策略的目的是在特定的競爭環境中，憑藉企業的特質條件為它創造競爭地位或發展的方向，也就是創造具競爭性的差異優勢，使企業得以順利發展和持續成長。在競爭的環境中，組織能耐常會隨著時間經過而演化；演化的方式會隨著技術本身的特性、外部市場競爭強弱、與內部的組織與管理特性的差異，而有所不同。除此之外，體制環境會影響整個產業內的創新速率，因而對廠商的能耐演化造成影響。但是在環境急速變動的情況下，組織能耐要完全由內部產生不但不可能，而且其速度亦嫌過於緩慢，再加上現代企業的專業分工網絡，企業必須與客戶、供應商、甚至競爭同業合作，以獲得相關的資訊與技術；在企業的發展歷程中，如何有效提升內部經營管理及促進組織之間的知識交流與能耐移轉，便成為組織管理的重要課題。 本研究以一家台灣本土醫藥公司，在台灣生技製藥產業的架構下，創業、轉型、成長的發展歷程，仔細描述影響企業發展的關鍵因素 ─ 企業策略轉變、環境變動、能耐演化，以及企業內部管理提升，彼此之間如何相互配適，並塑造出企業的獨特發展路徑；茲藉由個案公司過去的回顧，描繪其成長的軌跡，作為其未來發展路徑的參考。 / Under the favorable government policy support and a well-established regulatory environment, there are more and more new start-up companies established in Taiwan biotechnology and pharmaceutical industry in the past dacade. However, most of the new emerging companies are still facing very difficult situation. New drug discovery is one kind of long-term time-consuming and heavily cash-investment-needed business. Besides, Taiwan is a small market in the world. The market potential can not afford to develop a R&D based local pharmaceutical company. However, biotechnology and pharmaceutical industry is a very diversified and versatile industry. Under such circumstances, how does a biotech and pharmaceutical company make use of the limited resources and scarce capital assets to identify the niche market, create a new business model, develop the corporate competence, and construct the internal operation to strengthen the core business and secure a sustainable growth in the industry? Besides, due to the evolution of the modern tools including genomic science, bioinformatics, high-through-put screening machine, and gene therapy, the speed of new drug discovery becomes much faster and much more efficient, but the product life cycle also becomes much shorter. How does a local company play in such a highly competitive, technically professional, and dramatically changed environment? This study tracks the growth path of a local pharmaceutical company to show how the key factors, which are, environmental uncertainty, the development of core competence in the firm, and the choice of a successful strategy by top management and the organization, can be manipulated in the entrepreneurial firm that grows rapidly and formalizes its structure and internal operation. The growth path of the company in the past years could be interpretated as the mutual interactions (dynamic fit) of those key factors. Evenmore, the interaction consequences influence the strategic intent to confront the changing environment, and facilitate the practice of the law and the establishment of a government policy. Besides, in order to improve the whole healthcare system in certain medical care, the company develops a new operation model to run the specific business. Traditionally, most pharmaceutical companies are pursuing market-oriented product management, instead of sales-oriented business management. Nowadays, most multi-national firms are actively involved in disease management to expand the market share of certain disease. However, how to integrate the healthcare system and strengthen individual disease management under the specific healthcare system has become a new operation model of a pharmaceutical company to a specific market segment. The company has to work together and closely with the stakeholders, such as health authorities, medical societies, patient associations, healthcare personnel, and the patients themselves to improve the whole healthcare system and even the policy of the law, regulatory, social, and welfare system in the specific medical care, as well.

