The development of Direct Selling industry in China is amazingly flourishing since Avon set foot in GuangDong, China at 1992. Giving China’s potential mega size market, the growth pattern of the industry is not all very positive in the past 30 years. Chinese government has issued a total shut down upon all those Direct Selling business in 1998 to prevent the deterioration of the social distress caused by the not yet completed governing system. All the existing multi-national direct selling company were “advised” to transform from “No-Shop” Sales to “Direct-owned” or “dealer-owned” store operation. Not until Chinese government honored the WTO treaty in 2005 and embraced the development of private own retail business, the permission of No-Shop sales were then reissued. However, the well known multi-level marketing/compensation system of Direct Selling system was still banned in China. The Direct Selling system are mainly differentiated from traditional retailing system by its different selling channel, no-shop sales, single or multiple compensation system, and their high percentage motivation bonus system. What were the challenges the management team of the multinational direct selling companies facing? How can these companies survive the highly volatile legal environment and still be thriving 30 years after? What were the strategies adopted to cope with the external change? What were the consequences after these new strategies had implemented? The author has chosen the largest global Direct Selling Corporation-Avon and the largest International Direct Selling Corporation operate in China -Amway as subjects of this study and tried to determine what were the strategies these companies adopted that lead to success. The result of study found that the common strategies toward emergency lead to success are as follows: 1. Obey and cooperate with Chinese government's decree 2. Keep the communication channel with government open at all cost 3. Maintain good public image, advocate social well-beings by contributions 4. Ultra-flexible organizations

策略一辭可說是管理學界最常被提及的字彙，然一般對於策略的認知大多是「想像一個可能的未來下，針對產業情境與自身條件下所擘畫的一系列作為與活動」，許多研究便是在此認知下去探討、驗證各種可能的競爭優勢來源，或者針對特定的產業情境歸納出應該採用的策略。本研究則試圖還給策略在組織上的客觀意義即「每ㄧ個組織無論其採用的管理方式為何，皆會有一個內嵌於組織的策略」，並將研究的重點著重在利用過往學者所建立的理論，建立一個更有效的架構與系統以便讓策略的思考與決策更為多元與容易。在本研究中我們提出了一個「策略思考架構」並透過簡易的資訊工具設計一「策略思考輔助系統」。在思考架構的設計上我們將策略的內涵以經營模式來表述，並將架構劃分為競爭優勢理論、企業主的經驗直覺以及外在環境等面向，並且透過策略思考輔助系統，來輔助企業主將如此複雜的面向作一統整的思考。透過個案的訪查整理與實務的個案演練可以發現一個簡單易用的思架構以及輔助資訊的提供，確實可以使得企業主延伸出較廣的思維以及更嚴謹的策略邏輯，並可以有效快速的對於外在的環境變動或者趨勢下整理出較為周詳的企業決策。

併購後整合策略分析：以成霖企業為例 / The rise of globalization has exponentially increased the market for cross border Merger and Acquisitions (M&As). There are many purposes and motives that organizations choose to engage merger and acquisitions activities. Yet, the dominant rationale behind M&As is to seek improved financial performance. Post merger integration has been considered as the most important phase as it will formulate the merger and acquisition’s effectiveness and efficiency. This study will focus on the key success factors and the managerial procedures of post-merger integration, covering from Finance, Human Resources and Strategic management aspects. The author chooses Globe Union Inc, Taiwan-based Corporation, as it has engaged several cross border merger and acquisitions in recent years. Globe Union concentrates and values corporate managerial procedures significantly as they served as the discipline and communication means to guide Globe Union and the acquired companies to a better and improved future with a clear strategy and goals. The three acquired companies, Gerber, Home Boutique International, and PJH will be analyzed with its post integration results linking with the execution of the managerial procedures. Key Words: Cross-border mergers and acquisitions; Post Merger and Acquisition Integration, Globe Union Inc. cases; Taiwan cases

