摘要 核心能力往往是企業在競爭激烈的商場中賴以生存之憑藉，然而環境變動程度劇烈使得各企業固有之核心能力面臨挑戰，學界紛以提出核心能力僵化、核心能力無效論來解釋此一現象。近來台商赴大陸投資之熱潮，從媒體工作者不斷提出不同標題如「該西進，亦或是上進」可見一斑。然而台商在台灣賴以競爭之核心能力，移轉至大陸後仍能保持其競爭優勢嗎？或是僅需因地制宜而稍加改變後，仍能發揮其效果？ 動態能力說由核心能力說演化而來，而因應環境之改變而迅速調整自身之核心能力乃動態能力說最為強調且關切者。而探討能力移轉模式的學說甚多，但多是考慮因應政治法律、社會文化、經濟，以及教育等因素而選擇不同的模式移轉。而對於經營知識因應環境的修正，本研究將調整方式分為「本質」的調整與「程序」的調整來作為區分其調整經營知識之依據。 本研究依據文獻整理之結論，以核心能力觀點與環境、時間變數提出動態能力之新定義。本研究認為，在母國企業的核心能力，因為母國企業至地主國設廠或合資，使得核心能力至地主國需要調整與修正，而造成核心能力的組成與發展都可能有所不同。此種因應環境而不斷改變組織之核心能力的過程，即為「動態能力」的概念。此種定義與過往學者所強調之不同在於時間變數之加入，能夠清楚看出過去之核心能力與修正後之核心能力其動態變化的過程，以補過往學者僅探討單一時點核心能力之不足。本研究以前往大陸投資之台商為個案探討對象，共計五個個案。個案進行之程序從該公司前往大陸投資之目的為起始，進而找出其在台灣之核心能力。而後，由能力移轉至大陸時，所需因應當地環境等因素之不同而修改的能力有若干、程度為何著手。最末者，將各公司因應當地環境所需新創之能力作一描述與探討。 本研究所探討之個案公司所前往大陸之目的幾乎都以成本為首要考量，其次以市場因素而前往投資者亦不在少數。分析各個案研究公司後，有以下命題：所欲移轉核心能力之技術知識複雜度、內隱程度愈高，能力移轉模式愈傾向直接投資。母公司對於投資之地主國公司所有權擁有程度愈高，能力移轉程度愈高。台商所前往地主國環境愈複雜、條件因素愈弱，以及地主國公司目標差異與母公司愈大者，該企業能力移轉修正與新創能力之程度愈高。地主國之生產條件因素愈差、支援與相關產業表現愈差、地主國對產品需求本質與母國差異愈大、地主國企業策略、結構，以及競爭狀態與母國差異愈大，能力移轉修正程度愈大。企業愈傾向內銷市場導向，需要在地主國創造新能力的傾向愈強。此外，本研究亦發現，企業因其處於產業價值鏈上位置之不同，將因而影響其前往地主國投資之動機。 本研究所提出之動態能力觀點，不僅適用於學術上之研究，亦能給予產業界些許建議。第一，由母國移往地主國之移轉模式是否與該企業核心能力之技術特質相對應。第二，對於地主國企業之所有權擁有程度是否與移轉模式之選擇相對應。第三，欲前往之區域其鑽石體系是否能提供該企業未來策略擬定之支持。第四，內銷導向之企業，對於法令之知曉程度需較外銷導向之企業靈通。第五，瞭解自身處於產業價值鏈之位置，並且對於企業本身所能提供之價值單元做一界定，使得赴大陸投資之動機與核心能力相互呼應與搭配。此外，本研究亦對後續研究之學者提出部分建議。第一，往後可針對企業單一核心能力（如生產能力）作動態能力之分析，可收專精且深入之效。第二，未來研究學者可接續探討能力移轉後，對地主國產業或企業之擴散效應。第三，研究可始自核心能力在母國之形成與背後之原因，如此可與移轉後能力需修正之原因相互對應，或許所研究出之成果，更值得產業界作為赴大陸投資前之參考。 / Abstract Core capabilities are the basic elements by which an enterprise could survive in the competitive business field. However, the violent variation of the environment makes the innate core capabilities of the enterprise face the challenge. Therefore, the academic community proposes “rigidity core capabilities” and “invalidity of core capabilities” to explain why the enterprises’ inability to face the variation of environment would occur. Nowadays, it has been a fever that more and more Taiwan’s entrepreneurs invest in Mainland China. The trend is also definitely revealed by the headline of the magazine such as “should we move westward to Mainland China or go forward by ourselves rooting in Taiwan?” Could core capabilities, which the enterprises implement in Taiwan, still sustain competitive advantages when transferring in Mainland China while transferred into local branches in Mainland China? Or is it possible that core capabilities may be transferred slightly to suit the measure to local conditions and could become more effective in the new region. The theorem of dynamic capabilities, evolving from core capabilities, highly emphasizes and deeply concerns that the ability of adjusting capabilities to fit in the variation of the environment. There are lots of debates over the capabilities transferring models, which is based on differences of the political, social, cultural, and educational factors. In an attempt to clarifying the modification path of business knowledge, this research adopts two business knowledge adjusting methods: nature modification and process modification. Basing on scholars’ concerning research documents, this research generates the new definition of dynamic capabilities: