我國傳統產業的發展由早期台灣經濟的中流砥柱，歷經產業變革、環保意識抬頭打壓後，至今被戲稱為「夕陽產業」，主因為產品生命週期進入低毛利成熟期。大部分傳統產業廠家積極尋求多角化轉型以突破困境，但在無法抽離製造代工心態下，積極投入非核心相關領域，無非是落入另一紅海。目前支撐台灣主要經濟命脈產業仍以資訊科技業為主，傳統產業雖非主流，但改變製造心態，堅持投入核心技術研發仍能伺機尋求切入點。 然而，過去強調創新升級轉型的研究不勝枚舉，但鮮少以國內傳統產業模範廠商為個案進行完整詳細地分析，基於此點，本研究針對我國傳統產業廠商「多角化」進行研究，以企業核心資源為基礎，試圖以較為整體性的架構，探討其多角化之相關議題，期能對「傳統產業多角化」，提供一些實務上與學理上的貢獻。 本研究之研究問題有五：（1）傳統產業廠商多角化的動機為何？（2）傳統產業廠商如何進行多角化？（3）傳統產業廠商企業核心資源為何？（4）傳統產業廠商多角化過程中新產品開發流程為何？（5）傳統產業廠商多角化後的新創組織作法為何？ 透過深度訪談個案公司高階經理人，並配合相關次級資料蒐集與整理，進行彙整及分析之後，本研究獲得以下之主要結論：（1）企業核心資源中之個人專長能力的展現為多角化轉型基礎；（2）創新研發過程中，知識資源的累積是技術發展的原動力；（3）順暢的組織內部溝通有助於新產品或新事業的發展；（4）對新產品開發而言，技術資源的彈性運用與高度整合有利於發展新事業；（5）以創新研發為導向之企業與智慧財產權之管理具高度關聯性。 / The domestic conventional industries were the mainstay of Taiwan economics. Because of the transformation of industries and then suffered from the lift of environmental consciousness. It ultimately turned to be the so-called “Sunset Industries”. The root cause was the low margin profit in mature stage of product life cycle. Most of conventional industries firms strove to break through the hardship by diversification. Not to withdraw the ideology from OEM mindset, the conventional industry firms invested in non-core relevant businesses painstakingly. It was just trapped to another red sea. For the moment, the dominant anchor of Taiwan economics was information technologies not the conventional industries. Nevertheless, just switched the manufacturing viewpoint and persevered to the development of core technologies to look for the niche points. Although, the studies in the past focused on innovative upgrading transformation were too numerous and there was scarcely to portray the leading company elaborately in domestic conventional industries. Based on this concept, the thesis paid attention to the study of diversification of domestic conventional industries. Endeavor to apply the comprehensive framework which was founded on the core resources of enterprises and discussed the correlative issues of diversification. Looking forward to the diversification of conventional industries could facilitate the contributions in practical and theoretical domain. The study aimed to investigate the questions: (1) What were the motivations drove the conventional industry firms to diversify? (2) How the conventional industry firms to execute the diversification? (3) What were the core resources of conventional industry firms? (4) What was the procedure of new product development in conventional industry firms during the duration of diversification? (5) What were the practices to construct the new business unit after diversification in conventional industry firms? This study exerted the deep interview methodology of qualitative researches and secondary data analyses to rearrange. The preliminary research findings included: (1) The performance of individual capability in enterprise core resources was the foundation of diversification. (2) During the innovative R&D process, the accumulation of knowledge resource was the motivation of technology of development. (3) The fluent communication in organization was conducive to develop the new products or new businesses. (4) As far as the new product development was concerned, the flexible exertion and high integration of technology resources was favorable for integrating and exploring new businesses. (5) Innovative R&D oriented enterprises were in high connection with management of intellectual property rights.

