can be integrated into theories of entrepreneurship to explain product differentiation and profits. This research adopted the exploring theory building case study proposed by Eisenhardt (1989). The level of analysis was the main product line of a start-up. The data of three firms, in the form of 3 successful cases and 1 failed case, were collected. In addition to secondary data, at least two executives, either were founding team members or high-level managers, were interviewed for gathering the primary data. Through data analysis enable us to offer the following propositions: Proposition 1: The higher the levels of the value of product differentiation, product rarity and product demand intensity, the higher the product competitive advantage. Proposition Ⅱ: The lower the level of an entrepreneur’s industry-specific knowledge, the lower the product competitive advantage. We discovered that entrepreneurial opportunity is a specific situational structure in an industry. We termed it ‘entrepreneurial opportunity structure’. It is composed of four items: (1) the existence of upstream differentiated and new factors; (2) the existence of downstream market demands; (3) the existence of favorable competitive situation, including few competitors, less extent of action by competitors, late actions by competitors and more availability of complementary firms. Relationships among entrepreneurs’ knowledge, entrepreneurial opportunity, and product differentiation are indicated below. Proposition 2: When an entrepreneur has a high level of industry-specific knowledge, higher level of heterogeneous knowledge or the existence of an entrepreneurial opportunity (or both) makes it possible to launch a differentiated and rare product. Proposition 2A: When an entrepreneur has a high level of industry-specific knowledge, industry-specific knowledge, coupled with the existence of an entrepreneurial opportunity, makes it possible to launch a differentiated and rare product. Proposition 2B: When an entrepreneur has a high level of industry-specific knowledge, industry-specific knowledge, coupled with the non-existence of an entrepreneurial opportunity, makes it impossible to launch a differentiated and rare product. Proposition 2C: When an entrepreneur has a high level of industry-specific knowledge, higher level of heterogeneous knowledge and the existence of an entrepreneurial opportunity makes it possible to launch a differentiated and rare product. Proposition 2D: When an entrepreneur has a high level of industry-specific knowledge, higher level of heterogeneous knowledge and the non-existence of an entrepreneurial opportunity makes it possible to launch a differentiated and rare product. The relationship between heterogeneous knowledge and product attributes are listed below: Proposition 3A: The higher the value of heterogeneous knowledge, the higher the valuable difference of a product. Proposition 3B: The higher the rarity of heterogeneous knowledge, the higher the rarity of a product. Proposition 3C: The level of difficulty of imitation of heterogeneous knowledge moderates the positive relationship between product competitive advantage and product profit. Proposition 3: The higher the usefulness of an entrepreneur’s knowledge, the higher the product profit. The relationships between attributes of entrepreneurial opportunity structure and product attributes are listed below: Proposition 4A: The higher the valuable difference of a factor, the higher the valuable difference of a product. Proposition 4B: The higher the market demand intensity, the higher the product demand intensity. Proposition 4Ca: The less the number of competitors, the higher the rarity of a product. Proposition 4Cb: The degree of exploitation of resource by competitors negatively moderates the positive relationship between the market demand intensity and product demand intensity. Proposition 4Cc: The extent of delayed actions by competitors positively moderates the positive relationship between product competitive advantage and product profit. Proposition 4: The higher the potential of profitability of entrepreneurial opportunity structure, the higher the product profit. The major contributions of the research to entrepreneurship theories include the following: First, we built a integrated theory including entrepreneurs’ knowledge and entrepreneurial opportunities to explain product differentiation and profit. Because differentiation is the core to entrepreneurship, our integrated theory emphasizes the core of the theory. Second, this research identified entrepreneurial opportunity structure, and illustrated that entrepreneurial opportunity structure influences product attributes and competitive advantage. Entrepreneurial opportunity structure reflects the shape of entrepreneurial opportunity. Third, this research bridged entrepreneurship and strategy strategies, making the conversion between the two streams of research possible. Fourth, we clarified the construct and dimensions of product in start-ups. Lastly, we clarified the sub-constructs under entrepreneurs’ knowledge and their impact on product attributes and competitive advantage. The findings of the research have practical implications. It can make strategic thinking of potential entrepreneurs in the same industry-growth stage more effective. The implications are: (1) It is a necessary condition that an entrepreneur has enough industry-specific knowledge to be successful; (2) When an entrepreneur has a high level of industry-specific knowledge, if entrepreneur have heterogeneous knowledge or there is an entrepreneurial opportunity in industry environment, then differentiation can success, thus he worth to take entrepreneurial action. If entrepreneur have not heterogeneous knowledge and there is not an entrepreneurial opportunity, then he should not take entrepreneurial action; (3) Discovered entrepreneurial opportunity structure can help potential entrepreneur identify entrepreneurial opportunity in entrepreneurial decision stage, and avoid exploiting a non-entrepreneurial opportunity.