core capabilities, environment variations, and time variables. In this research, originally-existed core capabilities, with corporations investing in or joint ventures in the host countries, will be modified to adjusting into current circumstances. This process, which modified core capabilities of the organization to adopt different environments, is so-called “dynamic capabilities”. This definition could find out the process of the dynamic variation, which is from core capabilities in the past to modified ones. This research discusses those who invest in Mainland China and there are 5 cases totally. The analytic process of these cases is in a logical way. Starting from finding out the objective of investing in Mainland China and then look for theirs’ core capabilities in Taiwan. When transferring capabilities to Mainland China, Taiwan enterprises’ modified capabilities for fitting into the different environments would be found out. The last part, capabilities created for local conditions would be described and discussed. The objective of the 5 cases in this research all concerns about the cost and market issues. After analyzing these companies, we could obtain the proposition: if the complexity of technical knowledge of transferring core capabilities is higher, the tendency of transferring model would be direct investment; if the ownership of the investing company is higher, the level of transferring capabilities would be higher; if the environment of host country is more complex, the level of capabilities modified and created would be higher; if the performance of supporting and related industry is worse, the level of capabilities modified would be higher. Besides, the different places on the industry value chain would affect the objective of investing in host country. The dynamic capabilities perspective proposed by this research not only suits for academic community, but also could give some suggestion for industrial circles. First of all, is the transferring model highly related to the technical characteristic of core capabilities? Secondly, is the level of ownership of host enterprise highly related to transferring model? Thirdly, does the supporting and related industry of that area support enterprise’s future strategy? Fourthly, enterprises selling in the host country should learn more about the legal issues than exporting enterprises. Fifthly, to understand which place enterprises themselves are in the industry value chain and which value unit they could offer to fit in the objective of investing in Mainland China. Besides, this research also proposes some suggestion for future scholars. Firstly, they could analyze dynamic capabilities for the single core capability, such as production capabilities which are usually competitive advantages of Taiwan enterprises. Secondly, diffusing effect for host industry after capabilities transferring could be discussed. Thirdly, future researches could start from finding out the forming reason of core capabilities and then compare to the objective of investing in Mainland China. Therefore, the result would be more practical for Taiwan enterprises’ reference before investing in Mainland China.