Små och medelstora företag är betydelsefulla för en växande ekonomi och utgör 99 % av samtliga företag i Sverige. Nya idéer och innovationer skapas ofta av småföretag som växer snabbt vilket ger incitament till att skapa en miljö som bidrar till att små och medelstora företag kan driva, innovera och skapa nödvändiga jobb. Små och medelstora företag spelar därför en betydande roll för sysselsättningen och ekonomin som helhet vilket gör studier på detta område relevant. Små och medelstora företag står inför ett flertal svårigheter jämfört med större företag. En faktor som påverkar företagens möjlighet till att växa är en begränsad tillgång till finansiering. Större företag är mer benägna att låna pengar vilket också denresursbaserade teorin förutspår. Tillgång till finansiering kan ses som en konkurrensfördel och leder till fler investeringar vilket stimulerar tillväxten och därmed sysselsättningen.Resursbaserade teorin utgår från konkurrenskraftiga resurser hos företag och kommer att i denna studie att användas till att identifiera företagsspecifika faktorer som på något sätt kan förklara sysselsättningen hos små och medelstora företag. Studien inriktar sig på hotellbranschen med restaurangverksamhet på den svenska marknaden. I uppsatsen undersöksdet hur skuldsättningsgraden, tillväxten, storleken, ålder och fördröjd variabel av antal anställda påverkar antalet anställda. Studien baseras på en kvantitativ undersökning med deduktivt angreppssätt över tidsperioden 2008 till 2016. Resultatet redovisas i en univariat analys i form av deskriptiv statistik, bivariat analys bestående av en korrelationsanalys samt en multivariat analys i form av en regressionsanalys. Det empiriska resultatet indikerar på att större företag med högre skuldsättningsgrad är mer benägna att anställda fler. En slutsats är att tillgången till ekonomiska resurser ger företagen konkurrensfördelar, fler möjligheter att överleva, tillväxt och ökad efterfråga på arbetskraft. / Small and medium-sized enterprise are important for a growing economy and make up 99% of all companies in Sweden. New ideas and innovations are often created by small businesses that grow fast, which gives incentives to create a platform that helps small and medium-sized enterprises drive, innovate and create necessary jobs. Small and medium-sized enterprisestherefore play a significant role in employment and the economy as a whole, which makes studies in this area relevant. The companies face a number of difficulties compared with larger companies. A factor that affect small and medium-sized enterprises ability to grow is a limited access to funding. Larger companies are more likely to borrow money, which also predicts the resource-based theory. Access to finance can be seen as a competitive advantageand leads to more investment, stimulating growth and hence employment.Based on the resource-based theory of competitiveness of a company, this study will be used to identify company specific factors that in some way can explain the employment of small and medium-sized enterprises. The study focuses on the hotel industry with restaurant activities in the Swedish market. The paper examines how debt, growth, size, age and lagged variable of the number of employees affects the number of employees. The study is based ona quantitative study with a deductive approach over the period 2008 to 2016. The result is presented in a univariate analysis in the form of descriptive statistics, bivariate analysis consisting of a correlation analysis and a multivariate analysis in the form of a regression analysis. The empirical result indicates that larger companies with higher debt ratios are more likely to employ more. One conclusion is that access to financial resources gives businesses competitive advantages, more opportunities for survival, growth and increased demand for labor.

Denna studie syftar till att undersöka sambandet mellan målet med en investering och en beslutsfattares val av kapitalbudgeteringstekniker i medelstora företag. Vidare har beslutsfattarens humankapital lagts till som modererande faktor för att kontrollera dess påverkan på det generella sambandet mellan målet med en investering och valet av kapitalbudgeteringstekniker. Baserat på 51 kvantitativa svar från beslutsfattare i medelstora företag visar resultatet att valet av kapitalbudgeteringstekniker varierar beroende på vilket mål investeringen syftar till att uppfylla medan beslutsfattarens humankapital inte visat någon modererande effekt. Vidare bidrar studien med en alternativ uppdelning av kapitalbudgeteringstekniker som frångår den teoretiska uppdelningen, en uppdelning som är mer praktiskt orienterad och ser till intressenters målsättningar. / This study aims to explore the relationship between the target goal of an investment and the choice of capital budgeting techniques made by decisionmakers in medium-size companies. Furthermore, the decisionmaker’s human capital has been added as a moderating factor to control for its impact on the general relationship between the goal of an investment and the choice of capital budgeting techniques. Based on 51 questionnaires from decisionmakers in medium- size companies, the results show that the choice of capital budgeting techniques varies depending on the target goal of the investment, where shareholders generally chose sophisticated techniques and stakeholders tend to use the unsophisticated techniques. Contrastively, the decisionmaker’s human capital shows no moderating effect. Finally, this study provides an alternative structuring of capital budgeting techniques incongruent with theoretical approaches, one that is more practically oriented and conscientious of the end target of interested parties.

