中國市場具備龐大內需實力，預期2027年將成為世界第一大經濟體，已成為全球注目及亟欲進入以獲取商機之必爭之地。中國零售業自改革開發迄今30年中，連鎖零售企業門市總數由2003年4.7萬家增加至2006年12.4萬家，批發零售貿易業零售總額，由2002年2,973億人民幣增至2007年7,561億人民幣；零售業者對IT系統需求自2000年僅止於足敷前台收款及後台物管相關連結能正常運作，至2005年起開始重視管理層面的有效性考量，至2009年起更甚而重視系統建置於數據擷取後的分析於績效展現及決策運用；零售企業在IT上的平均投資額由2004年的50餘億人民幣增加至2008年100億人民幣。台灣資訊服務產業軟硬體及系統應用整合開發能力均已臻成熟，在同文同種及地理優勢下，此刻正是揮軍中國市場的絕佳時機。 本研究結果顯示，台灣資訊服務業或可參考Ａ公司以「市場定位目標明確性」及「持續動態發展的經營策略」為基礎的經驗，藉由外部資源引進及內化成果紮根的同步展現，建構符合市場發展階段需求之企業優勢。此外；台灣資訊服務產業若能採以專業分工垂直或水平整合形成策略聯盟夥伴關係，掌握市場需求脈動與即時供給具完備性服務內容，當可合力擊退其他國際企業，大規模實質搶攻大陸商機。 / The enormous potential of China domestic market was expected to become the world's largest economies in 2027, the demand has caught the world's attention and desire to explore the great opportunity. After 30 years of development since economy reformation , China retail industry has grow the total number of retailers from 4.7 million in 2003 to 12.4 million in 2006; the total sales revenue of retail business increased from 297.3 billion RMB in 2002 to 756.1 billion RMB in 2007. Whereas in the mean time, retail IT system has expand its function from POS and back office management in 2000 to the efficiency of business management in 2005, and furthermore, IT requirement expand to data capture and analysis for decision supporting system in 2009; along with the increasing demand of information management, the capital investment in IT has increased from 5 billion RMB in 2004 to 10 billion RMB in 2008. With years of development, Taiwan information service industry now has great opportunity to enter China retail market by leveraging its culture homogeneity and geographical advantages with established core competence in both hardware and system integration. This research explores how company "A" could be a reference for Taiwan information industry. Company "A" build up its core competences thru "market positioning" and "dynamic business strategy", with the integration of external resources and internal talents in different development stages. Pursuant to the reference, if Taiwan information services industry could establish vertical integration or horizontal strategic alliance or partnerships, and keep the same pace with market demands and provide total solutions in timing basis, Taiwan information service industry should be able to compete with international major players of the industry and be part of the rapid growth of China retail business.

資訊服務業為知識經濟下的代表性產業,其企業價值的創造可以說完全來自 於智慧資本的累積與影響,而對於台灣經濟而言,資訊服務業亦是新興的成長動 力來源。伴隨著網路科技的發達,近期資訊服務業中亦產生異於過去單方向進行 軟體開發及推廣的平台商業模式(Platform Business Model),舉凡電子商務、 線上遊戲、社群網站及通訊軟體皆在此範疇內,而根據 Chesbrough(2006)的開 放式創新理論,平台型企業是最能適應環境變化,亦能最快、最有效率達到創新 的公司,擁有更強的競爭優勢。 因此,本研究主要探討在資訊服務業中,平台型商業模式如何影響企業在智 慧資本上的投資,以及如何影響企業價值。本研究以台灣上市(櫃)資訊服務業 近 2012-2014 年的資料為樣本,利用追蹤資料迴歸模型(Panel Regression), 控制公司成長面、獲利面、風險面及公司規模,並固定年份所帶來的時間效果, 探討在產業當中平台商業模式對智慧資本投資以及企業價值的影響。 實證結果分為三個部分,(1)選擇平台作為商業模式,能帶來更高的企業價 值,並且顯著異於其他非平台資訊服務同業。(2)資訊服務業的關鍵智慧資本為 人力資本,然而資訊服務業中的平台模式更強調結構資本的重要性,相較之下非 平台的資訊服務同業在顧客資本的投資能帶來更高的企業價值。(3)對於平台模 式而言,人力資本與結構資本之交互作用,能為企業價值帶來顯著性的綜效,但 非平台模式在各個智慧資本間則沒有綜效產生。 / As a representative industry of knowledge economy, all the value creation of Information Service value is from the Intellectual Capital(IC). Besides, for the economy of Taiwan, the sector is also the new engine of economic growth. With the development of the Internet, information service industry in recent years has produced a different business model, transformed from “single direction software development” to “multi-sided market platform”, which included e-commerce, online games, social media and instant message service. According to the theory of Open Innovation by Chesbrough(2006), this kind of