本研究係針對台灣軟性銅箔基板產業進行產業結構、產業現況和產業上、下游進行瞭解，佐以五力分析，了解現今台灣軟性銅箔基板產業的结構，同時以個案研究的方式收集資料，和個案部門之中、高階主管進行深度訪談，分析個案公司在多角化營運中，跨入軟性銅箔基板產業的策略及競爭力，並為個案公司研擬未来之經營策略及產品發展方向。 本研究想要探討之主要議題在於： 1.個案公司在多角化經營策略下，跨入軟性銅箔基板產業之競爭力分析。 2.為個案公司在未来經營策略及產品發展方向上提出建言。 本研究透過五力分析與SWOT分析，嚐試去解讀軟性銅箔基板在產業內與個案S公司面臨的問題與現況。從五力分析可以得知，產業對於新進入者，其實在技術與資金門檻都偏高，阻絕了新進者的跨入；產業內競爭、原材料變化大、技術掌握等問題，加深內部的競爭性與經營的困難度；同等級替代品不顯著，通常仍以技術延續性的產品替代居多；對於客戶的轉換成本低，容易因價格與技術等服務需求，而有廠商替代的問題；因為供應商都屬於材料大廠，增加議價的困難。因為產業內的競爭態勢，也增加個案公司經營該產品的難度，可從SWOT分析則可確認其優劣勢。 經營策略的分析則從：產品線廣度與特色、目標市場之區隔與選擇、垂直整合程度、相對規模與規模經濟、地理涵蓋範圍、競爭優勢等，這幾個面向分析，深入了解個案公司光電材料事業部之經營策略與競爭力；最後，再從產品開發方向、引進外部資源、以及組織重整三方面，提供個案公司經營策略方面的改進建議。

印刷電路板產業被稱為「電子系統產品之母」，在我國工業中扮演極為重要的角色，而銅箔基板為印刷電路板生產製造所需之最主要原料，其不僅對印刷電路板產品之品質有很大的影響，也在其材料成本中佔最高的比重。銅箔基板產業上承樹脂、銅箔及玻纖布等原物料供應鏈，下接印刷電路板之製造，居印刷電路板產業鏈之樞紐位置，其重要性不言可喻。 歷經長期的發展，銅箔基板產業已逐漸由成長期步入成熟期，產業的競爭也已趨於白熱化。近年來的產業環境變化，如四C(電腦、通訊、消費性電子與汽車)產業的蓬勃發展、環保意識抬頭及其相關法令政策的制、修訂、大陸世界工廠的成形、以及業界的垂直整併與規模擴張等，除對業者造成衝擊與挑戰外，也帶來了新的機會，如何掌握機會並因應挑戰？考驗著經營者的智慧。 本研究採個案研究方式探討台灣銅箔基板產業之經營策略，首先檢視產業之外部環境，其中並以Porter之五力分析模型進行產業的結構與競爭分析，再彙整出外部環境變化所產生的機會與威脅；其次，透過資料蒐集及深度訪談方式，探討個案公司過去之經營策略與績效、其組織之策略困擾及挑戰、與其內部優、劣勢後，提出研究者對該公司經營策略的觀察與建議。也期望藉本個案研究可以讓台灣的銅箔基板廠商對整體外部環境之變化有更進一步的了解，並可供作其審視組織內部優、劣勢，及擬定經營策略時之參考。 關鍵詞：「印刷電路板」、「銅箔基板」、「經營策略」、「五力分析」、「SWOT分析」 / The printed circuit board (PCB) industry is called “the mother of the products of electronic systems” and plays a very important role in Taiwan’s industry. Copper clad laminate (CCL) is the most essential material necessary to the manufacturing of the PCB. It’s not only strongly related to the quality of the PCB products, but also accounts for the maximum proportion of the material cost. The CCL industry succeeds to the supply chain of materials such as resin, copper and glass cloth and connects with the production of PCB. It’s situated at the pivot position of the PCB industry and the importance of CCL industry is self-evident. After long-term development, CCL industry has gradually stepped into the “maturity stage” from the “growth stage” and the competition in this industry has become intense. The recent changes in the industry environment such as the prosperous development of the 4C industries (Computer, Communication, Consumer electronics and Car), environtal consciousness gaining ground and leading to the legislation and amendment of the related ordinances and policies, the forming of China as the world factory, the industrial vertical integration and scale-up expansion etc. not only result in the impact and challenges but also bring in new opportunities. How to grasp the opportunities and respond to the impact challenges the wisdom of the senior management. The business strategy of Taiwan’s CCL industry was looked into by means of case study in this present research. Firstly, the external environment of the industry was examined among which Poter’s five forces framework was used to analyze the industry structure and the competition inside. Then, the threats and opportunities resulted from the changes of external environment were summarized. Secondly, the case company’s business strategies and achievements in the past, the bother and the challenges of the organization in strategy formulation, the internal strengths and weaknesses of the corporate were investigated via data collection and depth interview. Eventually the observations and suggestions on the business strategy of the case company were addressed. It is hoped that this research could provide Taiwan’s CCL manufacturers with a further understanding to the changes of external environment and serve as a reference resource while the manufacturers examine their strengths and weaknesses and formulate their business strategies. Key Phrase: PCB, CCL, Business Strategy, Five Forces Analysis, SWOT Analysis