This paper analyses the factors associated with the competitive success of MSMEs in Peru. A qualitative research was carried out with a sample of 94 companies with more than 5 employees. Factors for competitive success are studied from the perspective of the resource-based theory. Results show that MSMEs that develop a more complete management control system and have more efficient human resources practices have a better chance to succeed in a competitive market. These results are especially useful for MSMEs managers and governmental directors in order to promote and design strategies and policies that promote the growth and competitiveness of MSMEs. / En este artículo, se analizan los factores asociados al éxito competitivo de las mipymes peruanas, con una muestra de 94 empresas, con más de cinco trabajadores. Los factores de éxito competitivo se estudian desde la perspectiva de la teoría de los recursos y capacidades de las empresas. Los resultados muestran que, conforme las mipymes tengan implantados sistemas de control de gestión más desarrollados y que apliquen prácticas de gestión de sus recursos humanos más eficientes, mayor será la probabilidad de tener éxito en el mercado. Los resultados son especialmente útiles para los gerentes de las mipymes y los organismos de fomento de dichas instituciones para que puedan diseñar y promover estrategias y políticas que favorezcan el crecimiento y competitividad de la mipyme. / Este artigo analisa os fatores associados ao sucesso competitivo das MPMEs peruanas Uma pesquisa qualitativa foi realizada com uma amostra de 94 empresas com mais de cinco funcionários. Os fatores de sucesso competitivos são estudados a partir da perspectiva da teoria de recursos e capacidades da empresa. Os resultados mostram que as MPMEs que desenvolvem um sistema de controle de gestão completo e têm práticas de recursos humanos mais eficientes têm mais chances de ter sucesso em um mercado competitivo. Os resultados são especialmente úteis para os gestores das MPMEs e das agências de promoção de tais instituições, para que possam conceber e promover estratégias e políticas que promovam o crescimento e a competitividade das MPMEs.

既有文獻指出企業從事社會責任活動能帶來諸多經濟效益，然而企業也必須承擔相關的成本來進行社會責任活動。本研究探討公司在成本考量上，如何配置財務及非財務資源來進行企業社會責任活動。我們進一步討論當企業面對財務限制時，策略性的資源配置如何對企業社會責任之績效產生影響。本研究使用公司層面的企業社會績效和財報資料，資料期間為1991至2015年。藉由迴歸分析並且控制產業及修正群聚效果下，實證結果發現：研發活動對於企業社會責任績效有顯著正向的關聯，而公司的併購支出顯著地負向影響企業之正面及負面企業社會績效，資本支出則對負面企業社會責任績效有顯著的負向關係。就內部流動性資源運用的結果我們發現：現金對企業社會責任之績效表現並無顯著的關聯，此結果隱含公司在資金運用上傾向於配置少部份現金資源以資助企業社會責任活動；然而淨營運資金與企業社會績效呈現顯著負向關聯，意味著公司會使用淨營運資金來資助企業社會責任活動。最後透過對公司個體財務限制的衡量，實證結果顯示當公司面對財務寬鬆時，投入研發活動成本有助於加強研發成本與企業社會績效表現之正向關係，結果更意味著當公司面臨財務寬鬆時，較容易將社會績效納入考量。 / While the existing is fully aware of the diverse economic benefits that are brought about when firms engage in corporate social responsible (CSR), it also warns about the associated costs of all kinds. Using panel data obtained from MSCI ESG and Compustat for 4,160 U.S. public-listed firms from 1991 to 2015, we investigate what impacts the firms’ allocation of financial and non-financial resources would have on the implementation of their CSR, when knowing that CSR can be costly. Our main empirical findings are threefold. First, we find that firms’ R&D intensity is positively related to their corporate social performance (CSP). Capital expenditure is significantly negatively related to CSP concerns; and firms’ involvement in acquisitions is negatively related to both their CSP strengths and concerns. Second, firms’ implementation of CSR activities is found to be seldom cash-intensive, in fact, we document firms’ moderate usage of cash and short-term investments on the implementation of CSR relative to other investments activities. However, the noncash networking capital show significantly negative effects with CSP, revealing that firms use noncash networking capital to implement CSR activities. Third, the positive relationship between R&D intensity and CSP is further enhanced when firms are free without financial constraints, and we argue that firms take more concern on social issue/performance when facing financial slack.