長久以來，國際化議題一直是實務界與學術界關心的重要焦點，對於小型開放經濟體的台灣而言，企業走向「國際化」更是必然的趨勢。國際化是否能為廠商帶來利潤？大部份的研究發現國際化確實有助於企業獲利的提昇，但亦有學者認為國際化為廠商所帶來的正面利益實屬有限，真正有助於提昇廠商績效的因素為廠商的「產品差異化能力」，甚至有學者更強烈地指出國際化與廠商績效的關係並不顯著，廠商本身所擁有的產品差異化能力才是最重要的獲利來源。 然而，相較於歐美大型多國企業，台灣企業規模相對較小，除國際化外，台灣企業擁有那些產品差異化能力可以提昇廠商的績效呢？雖然各方學者所持觀點不一，但其研究的範圍皆以西方已開發國家為關注焦點，顯少針對開發中國家加以研究。此不禁令人產生一些疑問：國際化是否也能為新興工業化國家的台灣企業帶來較佳的績效呢？若國際化不意謂著較佳的績效，那如此高度依賴海外市場的台灣企業該如何是好呢？ 此外，「管理能力」在廠商國際化的過程中所扮演的角色在過去研究中並未受到重視。然而，國際化程度的提高，並非對所有廠商在績效上皆能有正面的提昇，廠商必須在海外市場擴張的過程中，隨時調整其管理能力才得以能夠維持優良的廠商績效，此議題的瞭解，有助於對過去實證結果的分歧做更進一步的解釋。 針對上述研究問題，本研究回顧國際化程度、產品差異化能力，以及管理能力相關文獻，經由相關理論之推導，形成三個主要的研究命題，透過以台灣製造廠商為研究對象，同時以量化及質化的研究設計加以探討。 命題一與命題二分別以第三章564家大型製造廠商、第四章170公開上市資訊電子業、第五章3,194家中小型製造廠商、第六章601家中小型紡織業及818家中小型電子業，以及第七章1986年、1991年與1996年三期之大型 (275家，825個樣本) 及中小型 (322家，966個樣本) 製造廠商之長期追蹤資料加以驗證。經由不同廠商規模與產業，以及橫斷面與縱斷面的資料分析，得到國際化程度對廠商績效為一倒U型關係、產品差異化能力 (研發密集度) 對廠商績效為一正向的影響，亦即在研究一 (第三章) 至研究五 (第七章) 的結論發現，國際化程度與廠商績效的倒U型關係皆獲得支持，惟不同的樣本中，國際化程度與績效的最適點不同；產品差異化能力的部份僅於研發密集度與廠商績效的正向關係獲得支持，故支持本研究所提出之前兩項研究命題。 本研究根據量化研究倒U型之結果，分別在研究六 (第八章) 以一家非上市 (櫃) 小型手工具製造業、一家中型上櫃紡織業，以及一家大型上市電子業為研究對象，分析管理能力對國際化與廠商績效關係之影響，經由三家個案廠商的分析，亦傾向於支持管理能力對台灣製造廠商之國際化程度與績效的關係有一正向的調節效果。亦即廠商的管理能力可以調節 (moderate) 國際化與廠商績效的關係，在面對海外市場擴張所面臨的複雜度增加，廠商若能適時調整其管理能力，即使處於高度國際化的狀況，亦能保有優良的廠商績效；反之，若廠商之國際化程度仍未達國際化之最適點，但其管理能力始終沒有在海外市場擴張的過程中做適時的調整，亦有可能產生績效不佳的狀況。因此，支持本研究所提出的第三個研究命題。 整體而言，本論文於第三章至第七章量化研究獲得國際化程度與產品差異化能力對廠商績效一致的結果；透過第八章的質化研究，亦達成管理能力於國際化與廠商績效間關係的釐清。因此本論文的完成亦讓研究者對於台灣企業的國際化程度、產品差異化能力及管理能力，在影響廠商績效的議題上有更豐富的認識與瞭解。 / Internationalization has been the focus to the business and academic communities for years. Actively entering foreign markets for most firms in Taiwan, a small-opened economy, has become a must in the globalized economy. Does internationalization bring better performance for business? Most empirical studies found that internationalization increases firms’ benefits; however, some researchers argued that there are limited the benefits associated with firms’ internationalization. Furthermore, it has been suggested that there’s no significant relationship between internationalization and firm’s performance. That seemed a tendency for researchers to argue that “capability for product differentiation” is the key to profitability. Comparing with multinational corporations (MNCs) from western developed countries, the sizes of Taiwanese firms are much smaller. What kind of capabilities for product differentiation, in addition to the internationalization, could contribute to their performance? So far researchers have different views. On top of that, when excusing the issue, most studies still focused on firms, mostly MNCs, from the developed countries, few has looked into the behaviors of firms from developing countries. This study bridges this gap and proposes the following research questions: (1) Does internationalization affect performance firms from newly industrialized economies, such as Taiwan? (2) Besides internationalization, what characteristics of firms in Taiwan contribute to their performance? Managerial capability truly plays an important role in firms’ internationalization process; however, previous studies did not pay much attention on this construct. Also, higher levels of internationalization does not necessary bring positive impact on firms’ performance. To maintain better performance, firms need to adjust as well as adapt their managerial