台灣有超過2,000家在營業中的旅行社，營運規模由3到5個員工到數千人員工，由極輕量化的公司營運一直到大型營運的公司皆存在旅遊產業中。 本研究個案試著運用幾種企業管理常用的理論模組，讓閱讀本文的人士能夠清楚地了解，如何在適當的時機做對的決策，以擴大營運規模。 以本個案的綜合旅行社為例，年間服務出境旅客超過20萬人次，在過去七年間，員工人數成長約2.5倍，業績成長約3倍，並且上興櫃成功；除了公司內部作業平台的改善及優化之外，本個案要闡明的是，在快速變遷的環境中，如何掌握機會，做好決策，並落實執行的過程。期望能提供有效的資訊給有意將公司大型化的同業參考，並也藉由個案檢視公司成長的決策過程，由累積公司成長的經驗中建立有效、穩定的公司決策模式。讓個案中的公司與有興趣閱讀的人員可以從文中獲得知識的累積與經營事業的啟發。

本研究之目的在探索國內科技產業的發展過程中，科技公司創業及經營的過程裡，創投公司對科技公司之知識互動關係，探討創投公司在科技公司各經營階段所扮演的角色及功能，創投公司可以提供科技公司之附加價值，影響創投事業與科技公司知識互動之因素，以及創投公司對科技創新之影響。 　　創投公司與科技公司知識互動成功之因素，在於科技公司之知識及資源的需求，以及創投公司所具有之條件，依據上述個案分析發現，其主要關鍵因素如下： 　　1.創投公司之資金為科技公司迫切需要之財務外援。 　　2.經營團隊對資金募集陌生或沒信心。 　　3.認同創投公司之專業能力。 　　4.經營團隊缺乏專業經營管理經驗，對外部知識之依賴度高。 　　5.對創投公司之組織網絡資源（上游零組件材料、下游客戶、策略投資人、新技術來源等）依賴度高。 　　6.產業之成熟度低且變動幅度大，產業前景不明，經營團隊對外部知識之依賴度高。 　　7.企業轉型方向未定，對新產業不熟悉，需要創投公司協助。 　　8.科技公司與創投團隊彼此有深厚的互信基礎。 　　9.科技公司之經營團隊對投資環境陌生。 　　10.創投團隊具有協助科技公司企業重整成功的經驗。 　　11.創投公司掌握科技公司具影響力的股權及決策權。 　　12.創投公司瞭解新市場趨勢。 　　本研究分析歸納之研究發現如下： 　　一、創業經營互動構面 　　【研究發現一】：科技公司的種子期及創建期，創投公司扮演催生者及創業智囊的角色。 　　【研究發現二】：科技公司的成長期及擴張期，創投公司扮演資源提供者與仲介者的角色。 　　【研究發現三】：科技公司的成熟期，創投公司扮演股票上市推動者角色。 　　【研究發現四】：科技公司的重整期，創投公司扮演企業改造者角色。 　　【研究發現五】：產業組織網絡的綿密度，會影響創投公司之投資品質。 　　【研究發現六】：創投公司的投資金額會影響知識互動之程度。 　　【研究發現七】：僅資金投資的創投公司漸不受科技公司歡迎，具有附加價值的創投公司才有較多空間。 　　二、科技創新互動構面 　　【研究發現八】：創投公司主導資本效率，協助科技公司之技術創新，兩者合力推動經濟發展。 　　【研究發現九】：創新技術透過創業過程取得卓越財務報酬，為科技產業技術成長的動因。 　　【研究發現十】：科技背景的創投公司，較主動推動技術創業，為科技成長做先鋒，財務背景創投公司則傾向於協助經營為主，為科技成長做後援。 　　【研究發現十一】：技術創新的分散性及開放性，促使創投公司的存在與發展。 　　【研究發現十二】：科技知識與經營管理知識的模組化結合，促使新創科技公司與創投公司密切合作。 　　三、知識管理互動構面 　　【研究發現十三】：創投公司的產業網路知識及經營管理知識，對科技公司的協助，優於創投公司之金融資本之效益。 　　【研究發現十四】：產業成熟度越低，創投公司與科技公司之知識互動越緊密。 　　【研究發現十五】：技術導向的技術領先公司，與創投公司之知識互動程度越低。 / The objectives of this thesis intend to explore the knowledge interactive relationship between the venture capitalist and technology industries as well as the key success factors (KSFs) to initiate the interactive basis. Based on the knowledge interactive relationship, this study presents : the roles and functions of the venture capitalist during different business stages, the added-value that the venture capitalist provided, the key factors influencing the interactive relationship, and the changes in technology and innovation as influenced by the venture capitalist. 　　The key success factors initiating the interactive relationship between the venture capitalist and technology industries are the technology company's demand in knowledge and resources as well as the knowledge and resources that the venture capitalist can provided. 　　This study was conducted by using case study methodology covering four samples of high-tech companies and two venture capitalists. The results of this study are as follows: 　　1. During the seed and start-up stages of technological companies, the venture capitalist acts as the promoter and start-up consultant. 　　2. During the growth and development stages of technological companies, the venture capitalist acts as the resource-provider and coordinator. 　　3. During the late stage of technological companies, the venture capitalist acts as the IPO promoter. 　　4. During the re-orgnization stage of technological companies, the venture capitalist acts as the re-structurer. 　　5. The industrial network of the venture capitalist will influence the company's investment performance. 　　6. The investment amount will influence the knowledge interactive intensive of the venture capitalist. 　　