一群來自各個不同領域，且志同道合的朋友們，看到了一個可能可以成功的機會，大家一起投入屬於這個機會的電腦散熱模組產業，成立了一家具備專業技術能力的電腦散熱模組加工廠，希望成功的攫取這個產業的機會。 電腦及其週邊產業相較於其它產業，因為有著很大的市場且還有成長的空間，確實有著許多可以成功的創業機會，因而對有心創業人士產生極大的誘因。但如同其它創業機會一樣，成功是一個機會、一種可能，成功的另一面就是失敗的風險。本文的個案公司，由一群志同道合的朋友，具有共同認知創立的新事業，以行動去實現可能可以成功的機會，並於創立之初，選擇以本身已知具備優於同業的核心能力~設備、製造、工程、品質等，為進入電腦散熱器及散熱模組產業的基礎，並以代工或加工製造（OEM）的基本定位循序漸進的執行其創業計劃，並意圖逐步提升企業層級與規模，在一段時間內完成階段性的目標，最後，個案公司發展的目標為何？需要那些資源才能持續發展？可能結果又如何？這些都是本文探討的核心，或許以另一種角度觀之，一個新創事業投入一個商機無限的產業，面對各種可能存在的風險或產業環境的變動，該如何作才能獲得成功？由個案公司的創業計劃、已運作一年餘的成績，來研究、探討，檢視其已有的成果與缺失，及其在產業發展的前途與未來面對各種可能變數時所需要的支援、資源與應對方案，如此，非但能了解一個新創事業，未來應如何在龐大無序的電腦產業中，成長、壯大，以至成功的可能模式，當然也可以探討出這個新創事業，階段性成長可能面臨的風險、問題與解決方案，從而由以上資料繪出個案公司未來經營發展的藍圖與可能的經營模式。

The “Trust to Invest in Early Stage Businesses” is a government project based in a public bank of Paraguay. This “Trust” aims to become the first and the best landmark of “Angel Investor” to foster entrepreneurial culture and help in the development of the stock market and the economy of the country. There is no similar fund in the market, therefore there is no regulation about this type of investment; as a consequence, the “Trust” will start to work with the institutions in charge to establish the basis for this new industry. The special purpose of the “Trust” is to target the most vulnerable of the businesses, the seed and the start-up stages. Those segments are not covered by the banks or any other financial institution. This project is an opportunity for the government to foster the “Inclusive Economic Growth” that is one of the pillars of the “National Development Plan 2014-2030” because start-ups maybe are small companies but they can play a significant role in the economic growth. I believe that the “Trust” will receive back his investment with profit, so, there will be more money to invest in early stage businesses and the cycle will continue.

近年有關台灣中小企業的[新創]概念與實行蓬勃發展，是我國經濟發展的嶄新驅動力。從零開始的創業打拼過程，再再充分展現我國創業者的活力與韌性，更代表了島國台灣的強大不服輸的精神。世界經濟的發展和科技的演變，使創業模式更加多元化，然而面對國際競爭日趨激烈的經貿競爭環境，使得創業的挑戰更勝以往，尤其是中小企業要如何生存以及如何以小搏大，而能夠立足台灣放眼國際 ? 已是創新與創業最不可忽略的關鍵因素之一。 創新與創業是經濟進步的重要動力一環，若要激發創新與創業的能量與速度，則與創業所在地的經濟環境息息相關。現有國內的新創事業似乎多著眼於"產品"方面的創新，較少發展出市場經營"模式"的創新。學生相信這與台灣過去以製造業為主之特殊的產業型態有很大的關係，但未來若新創事業能夠多朝向[服務業多元化]、[產品製造業服務化]、[服務業科技化]等新興產業的模式，更需要的是對於市場、服務的創新。因此，本論文希望重商業模式的探討與新創服務業之個案研究，來探討服務業的商業模式與價值創造等議題，應有助於瞭解此一現象，並提供參考。 如何做到最成功最賺錢的”小企業”。 理論上這一個小企業通常是結合較低的開銷和啟動成本再加上特殊專業的技能和十足的運氣。以下本文所討論到的新創產業故事， 將深入剖析固中成功元素的關鍵 。 由於日益全球化和自由化的經濟大環境，使得21世紀的商業市場變得更具競爭性以及透明性。 