廣告置入於社群網站遊戲之發展經營策略分析 / The Internet technology expanded in early 90’s, applications related to this technology also grew with it. Online applications are now developed not only for searching or e-mailing, but also develop to increase interaction between people and occupy more of people’s leisure time. In this business plan, we analyze Internet market trend and target users and find out possibility on investing in product placement advertising in browser games. With limited budget and man power, we select simple browser game development combine with product placement sponsorship as our core business. By catching current social-networking website’s growing trend, we will select these types of websites as platform since they are usually free to use for game developers and have generate great numbers of members already. Our specialty is to custom made games for our sponsors. Sponsors’ product or brand name will be the main theme of a game or be product placement as billboards, flesh, or special items in a game. We can also combine our website banners and events to create media integration for our sponsor. Our goal is to help sponsors to reach their target consumer more frequently in a friendly gaming environment and increase target consumer’s brand preference. Games we create can be made for nearly all kinds of industry. We will analyze and match suitable target consumer and recommend for our potential sponsors. Our target is to make two games for the first year and add one more new game in every following year. For each game, we create three types of sponsorships. Clients can select based on their current marketing need. We estimated we will have a negative balance in the first year, but will turn to positive in the second year right after we sold our three games’ sponsorship, and hopefully create more than one million year end balance in the third year. In the future, we can collect players’ data though their playing record and create our own data base center. We can analyze these data and provide research report for corporate. We can also use our game marketing experiences as our know-how to help international online game company develop Taiwanese market. And finally, we can develop into a professional online marketing and media integration company in the future.

房仲業雖作為連鎖經營及行銷通路概念行業，但因其交易特性，需要足夠的專業與服務的一致性，所以人才一直是此行業成功的關鍵因素。但在大陸地區，由於市場的成熟度與政府強勢主導，加上近些年 經濟快速成長，國際資金不斷湧入，其競爭環境比在台灣相對複雜許多。本研究主要是採取個案研究方式，希望經由深入的個案分析，尋找房仲業在大陸地區未來發展趨勢與關鍵成功要素。並為個案公司擬定策略以因應未來環境的快速變遷；並能在發展過程中蓄積核心資源，增加競爭力。 本研究的架構採用Aaker的理論架構來進行內外在分析與策略規劃。整個研究架構分為四個階段： 1.先分析整體環境為房仲業帶來的機會與威脅，以及該產業的成功關鍵因素；進而了解個案公司所擁有的優劣勢。 2.根據以上分析，歸納出該公司所面臨的問題。 3.策略方向的擬定，並依照適當的準則予以評估與選擇。 4.提出可行的策略，在該策略下擬定競爭策略與營運策略。 經過本研究分析發現，除了三S專業化、簡單化、標準化，及人才、品牌、資訊等傳統關鍵成功要素外，面對政策強勢主導及快速變動環境，掌握需求變動時間差能力、行銷通路及售後服務的創新整合能力、地理區差異所需要的彈性模組運作能力、網絡及策略聯盟整合能力、顯得更加重要。本研究建議個案公司採成長策略與差異化集中作為競爭策略，以發揮個案公司的核心能力，持續領先同業並奠定永續經營的利基。

衛浴設備在亞太市場的策略分析和銷售計劃 / In the past decades many economies in the Asia-Pacific region have shown impressive growth rates, leading to an unprecedented level of new construction. Across the region many new hotels and resorts, apartment buildings and private houses have been built. For Fima Carlo Frattini, an Italy-based medium-sized manufacturer in the sanitary industry, supplying fittings for private and commercial bathroom applications, this development has been an enticing business opportunity. However the markets and clients of Asia-Pacific are far away and the company is considering the establishment of its own regional office in order to improve its sales revenue. The target of this paper has been to conduct the strategic analysis of the markets in Asia-Pacific and assess the company’s revenue potential, further on to develop the appropriate sales and market strategy. However the final conclusion drawn is that the company should not engage in opening its own regional office, as the required financial investments are likely to outweigh the gained sales results.

本研究以宇向電子科技有限公司（以下簡稱宇向）作為研究對象，宇向成立於1988年，前期以電子加工為主要業務，1992年研發出電子零件─震動傳感器（以下簡稱震動開關）以後，開創出以往沒有的產業，自此專注於研發及製造震動開關。自1997年外移至中國至今，宇向潛心經營唯一的產品線，目前為震動開關市場中的領導者。 本研究以Simon（1992）提出的隱形冠軍研究進行個案分析，並以司徒達賢的策略型態分析法之六大構面為架構，深入分析宇向從創業成立至今，帶領其從產業的頂尖選手邁向隱形冠軍的八個策略：1. 專注經營核心產品 2. 滿足客戶需求 3. 完全代理制 4.白牌競爭策略 5. 階段性外移 6. 自行設計生產設備 7. 半自動化生產 8. 安全庫存管理，將策略做法和策略所帶來的競爭優勢與隱形冠軍進行比對，找到許多相似的特點，而其中宇向最重要的關鍵策略為「專注經營核心產品」，此策略為其他七個策略的根基，並且幫助宇向不斷強化最重要的競爭優勢─品質，此分析結果與隱形冠軍的第一大策略「聚焦策略」相合，更加證明宇向具備隱形冠軍的特質。 本研究發現宇向目前遇到市場萎縮且地理涵蓋範圍過窄的困境，以及存在缺乏業務開發能力的潛在風險，並有接班制度不周全的問題。根據宇向目前所具備的優勢以及外在環境分析，建議保持自行設計生產設備的能力，並且盡速進入全自動化生產製程降低生產成本，再以副品牌進入低價市場競爭，並至海外尋找可以合作的代理商，跨出中國市場，建立海外訂單的代表性案例。接班制度的執行則建議其培養接班團隊，取代以往的個人魅力領導方式，從單打獨鬥轉為共同合作的團體戰。