capabilities during their foreign market expansion process. Understanding the relationship between managerial capability and international expansion helps us to shed new light on the inconsistency findings of past empirical studies. Thus, the third research question tries to understand the moderating role of managerial capability on the relationship between internationalization and firms’ performance. The study reviews related literatures on internationalization, capability for product differentiation, and managerial capability in terms of above mentioned research questions. After deriving three main research propositions, this study employs both quantitative and qualitative research designs to answer the research questions by taking Taiwanese manufacture firms as research samples. For the purpose of triangulation, this study examines propositions 1 and 2 by different sample profiles including cross-sectional and longitudinal data. They are: (1) 564 large manufacture firms (chapter 3); (2) 170 Taiwan Stock Exchange Market listed electronics firms (chapter 4); (3) 3,194 small and medium-sized enterprises (chapter 5); (4) 601 small and medium-sized textile firms and 818 small and medium-sized electronics firms (chapter 6), and (5) 275 (825 observations) large and 322 (966 observations) small and medium-sized firms for three periods (i.e., 1986, 1991, and 1996) (chapter 7). The first two main findings are: (1) the relationship between internationalization and performance could be graphically depicted as an inverted U-shaped curve, and (2) a positive relationship between capability for product differentiation in terms of R&D intensity and performance regardless of firm size and industry. Thus, our findings support the first two propositions. According to the U-shaped result of quantitative analysis, this study explores the relationship among managerial capability, internationalization, and performance by conducting three in-depth company interviews. The firms, including an unlisted hand tool firm, a medium-sized OTC textile firm, and one large listed electronics firm, represent a mix of companies. The third main findings tend to support that managerial capability has a positive moderating effect between internationalization and performance. If firms could adapt or adjust their managerial capabilities to handle the complexity during their foreign market expansion process at the right timing, they could still enjoy better performance with higher levels of internationalization. On the contrary, the complexity associated with high-level of internationalization will burn out the managers and eventually lead to poor performance. Thus, the result supports the third proposition. In summary, on the one hand, the study confirms the relationship among internationalization, capability for product differentiation, and firm’s performance through quantitative analyses in chapters 3 to 7. This study also identifies the moderating effect of managerial capability on the relationship between internationalization and firm’s performance through a qualitative analysis in chapter 8. Theoretically speaking, this dissertation provides better understanding on the relationship among internationalization, capability for product differentiation, managerial capability, and performance of Taiwanese firms.