再加上競爭威脅的經濟脆弱性不斷迫使小型商業 機構要加速垂直整合或合併以便提高自身的能力、效率和競爭力。 另外我們將討論到小企業如何在競爭的環境裡突破，那麼他們在經營的策略上可能必須要有何種[創新能力]以及[破壞力] ? ,唯有強大的[破壞力]才能夠在大型競爭對手環伺的情況下突圍並且迅速在極短的時間內攻城掠地。 中小型企業在經營的時候多半偏向於只思考如何跟平行的同業競爭而忽略了自己真正能夠生存的最重要條件 : 應該是思考在客戶面前的 "最佳被利用價值" ?! 也唯有提供客戶不同於競爭對手的更佳"被利用價值" 藉由客戶的提攜以及賞識才能夠讓新創或者小型企業迅速的成就交易，如果能夠不斷的站在客戶的立場提供專屬於每一個客戶需要的服務，那麼在一次一次的交易之後自然而然新創企業的地位與重要性迅速的被提升，最後至於同行之間的競爭問題也無需再多做過份的擔憂。 最後本論文的重點裡面也會討論到如何將本業創新經營的模式直接引用到其他行業、品項的可行性 ? 假使轉移性高且能夠得到成功 ,那麼表示這一個經營模式是可以被大部分的行業所利用 ,對一個生活在丸爾小島的台灣的我們而言 ,我們一直缺乏各式天然資源 ,因此如果能夠在世界產業鏈裡利用特殊的新創服務來介入國際貿易 ,並爭取到較好的收入 ,想必更值得讀者們參考與沈思。

網際網路與行動運算興起改變了人類的消費行為模式，消費者/顧客因為科技的進步而更方便、更願意分享其使用的經驗與意見，並且在價值加值過程中的角色也起了變化，顧客與企業藉由共同生產而創造更多的價值。在競爭激烈的旅遊市場中，強調旅遊體驗訴求的深度旅遊業亦受到了很大的衝擊。本研究探討深度旅遊之價值共創的方法與價值內涵，並以趣吧旅行社為深入個案研究的對象，所得到的主要研究結論如下： 結論一、深度旅遊業者之員工的觀察力和人文素養越高，則其所設計與開發的商品，越能凸顯深度旅遊的特性與價值。 結論二、深度旅遊業者之顧客，若越符合業者定義之目標客群，則越能夠在深度旅遊之中獲得新知、感受、與自我提升。 結論三、深度旅遊業者透過事前期望服務與實際感受服務的管理，建立共創價值。 結論四、深度旅遊業者在與顧客共創價值時，會善用達人做為重要的互動介面，並以顧客與達人間的旅遊體驗做為其提升共創價值的基礎。 結論五、深度旅遊業者會透過有效的風險告知與危機處理機制來提升顧客的實際服務感受。 / Internet service and mobile computing changing the patterns of the consumer behavior. Consumer or customer are more willing to share their experiences and opinions because of advances in technology, and their role in value-adding process has changed. Customers and enterprises create more value by co-production. In the highly competitive tourism market, emphasizing the depth of travel experience demands of tourism has also been a great impact. This study explores the value of in-depth tourism and the connotation of value co-creation; and study the case of Tripbaa on-line travel agency. The main conclusions are as follows: 1.The deeper the observation and the humanistic accomplishment of the employees of the in-depth travel industry, the more services they design and develop can highlight the characteristics and value of in-depth travel. 2.In-depth tourism customers, if more in line with industry-defined target customer base, the more able to get new knowledge, experience, and ego-enhancement. 3.In-depth travel agency create value through the expectations of the service and the actual experience of service management. 4.In value co-creation, travel agency will make good use of experts as an important interactive interface, and enhance the value which created by travel experience of customers and travel experts. 5.In-depth travel agency will be through effective risk notification and crisis management mechanism to enhance the customer's actual service experience.