7. The venture capitalist only affords capital but without knowledge have been worked difficult. Only the venture capitalists with smart-money and value-added will have development space. 　　8. The venture capitalist leads the capital efficiency and the technical companies lead the technology innovation. Both of them promote the development of economics. 　　9. Start-up new companies with innovative technologies to purchase excellent financial reward are the motive factor of technology development. 　　10. The venture capitalists with technical background will more actively promote the innovative technologies start-up. The venture capitalists with financial background will focus on the management of the investee. 　　11. The diversity of technology innovation builds up the development space basis of the venture capitalists. 　　12. The modularization of the technical innovation and business management is the key factor in pushing the knowledge interactive between technical companies and venture capitalists. 　　13. The industrial network and management knowledge contributions of the venture capitalists are more than the contributions of the capital benefit. 　　14. The more amorphous of the industry, the more knowledge interactive activities between the technical companies and the venture capitalists. 　　15. The more technical-oriented companies, the less knowledge interactive activities between the technical companies and the venture capitalists.

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

台灣隨著聯電與台積電陸續成立晶圓製造廠以來，帶動了整個半導體高科技產業的蓬勃發展，也因而創造了台灣的經濟奇蹟。以電子資訊業為首的高科技產業，無論在營收成長、獲利力或個人產值等方面均有傑出的表現。雖然過去，台灣高科技產業能持續在市場上生存並佔有一席之地，乃在於擁有完善的製造能力與完整的產業供應鏈。但今日，高科技產業長期的經營與運作模式已面臨嚴重挑戰。企業間過度擠壓所造成的削價競爭、產業外移，供應鏈失調等問題，正是高科技產業停滯不前瀕臨生存威脅的最大因素。因此，台灣企業該如何提升其自身的競爭優勢與經營管理能力，並且妥善運用有限的資源進而轉化成對外的競爭策略，將是企業是否能安然渡過該波擠壓洪流，而得以永續經營的關鍵成功因素。 因此，本研究將探討『台灣電腦晶片組設計業經營問題與競爭優勢分析』，藉由分析探討國內兩大電腦系統晶片組設計廠商－矽統科技與威盛電子公司的實際經營狀況，來了解台灣電腦系統晶片組設計業現今所面臨的經營問題。 針對上述探討研究方向，除了參閱多方理論文獻與次級文獻資料外,吾人亦以十多年來實際參與電腦產業經營運作的經驗，並收集分析矽統科技與威盛電子公司發展推動市場的手法，試圖來解釋分析本論文所發現的問題，同時在總結各方面的研討後，提出可能性的對策與方案，使之能在既有的核心能耐與有限的資源下，對其所擁有的核心能力加以強化及發揮，進而產生另一層的經營優勢並提昇該產業的核心競爭力。 本研究結果發現台灣電腦系統晶片設計業： 一、 台系電腦晶片組廠商目前所面臨經營上的機會與問題 劣勢與威脅部分： 1. 新產品的創新能力、類比技術及系統整合能力較差，加上電腦系統晶片組功能整合開發難度與日俱增，在國際競爭上始終無法超前國際大廠（如Intel與nVIDIA）。 2. 由於新技術能力的不足，造成產品推出時程落後；沒有新穎產品的創新能力，無法提供附加價值，不得不採取低價策略。 3. 同業間惡性競爭、下游廠商代工成本提高、獲利不佳引發財務資源不足。 競爭優勢部分： 1.台灣半導體產業專業分工，群聚效果顯著，產業供給鏈完整，對電腦晶片組產品開發設計幫助大。 2.人力素質佳，上下游產業垂直分工，能力強。 3.專業晶圓代工關係密切，並帶動上下游產業發展。 4.營運彈性大，效率高，以達經濟規模，具成本競爭優勢。 5.下游PC資訊產業為堅強支援。 6.設計技術高、能力強、產品運用靈活、整合力佳。 其機會在於： 1.大陸PC/數位消費性電子市場胃納大，台灣具同文同種優勢。 2.IA產品衍生的零組件商機。 3.業界聯盟、技轉和併購增加實力。 4.台灣矽島計畫（IP Mall）成立。 5.與中國市場提供規格制定的可能，進而能利用中國人才加強研發能力。 6.低價電腦需求持續成長，帶動低價的台灣晶片組產品出貨量。 關鍵性成功因素： 台灣廠商應持續強化其競爭優勢，使此優勢有持續性與不可取代性。因此，台灣廠商應憑藉著自身有限的資產與技術能力為競爭的基礎，採用最佳的競爭手段來對抗後進的ATi與nVIDIA的激烈競爭，如：提供更多的產品組合以發揮其綜效的產品策略、最低價產品的定位策略、利用台灣產業群聚效益的優勢發掘最有效率的製造策略等；採用正確的競爭方式以避開正面與外商優勢產品的直接競爭，如：基於目前擁有成熟的技術，運用其技術延展性的特性，積極開發新產品並鎖定中國、印度、印尼、俄羅斯及巴西等新興電腦市場之選擇。 二、 台灣廠商的整合核心技術能力普遍不及外商，尤其在整合性產品中的繪圖核心邏輯部分與類比技術；不過值得慶幸的是新技術的市場推廣往往必須花費許久時間，台灣廠商可藉此發展較便宜的產品，一旦新技術被市場接受時，迅速推廣至市場達到後發先至，後來居上的成功策略，畢竟類似的產品其價格仍佔優勢。 三、 近年來，電腦晶片組所賴以為生的上下游產業，多數廠商雖被迫遷至中國設廠以降低製造成本來爭取較高獲利，原以為此種現象將會造成台灣電腦產業群聚效益的喪失，但所幸的是新的產業群聚效益逐漸於中國的上海地區形成，就如同台灣的竹科與南科一般；因此，台灣電腦晶片組廠商仍擁有較國際大廠較佳的電腦產業群聚效益的優勢。除了該優勢外，台灣廠商若能在有限的資產與技術能力的基礎下，更持續強化其自身的競爭優勢，使此優勢具有持續與不可取代性。