platform business is the most able to adapt to environmental changes, also the fastest, most efficient achieve innovative company, and has a stronger competitive advantage. This study focuses on the platform business model and IC of Information Service Industry, and tries to decode how platform business model affects investment in IC, and how it affects corporate value. The study collected the listed Taiwan Information Service companies in 2012-2014 for data sample, uses Panel Regression Model with the control of the company's growth, profitability, risk and size, and fixed the year Effect, to investigate the effects of the platform business model for IC investment and the impact on corporate value. The evidence can be divided into three sections: (1) In the industry, platform business model can lead to higher corporate value, which also significantly different from other internet information services peers; (2) Human Capital is key IC for Information Service Industry. However, platform business emphasizes more on the importance of Structural Capital, compared with other peers of the industry which investment of Customer Capital would lead to higher corporate value; (3)The interaction of Human Capital and Structural Capital can bring significant synergy on corporate value for platform business, compared with other peers of the industry which have no synergy between ICs on corporate value.

「雲端運算」這幾年來成為全世界熱門議題，受到各個先進國家政府的高度重視，相繼積極投入龐大經費與資源來建立雲端運算的基礎建設與協助產業發展，更為產業界帶來了龐大商機，業者無不搭上這股時代潮流，期盼能找到創新營運模式，來提昇公司的核心競爭力。 　　台灣信用合作社受到現行金融法規的規定，限制其經營業務種類、營業區域及交易對象，造成信用合作社的營運範疇、可用的資源、事業網絡、營業額、客戶數及市佔率等等面向都無法與一般商業銀行比較。此先天的限制，也讓信用合作社在資訊設備的投資，資訊人員的配置上，與銀行相比也相對少很多，造成在競爭力上處於不平等的窘境。 　　本研究挑選金融資訊服務產業個案公司和其客戶區隔（信用合作社）做為個案研究對象。試著透過商業模式的理論觀點，探討雲端運算提供的服務模式，分析個案公司ASP營運模式是否能成功轉型成雲端運算SaaS模式，並發展出一套適合台灣信用合作社的雲端服務電子銀行解決方案。本研究結果除了可以提供給台灣信用合作社建置電子銀行系統參考外，亦可以對台灣金融資訊服務業因應雲端運算趨勢，帶來新的商業契機。 / "Cloud computing" has become the world's most popular topics in the past few years. Each advanced countries governments have attached great importance to cloud computing, and have been actively involved in the huge funding and resources to build a cloud computing infrastructure to assist industrial development, but also for the industry to create huge business opportunities. The enterprises have to catch up with this trend, and look forward to find innovative business model to enhance the company's core competitiveness. 　　Taiwan's credit cooperatives types of business, the business region, and trading customers are subject to the limitations of the financial laws and regulations. Result its business region, available resources, business networks, business income, the number of customers and market share, etc., cannot compare with the banks. This inherent limitation caused Taiwan's credit cooperatives invest in IT equipment and IT personnel are much less than the banks, resulting in unfair competition. 　　In this study, we select the financial information services industry, the case company and its customer segmentation (Taiwan's credit cooperatives) as a case study. This study tries to explore the cloud computing service model through the business model of theoretical perspectives to analyze the case of the company's ASP business model is able to successfully transform into cloud computing SaaS model, and tries to develop a set of cloud services for Taiwan's credit cooperatives in e-banking solutions. The results of this study can provide Taiwan's credit cooperatives to build the reference of the electronic banking system, also of Taiwan's financial information services in response to the trend of cloud computing bring new business opportunities.