本研究旨在藉由Brandenburge & Nalebuff (1995)的『價值網絡』(Value Net)模型來探討企業之新創事業如何在所屬的『價值網絡』中，依其策略性定位採取與同一網絡中的其他價值競逐者或合作或競爭的合縱連橫，以遂行其為事業創造顧客價值之目的。 企業在其所屬事業的『價值網絡』中，或藉由靈活地調整自身策略定位，或藉由提昇自己的附加價值、壓抑對手的附加價值，或藉由改變競爭規則、競爭範疇等，以形塑其事業的競爭優勢。 研究發現，新創事業即使在『價值網絡』中具有相對於其它競爭者更不對稱的優勢，若無法為事業創造高於所投入成本的價值，並將所獲得的價值價格化，則所具備的是不具價值的優勢。亦即，新創事業若無獲利能力，則再好的事業構想、再好的商業模式，也無助於新創事業的超越失敗。 企業對於已難以超越失敗的新創事業之進退所採取的策略選擇，固然會受到客觀的退出障礙及理性的策略性考量影響；但，企業對於所屬事業前景的主觀看法及經營者的心理素質更會左右對事業殘局的評估及其因應策略的選擇。 經營具充滿不確定性風險的新創事業並非參加一場僅是一次行動的比賽。因此，企業除了要熟稔其事業在『價值網絡』的定位、靈活運用各項要素以遂行其創造顧客價值的優勢外；對於不如預期之新創事業，更應理性地面對事實及客觀地評估與選擇或進或退之策略，避免因無謂的資源消耗而陷入僵局；也避色因陷入僵局而使得企業失却其它再興的新局！

本研究之主旨在探討一般新創公司在創業前期及創業後期所面臨的經營管理問題與對策，給有心創業者作為參考，以降低失敗的風險，進而能一舉成功，避免傷及創業之鬥志與勇氣，減少財務的損失。 首先藉由文獻的整理，蒐集專家及學者之菁華，找出與創業有關的學理，再將學理套於個案公司之經營管理，深入暸解創業成敗之關鍵因素，從實務中發掘學理之依據，進而整理出成功的創業模式，得以印證學理之正確性，讓有志於創業者加強對文獻之信心與認同。 本研究之個案雖屬高科技公司，但經過學理之印證後，可發現其經營管理之方法也離不開文獻之範疇，主要是採用Timmons及 Shane之創業模式來加以剖析，雖然研究者將Timmons之模式運用於創業前期，而將Shane之模式運用於創業後期，或許有些牽強，但目的是為了方便敘述，好讓讀者容易理解。 針對本研究之主要問題可區分為下列兩期，將籌備到創業後三年歸納為創業前期，第四到十五年則歸納為創業後期，雖然期間有點太長，但經營者自認為規模還小，仍應秉著創業期之衝勁追求更完美： 一、 新創公司創業前期的管理作法為何? 二、 新創公司創業後期的管理作法為何? 從本研究中可獲得以下之主要結論: 一、 新創公司在創業前期會善用其核心能耐以尋找商機，同時以外部資源取用補足內部資源及能力之不足，並加強創業團隊成員之專長互補與共識，提高創業成功的機會。 二、 新創公司在創業後期之技術管理上會著重利基性及差異性之思維，在行銷管理上會以客戶需求為導向，在組織管理上則會特別重視風險管理並適時網羅人才以增強組織的陣容，並以創新來提高報酬。 / The newly start-up company will face the different management difficulties during the starting period. The study distinguished the start-up period into Earlier Period of the Start-up and the Later Period of the Start-up. The selecting company of the thesis is classified as the high-tech industry. We use the Timmons Model to analyze the Earlier Period of the Start-up, and use the Model of Scott A. Shane to analyze the Later Period of the Start-up. The main research questions of the thesis are : 1. What’s the right management method in the Earlier Period of the Start-up Company? 2. What’s the right management method in the Later Period of the Start-up Company? The conclusions of the research are： 1. In the Earlier Period, the company must (1) make a good use of its core competency to catch the good chance, (2) use the external resources to strengthen the lack of the internal resources or capability, (3) strengthen and increases the complementarity of the abilities of the start-up entrepreneurial team. 2. In the Later Period, the company must (1) focus on the niche market and attach importance to the differentiation on the Technology Management issue, (2) take the customer demand-oriented method as the principal on the Marketing Management issue, (3) pay attention to the risk management, recruit the talented person or team on the Organizational Management issue.