如此方能統合己身的資源優勢，進而得有能力來對抗後進的ATi與nVIDIA等廠商的激烈競爭。 / Following the establishment and operations of TSMC（Taiwan Semiconductor Manufacturing Company Limited）and UMC（United Microelectronics Corporation）in Taiwan, the high-tech industry of wafer production flourished and created a reputation nothing short of an economic miracle for Taiwan. In the electronic information field, it became the leading business; outperforming in all aspects showing outstanding profits, income, growth, and personal production value. The high-tech industry of Taiwan then occupied a strong-hold of the market continuously, owing to its manufacturing capability and complete supply chain. Today however, the long time operational model of this industry confronts a serious challenge because of compression among local enterprises. Prices have been cut, factories have been moved abroad, creating a disorder in the supply chain and all can be seen as life or death threatening risks to this systematic industry. The key success factors for sustainable management objectives is going to be how the Taiwanese enterprisers promote their competitive advantage; utilize their business management ability for better efficiency of factories; manipulate the limited resources; and further divert all of the above into a competitive strategy. Through analysis of actual practice and business operations of two PC chipset design house companies（Silicon Integrated Systems Corporation and VIA Technologies, Inc.）, this study will examine and predict『The operational problems related to business management and competitive advantages analysis which are in front of the PC chipset design industry in Taiwan』. Aiming at directions of above stated examinations and analysis by using my experience of participating in management and review of all aspects in PC industry for more than ten years and by reading of papers at sublevels; also by collecting marketing methods of the above two companies; I will explain the problems I have revealed. At the same time, I will provide applicable stratagem and programs for PC chipset industry of Taiwan to upgrade its core competencies and strengthen its competitive force. Results of this study are stated below: A. The operational problems related to business management and competitive advantages in front of the PC chipset design industry of Taiwan A/1: Weaknesses and Threats 1. The PC chipset vendors of Taiwan cannot compete or overtake Intel or nVIDIA in the international market until the following is addressed. In addition to extended difficulties in PC chipset integration, there is an inferior ability in the following aspects: the invention or creation of new products; analogy techniques, and system integration. 2. Due to inadequate new technologies, the new products cannot put into market on schedule. Further, without innovation of products to create added value to a product low price policy has become the only strategy. 3. Vicious competition among similar enterprisers and an increase of labor cost of factories in the production line may induce monetary crises at any point of the chain of the PC industry. A/2 : Competitive Advantages 1. Specialty divisions, clustering of the Taiwan Semiconductor industry and good supply chains all contribute a lot to the development of PC chipset products. 