台灣資訊服務業的興起，係源自於企業需要資訊服務以解決重複性作業及複雜的管理面問題，以及過去外商進入台灣市場促成產業的競爭發展。台灣資訊服務業者普遍存在有營運資本小、資源有限、產業鏈分工界線不明確的先天體質問題，又同時面臨內需市場小、進入障礙低、競爭者眾之環境面挑戰，在對外開拓國際市場時，又得面對瞬息萬變的環境競爭因素。 資通訊科技服務係為國家基礎建設，資通訊服務是伴隨著商業應用需求而來。繼電子、資訊及通訊產品發展成為占有台灣高達3成外銷比重之後，政府已將資訊服務業列入重點推動產業，期許能在既有的硬體產業優勢下，結合資訊服務業者於軟體質量的提升，打造台灣核心競爭優勢。尤其是資訊服務產業中占比重最高之系統整合業者，應如何建立核心競爭優勢，推出具競爭力的產品服務，建立與產業客戶的長期合作關係，並確保在利基市場上的交易競爭優勢，以求獲利與永續經營發展，是值得關切的議題。 本論文分析架構係以交易成本理論和策略行銷4C理論為基礎，以A公司個案分析為主軸。透過探討A公司發展歷程中如何建立4C行銷策略優勢，包括如何降低客戶之C1：外顯單位效益成本、C2：資訊搜尋成本、C3：道德危機成本，以及運用C4：專屬陷入成本等，以建立市場行銷優勢，並運用4C優勢，建立良性之4C循環，以求長期經營發展。A公司之行銷策略將可提供類似規模與背景的資訊服務業者參考之用。 研究分析A公司個案後，發現其4C循環策略為，建立C1優勢加強競爭力，藉由與C3優勢強者合作拓展通路以降低C2，在客戶端建立有利的C3和C4，並為符合客戶之C1需求，再強化C1之產品效用，建立更強的C3和C4；但其中最為注重C1，因為C1是競爭力的來源，是構成其他3個C的支撐點。 朝聚焦策略發展，並做好基礎技術研發和國際品質認證等基本功；對產品有明確之STP（Segmentation, Target, Positioning），並掌握市場動向之洞察力（street-smart insight），以對的產品切入對的市場（do it right），形成有利的4C循環，才能夠維持優於同業之表現。並在穩健創新經營原則下，掌握利基市場，因時因地制宜的運用4C行銷策略，才能確保4C競爭優勢。 / The advancement of Taiwan IT services is derived from the business needs for information service to solve duplicate activities and complicate management problems, and also contributed by the industrial competitions from foreign IT service companies’ entering Taiwan market. In Taiwan IT service industry there widely exist endowment problems like small operation capital, limited resources, vague supply chains, etc., and environmental challenges, such as the small domestic market, low industrial barrier, furious competitions, etc., and furthermore, there are changeable competition factors in exploring international markets. ICT services are the fundamental national infrastructure, and are accompanied by business application needs. As we know, electronic, information and communication products account for more than 30% of Taiwan exports. After this, with the expectation to create the core competitive strength for Taiwan, IT service industry is one of the key promotion targets chosen by the government, to combine the current hardware industrial strength with the upgrade of software quality and volume. Especially for system integration services, the majority type of IT service industry, it is always worthy to study how to build up its core competence, launch competitive product services, and establish long-term relationship with customers to ensure transaction strength in the niche market, gain profits and sustain for long. The research is based on the analysis framework of transaction cost theory, and strategic marketing 4C theory. The case study：Company A is the axis. By researching the development of Company A, to find how it can accumulate 4C strength, including how to lower customers’ external cost on utility, cost of information searches, cost of moral hazards, and better use cost of assets specificity to enter positive 4C cycles in the long run. Its marketing strategy can be used as a reference for the similar IT service companies. The finding of Company A’s 4C cycles is that, build up C1 power to strengthen its competitiveness, by alliance with C3 power enabled partners to lower C2, and establish customers positive C3 and C4. In the meantime, in accordance with the customer’s C1 needs to enforce the utility of C1, there is C3 and C4 competitiveness strengthened furthermore. Above all, it is suggested to focus on C1, and be aware that C1 is the source of competitiveness, and the leverage of other 3Cs. Deploy focus strategy, and elaborate the basic techniques of fundamental technology research and international quality assurance, with specific product STP（Segmentation, Target, Positioning）, street-smart insight and do-it-right, will form positive 4C cycles, which can result in better performance in the industry. Under the stable, innovative operation principles, catch niche markets and use strategic marketing 4C deliberately to ensure 4C competitive strength.