絕大多數在台灣的企業屬於年輕的中小企業，他們所熟知的商業模式是生產代工，並無技術與市場的不確定性問題。如何從生產代工的商業模式跳躍到美國新創公司的知識經濟模式實在是一個對雙方都是很大的挑戰。由於雙方的不對稱性太大有必要讓其它人界入並彌補中間落差。開放式創新中需要技術仲介聯結買方與賣方。而技術仲介則是辦識(破壞式)創新機會的來源之一。在維興國際公司目前所專注的四個不同技術中，同時包括B2B及B2C的產品領域。但無論是B2B及B2C，市場拉力與技術推力在技術仲介的領域中均同樣必須受到重視。 本研究由相關文獻探討，推展出以(買方)目標工業的選擇與管理、(賣方)管理並降低市場的不確定性、技術仲介的需求缺口三構面的研究架構來探討技術仲介業在美國新創公司的技術仲介服務活動的關鍵因素與管理項目。本研究採用個案研究法深入訪談個案公司的高階主管以了解其新創過程的實務作為。由個案分析與研究發現得出研究結論如下： 結論一：成功的技術仲介業對技術賣方的選擇與管理應考慮(1)新創公司生態(2)新創公司的動態管理(3)新創公司的選擇(4)新創公司的管理。 結論二：成功的技術仲介業對技術買方的管理應考慮到(1)社會氛圍與使用者的認知(2)使用者的吸收能力(3)創新與使用(4)降低技術與市場的不確定性。 結論三：技術仲介的成功因素包括(1)技術仲介的加值能耐(2)技術仲介的承諾(3)專利/技術加值增加原供應商的仰賴(4)經營策略的創新與新事業開發。 結論四：技術仲介屬於知識管理的一環，在開放式創新中需要技術仲介聯結買方與賣方。而技術仲介則是辦識(破壞式)創新機會的來源之一。 結論五：台灣目前的技術服務業的主導者是以工研院技轉中心為主要的供需中心，輔以少數私人的智財買賣。 結論六：全世界都在鼓勵創新，國家的競爭力表現於創新與創業教育的養成。 / Most companies in Taiwan are belong to young SMEs, their business model is known for everybody and mainly the foundry model, there is no technology and market uncertainties. It is indeed a great challenge from the production foundry jumping into the knowledge based US startups. Since the dissymmetry from both sides are huge there exist a need for others to bridge the gap. Technology broker links buyer and seller in the area of open innovation. It is also one of the sources of innovation opportunities. WH International currently focused on four different technologies, including both B2B and B2C products. But whether it is B2B and B2C, market pull and technology push in the field of technology brokers are also to be taken seriously. From the related literatures survey, based on a technology transfer company, this study is to promote the technology sales (the seller) and management of technology uncertainty, to help (the seller) to manage and reduce market uncertainty, to meet market demands of the technology broker, and compose the three dimensions of framework: the seller, the buyer and the broker. This research adopts case study method to analyze the practice of the case company. The research results are as below. 1. The selection factors of a successful technology broker facing technology vendor should consider (1) ecosystem of start ups (2) the dynamic management of start ups (3) the choice of start ups (4) the management of start ups. 2. The management of technology buyers from a successful broker should take into consideration of(1) the user's cognitive and social atmosphere (2) the absorptive capacity of users (3) innovation and the diffusion (4) reduce uncertainty of market. 3. The successful factors for technology broker include (1) the value-added capability (2) the commitment to technology (3) patents / technology development to increase value-added services to suppliers (4) innovation of business strategy and new business development. 4. Technical brokering is a part of knowledge management. Technology broker links buyers and sellers in open innovation while it is also one of the sources of innovation opportunities. 5. Technology Transfer Center of the ITRI is the clear leader of technology services industry in Taiwan. There also existed some small private firms that handled intellectual property transactions. 6. Innovation is encouraged worldwide and national competition is reflected in the cultivation of innovation and entrepreneurship education.