C公司係台灣少數有能力以統包商角色進軍國際工程市場之工程公司，然在國際化經營發展過程中，C公司對本身在這個產業的定位是什麼？C公司的核心價值在哪裡？C公司的競爭策略有何優勢？C公司如何改變體質以迎接新世紀的挑戰？C公司如何為股東創造最大的價值？本研究以企業評價(Valuation)及價值創造(Value Creation)為主軸，檢驗C公司本身體質並探討未來經營策略可行之方案。 本研究針對C公司過去五年的財務資訊分析各項影響企業價值之因子，先評析C公司各項價值因子之優劣勢，判斷C公司目前之價值定位，再採用現金流量折現法評估股價並做敏感度分析，認為影響C公司企業價值之關鍵因子，其重要性依序為營業利潤率、營收成長率、競爭優勢期間、加權平均資金成本、營運資金投資、固定資產投資及現金稅率；根據這些關鍵價值因子，本研究建議C公司未來之營運策略、投資策略及融資策略之擬定應以價值創造為原則，可採行之方向歸納如下： 一、為了創造價值，個案公司之經營策略應朝產品定位與差異化方向發展。 二、短期以改善營業利潤率為首要目標，加強成本控管，改善盈餘品質。 三、把握國際工程景氣循環高點所帶來之商機，適度提升營收成長率。 四、為維繫競爭優勢期間，長期應從成本領導策略轉化為差異化策略，以此衍生創造差異化之購併策略及多角化策略。 五、購併策略以垂直整合優先於水平整合。 六、為降低加權平均資金成本，融資策略在不違反對銀行之財務承諾前提下，適度提高財務槓桿，維持最適資本結構。 七、加強在建工程與固定資產管理、儘量減少固定資產投資、處分非核心事業，並以不失去控制權原則引進外來資本擴張前景看好之關係企業。 八、財務構面的績效衡量指標應以現金流量為主要評量基礎，指標之設計以成長性為重點。

企業社會責任已經是現今社會中不可輕視的企業議題，各種評等機構也紛紛開始針對個別企業的社會績效進行量化的評估與排名。本研究的主題即為企業社會績效的決定因素，並依據先前研究而選出規模、國際化程度、差異化策略程度、CEO的功能背景、並且加上本研究自選出企業社會責任的競爭強度為第五個變數來解釋不同企業之間其企業社會績效的差異，以求實證研究的結果。為求有意義的研究議題、以及避免變數資料收集上的偏誤，研究界說範圍乃為美國的製造業公司。 / 研究樣本群有兩個，分別為2007、2008年由CRO雜誌公佈的「百大最佳企業公民」名單中的製造業公司。依其名單中的個別公司的平均分數作為企業社會績效，並以SPSS 8.0軟體進行相關假說的驗證。 / 研究結果證實，企業規模在兩個年度的模型中都得到實證，確定規模愈大的公司其企業社會績效也會比較好。而國際化程度、CEO外部導向的功能背景、及企業社會責任的競爭強度則在2008年模型中得到證實其與企業社會績效的正向關係。最後，企業追隨差異化策略的程度與企業社會績效的正向關係則在2007年模型下得到實證支持。根據以上結果，本研究亦藉由提出兩個年度模型的差異，來推導可能的成因。

本研究將探討已處於穩定發展階段的個案企業，如何在競爭環境中設計定位出與製造服務業之客製化策略互相配合的策略，有效地將營運策略、擴大企業實力與規模經濟相互整合，從而尋求提高技術水準、工人素質、產品品質的有效途徑。本研究將做出整合企業內部核心競爭力的分析、競爭優勢在產品市場的表現、競爭劣勢、機會與威脅的分析比較，並篩選與執行適合本個案公司特色的營運策略，從而取得競爭優勢，獲得經營業績。 本研究從個案公司內外部競爭優劣勢分析及企業現階段的發展特色之中，篩選出與企業自身發展相配合的差異化策略，即客戶服務的差異化，使個案公司能比競爭對手更有效率地為買方提供更有附加價值的差異化產品、能夠有效做出產品品質的差異化、能將知識管理與人力資源管理有效地整合在一起，而使得人力資源管理成為了真正“策略管理”的核心，從而有效形成與營運策略互相吻合的動態組織結構。 本研究首先從三個維度（策略維度、文化維度、學習和創新維度），系統地對公司內部管理情況加以深入地分析，來研究所亟須解決的重要問題。本研究從策略維度研究企業的策略目標、組織結構、內部工作流程、內部資訊溝通、人力資源的開發與評估以及公司的制度建構；從文化維度來研究企業核心價值觀的確立，並運用深層思維的價值觀來打造企業不敗的竅門；從學習和創新的維度來研究建構出學習型組織對企業營運的重要意義。 本研究之重點由個案公司簡介及個案研究與分析所組成。個案公司簡介部分描述了致綺國際有限公司成立二十多年來的公司沿革、經營理念、公司定位、公司策略、策略執行、公司組織架構、 深圳公司組織架構、主要產品、美国BERGQUIST產品、主要客户、生產能力、銷售額、品質政策、品質目標、绝缘片產品作業流程、導熱片產品作業流程、品質控制流程圖、個案公司之終極學習標的:Brady公司簡介與經營歷程及經營績效，其中重點介紹了致勝深圳電器配件廠的經營方式與管理改善計劃。 個案公司簡介主要分四部分來加以闡述:一、致綺國際有限公司之公司沿革簡介，包括致綺國際有限公司各地公司之分佈及公司組織架構，致綺國際有限公司所生產之主要產品類別及銷售額等。二、深圳致勝電器配件廠組織架構之介紹。三、深圳致勝電器配件廠之生產系統及管理。