國內三大機構法人(外資、投信、自營商，以下簡稱三大法人)，在證券市場中成交比重逐年的攀升，三大法人挾其越來越大的市場交易比重、雄厚資金及專業研究團隊，進出市場，使得國內之一般投資人及主管機關，對於三大法人進出國內股市之動向及選股策略多所矚目。文獻中，發現三大法人投資行為領先於一般投資人，一般投資人投資行為有跟隨的現象，此一現象促使研究法人投資行為有其重要性及可參考性。 本研究藉由統計數據建立起本研究實証結果的基柱，進而衍生出本研究策略邏輯的架構。台灣期貨市場對於自營商之交易、投信之交易皆有不同規範之限制，導致三大法人三者在於期貨市場之交易行為不一致。此策略不同於市場上之程式交易者純粹以價格產生之技術分析為主要考量，本策略以籌碼面為主要權重依據，技術面為輔，建構完整的訊號體系。 可歸納如下： 一、三大法人及自然人成交比重 二、籌碼分析結果 三、策略分析

本研究聚焦「房屋比價平台」對於房仲產業的各項衝擊，及傳統的房仲產業面對這波來勢洶洶的創新潮流將如何因應？研究者比較著重其影響及對應的策略，以及對於未來趨勢研究者的一些推測。 房仲產業是一個十分本土而傳統的產業，研究者花了25年的時間對於體系內的從業人員不管是系統、流程、服務觀念、作業模式做了許多改變的努力，不過改變是漫長而緩慢的，各種破壞式創新的商業模式不斷出現，許多產業或多或少都感受到這波變革的衝擊，進而必須做出一些因應改變。 ‭ ‬本研究個案部分便是以目前市場剛推出的一家房屋比價平台當研究的案例，結合大數據、互聯網及平台的相關技術與觀念，串起線上線下的虛實整合（O2O），試圖來挑戰這個本土而傳統的房仲產業，由解決有買賣需求的消費者及第一線的從業人員的痛點入手，提供一個更便利、更友善、更有效的媒合工具與平台，讓房屋交易市場能夠更透明而不被操控，也能早日讓房屋市場回歸市場機制。 研究者以SWOT、SAS策略分析、策略地圖等策略分析工具來進行個案的研究，並列出目前房仲產業中各角色會受到的衝擊與預期因應對策，並提出未來房仲產業的發展建議，以及將來研究的趨勢與方向供大家參考，相信這絕對是一個值得關注的議題，對有志研究的研究者提供先行的參考。