網際網路(Internet)於1990年代中期蓬勃發展以來，營運模式(business model, BM)成為創投業者(venture capitalists, VCs)評估新興dotcom廠商能否在競爭中勝出的準則。從相關文獻指出，成功的營運模式不僅可形塑新產業，甚且重新分配新價值。因此，營運模式對廠商在市場的持續競爭力，求取生存與成長，具有重大的影響。 市場競爭的本質是以動態呈現，本研究嘗試探索具有動態性之營運模式架構。依循Eisenhardt(1989)個案研究法，本研究以6個新創廠商個案進行深度訪談，將訪談逐字稿進行逐句、逐段分析，歸納整理個案研究發現，並進行跨個案分析以取得個案的型態(pattern)。 從個案研究發現與分析，廠商必須面對環境、技術及競爭者等不確定性因素，廠商的營運模式須從外部不確定性因素中，發現具有利基的創業機會，也就是：廠商須提出能夠打造具利基市場之定位與地位之「價值主張」，以及提供生存與成長的動能之「獲利能耐」。從本研究發現與分析萃取出4個營運模式要素，亦即：廠商必須能夠擁有與動員「關鍵資源與能力」；建立「網絡與平台分享機制」；注重能夠產生領導趨勢、深度體驗及高築障礙之「產品/服務之設計與品質」；充分發揮擴展共創雙贏之「在地智慧」。然而，營運模式在動態的環境中，並非一成不變，廠商必須持續透過「配適、校準、嘗試錯誤及快速商品化」之動態調整機制，才可讓營運模式具有與時俱進的持續競爭力。 / In mid of 1990’s, the era of Internet booming, business models (BMs) had become the most important evaluation tools of venture capitalists to emerging dotcoms whether they can be successful competition from the market or not. From the literature review, it showed that the successful BM not only had reshaped the whole industry, but also had redistributed billions of dollars of value. For above reasons, BMs heavily influence to firms’ performance for getting survival and growth in competitive markets. The competitive nature of markets presents a dynamic characteristic. Under this circumstance, this research tries to explore the architecture of BM that is with the adapting mechanisms to a dynamic and competitive market. The research employs case study methodology and conducts 6 new venture cases. The first research question is to explore new ventures how to seize entrepreneurial opportunities. It can be found out new ventures how to confront uncertainties including environments, technologies, and competitors, which construct antecedents of BMs. From research findings, there are two antecedents, one is value propositions which make firms to craft a special position in a niche market, and the other is profitability capabilities. The second research question is to explore new ventures how to build up BMs and adapt to the dynamic settings. Extracting of case studies findings, there are four elements, including key resources and capabilities, sharing mechanism in network and platform, design and quality in products/services, local intelligence. Also, from the research findings, there are four mechanisms of dynamic adaptation, including alignment, fit, trial and error, and commercialization. In the dynamic markets, the optimal status to BMs is to adapt and renew automatically. On one hand, it makes firms to sense and seize opportunities which are coming from external uncertainties; on the other hand, firms have to keep their BMs on the right trajectory with mechanisms of dynamic adaptation. BMs with adapting mechanisms can make firms keep competitive advantages.