四、從銷售情形、庫存狀況、毛利率及競爭優勢等構面闡述了致綺國際有限公司最近之營運績效。 個案研究與分析部分主要從管理持續改善的全方位角度，分析了致綺國際有限公司未來經營成功的關鍵性績效指標(Key Performance Index,KPI)如下:一、提升工程作業能力，以主動、迅速、正確，服務內外部客戶。二、持續提升生產效率，以正確（Q）、低成本（C）、迅速（D）之優勢來滿足客戶的需求。三、強化組織架構權責、人員培訓體系，以建立優質人力資源。四、強化資材供應與管理能力，以適質、適量、適價優勢提升競爭力。五、精實品質管理系統，以降低客戶抱怨。六、員工生活品質優化，以降低員工流動率。七、提高核心競爭優勢。八、強化企業文化與價值。九、強化企業領導模式。十、 強化產品資訊與客戶支援解決方案。十一、強化個案公司之市場目標。十二、有效強化管理、彈性應變與工程執行能力。十三、以客為尊，提高客戶滿意度，策略方向聚焦與定位於行銷服務業。十四、高素質的材料有效地支援了產品、元件及其他資產。十五、確保運用適當的員工，適時適地來強化安全性。十六、緊縮與裁撤不必要之間接部門，全面緊縮成本。十七、聚焦於利基市場及新產品，重新定位利基策略。十八、將公司的總管理處、研發設計、業務、財務儘量維持駐在地深圳。 / This thesis analyzes the corporate strategy of the case company Everfame International Co., Ltd, which becomes customized at a steady development stage gradually .How to propose a good corporate strategy according to the competitive environment and the company’s real status is the first priority of the case company. The key point is how to improve the quality level of the technology and production. It thoroughly is a critical issue for combining corporation strategy with building up the strength of the case company. This article combines company’s internal core competitiveness. It contains competitive strength、 competitive weakness、 opportunities and threats. The suitable strategy must be adaptive to the company’s real characteristic and strengthen to improve the company’s operational performance. A differentiation strategy is focused on the development of a product or service that offers unique attributes that are valued by customers, and the customers perceive to be better and different from the products of the competitive rivals. The value added by the uniqueness of the product may allow the case company to charge a premium price for it. The case company expects that the higher price will be more than covering the extra costs incurred in offering the unique product and service. Therefore, Using the above core competency, The case company can combine the unique domain knowledge and excellent human resource management to construct a dynamic and flexible organization , and focused on catching up the economic scale of their ultimate target: rolemodel company Brady as the long term visional mindset of The case company.