石化能源逐漸耗竭引人關注，再加上「京都議定書」對溫室氣體排放之全球性管制，促使世界各國重視各種新能源與替代性能源，並積極投入應用與研究開發。生質燃料已成為全球許多國家的戰略性資源，其發展除可開發自產綠色能源，提高能源自主比例，並能結合能源、農業、環保、產業等共同發展。面對全球生質燃料產業急速成長，台灣自不能自外於節能減碳的永續發展趨勢。 為驗證政府推動生質燃料政策的環境條件及業界投入狀況，本研究以次級資料分析方法進行國內、外之發展現況及趨勢分析；透過學者、專家、政府業務執行主管及業者之深度訪談，藉由訪談之資料歸納國內發展情形，對照現有生質燃料政策推動目標之發展模式，並以五力分析架構及SWOT評估方法評估生質燃料產業發展之競爭力。 本研究的主要發現包括：1.影響我國生質燃料的發展，最主要的關鍵要素是料源成本、價格補貼及市場保證；2.在推廣生質燃料的策略作法上，絕大多數主張應依政府政策規劃目標循序漸進推動；3.業者在發展生質燃料過程中，面臨最大的困難在於政策的不確定及原料的掌握不足；4.產業發展初期仍應以國內產製優先，不足部分再開放進口；5.生質柴油料源中，目前以廢食用油最具價格競爭力，麻瘋果油次之，藻類則是長期看好的料源。生質酒精部分，依國內廠商最可行技術而言，以甘蔗酒精較具價格競爭力，狼尾草居次，纖維素作物則是長期看好者。6.現階段的政策目標，在生質柴油部分的推廣比例仍以B2為佳，生質酒精則以E3為國產料原的最大量。長期來看，生質燃料產業的擴展，一定要以非糧食作物為優先，關鍵環節在於纖維酒精技術及藻類開發技術有突破，推廣比例及市場規模才有再擴張的空間。 就研究分析所得，提供下述政策建議：1、政府需訂定明確的政策目標；2.成立再生能源國家型計畫，加速推動生質燃料發展；3.政府率先投資第二代生質燃料產業；4.需建構生質燃料永續發展的制度性設計；5.確立以本國產製為優先之政策宣示；6.強化節能減碳教育宣導，讓消費者建立信心並接受。在業界策略上建議：1.必須提升料源掌握度與開發多元料源，並降低生產成本；2.業者須加強與通路商籌組供油策略聯盟；3.生質酒精業者可採合資或合作生產方式切入市場，取得先占地位；4.積極參與第二代生質燃料的研發與技術銜接。 / Petrochemical energy shortage is an issue that has been gradually gaining attention. Global regulation of greenhouse gases emission set by the Kyoto Protocol has also called attention to new and alternative energy sources, as well as the active involvement of individual countries in new energy application and research development. Biofuel has now become a strategic resource in many countries. Additional development of alternative energy can not only help increase the amount of domestic green energy and its ratio to traditional energy, synergy is also created causing the equal development of energy, agriculture, environmental production, and industrial growth. In face of the rapid growth of the biofuel industry worldwide, Taiwan must not exclude itself from the trend of sustainable development in energy conservation and CO2 reduction. To access the conditions of government policy in biofuel promotion and industry involvement, this study used secondary data analysis methods to analyze the current trend and status of national and international development. Through information gathered from in-depth interviews with academics, experts, government executives, and industry members, current domestic developments are compared to existing models of biofuel policy, promotion, and objectives. The competitiveness of biofuel industry development is further evaluated using SWOT assessment and Five Power Analysis. The main findings of this study include the following: 1) The key elements affecting national biofuel development are raw material costs, price subsidies, and market guarantees. 2) In biofuel promotion strategies, a vast majority should be made gradually and according to government policy planning objectives. 3) In biofuel development, the biggest challenges the industry faces are policy uncertainties and the lack of raw materials. 4) In initial industry development, domestic production should be a priority, allowing imports only when in demand. 5) In raw materials for bio-diesel, recycled oils are currently the most competitive in value, followed by Jatropha oil, while algae is seen as having long-term potential. According to the most viable technology offered by domestic manufacturers, sugarcane ethanol is the most competitive in value for bio-ethanol, followed by Chinese Pennisetum, while agricultural waste is seen as having long-term potential. 6) In the current stage of policy objectives, B2 is still more adequate in the promotion of bio-diesel, and E3 is the main domestic raw material for bio-ethanol. In the expansion of biofuel industry in the long run, priority must be given to non staple crops, while the key lies in cellulosic ethanol and algae oil development technology. Only then can there be room for further expansion in promotional proportion and market scale. The following policy recommendations are provided based on analysis of the study: 1) Clear policy goals must be set by the government. 2) Establish nation-wide plans for renewable energy, and accelerate the promotion of biofuel development. 3) Government must take initiatives in second-generation feedstock investments. 4) A systematic design must be built for the sustainable development of biofuel. 5) Policy declarations must be made to ensure the priority of domestic production. 6) Strengthen education in energy conservation and CO2 reduction, and build consumer confidence and acceptance. Recommendations for industry strategies: 1) It is essential to increase control of raw materials, develop multi-source materials, and lower production costs. 2) The industry must strengthen its strategic alliances with distributor in oil supply. 3) The biofuel industry may partake in joint ventures or cooperative efforts to get a head start when entering the market. 4) Actively participate in the research and development and technology adaptation of second-generation feedstock.