新創企業在創業之初，往往資源不足、訂單未到、客戶關係未建立好、技術及產品未成熟、管理尚未到位，市場不確定等不利因素。所以不管從台灣或大陸的環境來看新創企業，創業之初的三到五年是新創企業最為艱困且風險最高的時段。 因此本研究主要在探討，材料表面處理技術的創業規劃及經營，新創企業如何在創業醞釀階段，就做好創業活動規劃；在草創存活階段，做好存活策略推動，使企業得以存活；在經營維持階段，如何推進經營利潤，並讓企業持續發展下去。使新創企業處於不同階段下，能有效分析、規劃及做好該階段的行動任務，而讓新創企業渡過各個階段的考驗，為本論文的研究目的。 研究結果顯示，在創業醞釀階段，要有創業活動的形成，需要在創業活動前做好分析及規劃。除要有創業的「環境價值機會」出現外，要有能提供顧客價值之「價格」、「品質」、「速度」、「需求滿足」誘因，及具備「技術、產品或服務」、「人或團隊」、「資金」、「客戶關係」等創業關鍵組成。 在草創存活階段，企業需推動存活策略三構面，使企業能順利存活下來，其中與其構面變項有利的連接方向，證明朝向：產品/服務經營模式「訂定得當」、控制資源/開銷「消耗少」、創造利益體/網絡「連結多」，將最有利於新創企業存活的方向。此外，新創企業在草創階段，如所從事的產品或服務之營銷活動，所在的區域、客戶、及市場，在創業之初有很高的不確定性，選擇性或階段性的「集中」（Focus）策略才是正確的戰略。但如從存活策略三構面上做分析，所得到的結果皆為不利的情況，而資源又已先行投入情況下，如擬存活下來，對該項目最好的經營策略就是採取「退縮」（Withdrawal）策略。 而在新創企業在剛經歷草創存活階段後，為能持續性存活下來，需有「經營利潤推進」產生，才得以能維持經營。本論文從經營利潤推進的角度，提出經營維持的四構面做法，包括在創業經營風險構面及成本構面的降低活動；價值構面及收入構面的提升活動。做為在經營維持階段，主要的經營指標。因此，具體落實經營利潤推進的四構面，企業才得以有「利潤」的產生，也唯有利潤的產生，新創企業才得以有機會永續。 關鍵字：新創企業、創業規劃、存活策略、利潤推進、表面處理 創業管理 / A start-up at the beginning often encounters the following challengers: resources are insufficient; the order has not been big enough; customer's relation has not been set up well; the technology and the product is immature; the management has not been put in place yet; the market is uncertain, and so on. No matter the new company is operating in Taiwan or the mainland china, it will face high risk, particularly in the period of 3rd to 5th year after its establishment. Therefore, this research aims to study the entrepreneurial plans and managements for the material surface treatment technology, including how to make a business activity plan well in the entrepreneurial fermentation stage? how to do a better survival strategy promotion in the starting survival stage? and how to become profitable in the management arrangement stage. The purpose to let the new enterprise pass each stage sufferings by effectively analyzing, planning and completing action tasks under the different periods. The findings showed that the company needs to complete the analysis and the plan prior to the activity of entrepreneurship in the entrepreneurial fermentation stage. Besides providing with the opportunities for value added, the start-up needs to provide with “the customer value”, such as “price”, “quality”, “speed”, and “the satisfied demand” to provide, and to possess “the entrepreneurial key element” including “the technology, the product or the service”, “the human or the team”, “the fund”, and “the customer relations”. In the starting survival stage, the enterprise could implement the three key actions of survival strategy to survive smoothly. It is proven that a better survival orientation for a newly created enterprise is to have an appropriate position in product/service or business model, to utilize fewer resources/expenses, and to link with a wider network. In addition, the right strategy for a newly created enterprise in the starting survival stage is the selective or gradual focus strategy, if the marketing activities of product/service have the very high uncertainty at the beginning of the undertaking in the region or the market. The analysis from three key elements of survival strategy obtains result all for disadvantageous situation, but resources already in advance investment situation. The best management strategy is adapted to the strategy of withdrawal. A newly creation enterprise has gone through the starting survival stage, the advancement of operating profit should be produced to last for long enduring survival. The present paper proposed four key elements of management maintenance as a main management target from the advancement's angle of operating profit, which including to reduces the operational risk and cost elements and to increase the operational value and income elements. Therefore, the new enterprise could carry out the four key elements of operating profit advancement to get “the profit”, which would let enterprise have the opportunity to last forever. Keywords：Newly Created Enterprise, Entrepreneurial Plan, Survival Strategy, Profit Advancement, Surface Treatment, Entrepreneurial Management,