2. Good quality of labor and vertical division of top to bottom production are the factors which enforce the industry. 3. Close ties to the chip production manufacturers promote development of top to bottom enterprisers. 4. Flexibility of management facilitates higher efficiency to reach the economics of scale. A definite cost competitive advantage. 5. The PC information industry constitutes concerted support. 6. Design technology at high level, good capability, splendid flexibility on product applications and fine integration of these elements. A/3: Opportunities 1. Markets for PC and digital consumer appliances for Taiwan and the mainland China is huge because of population and economic growth there in recent years. Consumers share the same culture; belonging to same race also is an advantage. 2. Opportunity deriving from IA products for companies to produce peripheral parts. 3. Through alliance of enterprisers, transit of techniques and business merging is an opportunity. 4. Establishment of Taiwan IP mall. 5. To formulate protocols and define specification together with enterprisers in mainland China for a market there. Further to utilize local professionals to promote research and development. 6. Demand for low cost PCs will increase steadily which will enable Taiwan to export more PC chipset products. A/4: Key Factors for Success The Taiwan companies should continue to strengthen their competitive advantages to maintain their continuity and non replaceable character. Also apply the limited resources and technical know-how as a base of competition. Furthermore by adopting better competitive measures to confront the new more advanced competitors such as ATi and nVIDIA. These measures may include a greater product portfolio synergy; the assembly of more complex and efficient products made in Taiwan; a low cost product positioning strategy in order to avoid face to face competition; a redirection of the current mature technologies into technology extensions for products aimed at the emerging PC markets such as China, India, Indonesia, Russia and Brazil. B. The ability to integrate core technologies by the Taiwan industry is less efficient than foreign companies especially the graphics core-logic and analog techniques. It is fortunate that it often needs a long time for a new technique to appear in a market. The Taiwan companies can use this time gap between the existing mature technique and another generation of know-how to develop modified low price alternative products. Once the new technique is accepted by the market, it can be spread to the market with a faster speed to achieve a better result. After all, prices of similar products still occupy the good position for profit. C. In recent years many factories, from top to bottom producers were forced to move to the mainland China in order to lower the cost of their production for higher profits. At first it was thought that these phenomena may cause the disappearance of industry clustering in Taiwan adversely affecting the supply chain. Fortunately the outgoing factories were clustered in the Shanghai area very similar to Hsienchu Science Park and Southern Taiwan Science Park in Taiwan. The PC chipset design industry of Taiwan can thus still maintain their clustering advantages to confront the big factories world wide.