Digitalization is an important aspect for future growth of all organizations, and especially in times like the past year where most of the world has been faced with covid-restrictions and lockdown. Dermarome is a leading skincare and beauty distributor and are currently in the process of launching a new B2B website and web-shop. The aim of this research is to provide an answer to the following interrelated research questions:   1. How do the management of Dermarome decide on their investments in the business- to- business IT infrastructure?    2. How will the launch of the business- to- business website affect the purchasing behaviour of the business- to- business customers?    To answer these research questions a qualitative study has been made and the top management at Dermarome has been interviewed for this purpose. 5 interviewees were selected based on their knowledge and experience. All interviews that participated in this research were anonymous.    The result of this thesis is divided up into two parts, firstly, it describes how Dermarome has used the Payback rule and SWOT in order to make a decision regarding the investment in the B2B website. Secondly, it describes how Dermarome believes the saloon and spa customers purchasing behaviour will change due to this website, as it will lead to an increase in Dermarome’s sales.

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2015年4月殼牌公司收購英國天然氣集團案，凸顯石油價格修正已重塑全球油氣產業版圖。而根據2015年英國石油公司統計資料顯示，傳統方式開採生產的石油及天然氣尚有50-60年的可開採年限；若加上非傳統方式開採生產的石油及天然氣則可開採年限將至少倍增。油氣探採產業具有技術門檻高、經營風險高、投資金額高、作業時間長的特性。從長期獲利能力來看，油氣探採部門的績效一直是各大國際石油公司主要利潤來源，惟其營業利潤受國際油氣價格的起伏直接連動影響。個案公司油氣探採部門海外投資近年來成功取得美國、印尼、剛果及澳大利亞等地區的探勘新礦區，並與國際油公司在全球10 個國家25 處礦區有合作探採案；其中包括厄瓜多、印尼、尼日以及澳大利亞等具有油氣生產的礦區，歷年累計油氣生產績效卓越。 由於非傳統油氣之一的頁岩油氣開採技術進步，大幅提升美國油氣產量，OPEC產油國為維持市場占有率並未減產，加上全球經濟成長減緩，造成明顯的供過於求趨勢，影響近期油價呈現相對低檔。本研究以產業分析及SWOT分析等理論著手，探討目前經營環境的機會及風險，藉以擬定公司層級的策略方向並檢視成熟期產業環境下的競爭內涵，再從資源基礎論、經營選擇策略、管控流程風險，探討企業長期競爭優勢。 　　本研究經與個案公司海外分公司高階經理及總公司資深部門主管進行深入訪談方式，並且參酌公開的期刊、論文報告與網站資訊，進一步對照研究相關理論分析與個案公司實務案例，結果證實在運用購買LNG整合上下游投資、國際大油公司的策略聯盟、流程管控海外投資風險等均有助於提升競爭優勢，足以提供產業參考；同時建議後續研究個案公司落實平衡計分卡學習成長構面的相關要項，加強策略核心組織的競爭力，輔佐策略的執行，俾能提昇企業未來經營競爭力，達到永續經營之目的。 / The acquisition of BG Group by Royal Dutch Shell in April 2015 was the latest sign of how the slumping oil prices are reshuffling the global upstream petroleum business. BP’s Statistical Review of World Energy 2015 depicts that the reserves to production ratio is about 50 to 60 years for conventional petroleum resources, while this number almost doubles up for unconventional petroleum resources. The characteristics of upstream petroleum industry are the high technical threshold, high operational risk, highly capital-intensive investment, and long operational life. From the perspective of long-term earning power, the performance of upstream petroleum business division always drives the profitability for all major integrated oil companies, notwithstanding the operational profit is under direct impact from the fluctuations of the global oil prices. The successful overseas investment from the Exploration and Production Business Division of the company under study include many exploration rights in the new assets from U.S.A., Indonesia, Congo, and Australia, as well as the joint operation projects with international oil companies at 25 locations in more than 10 countries from Ecuador, Indonesia, Niger, and Australia with excellent profitability over the years. The advances made in the shale oil and gas production technology brought the U.S.A. oil production to another peak, which coupled with OPEC's non-cutting oil production strategy and global economy slowdown triggerd the dive of global oil price. This study first explores the opportunity and risk under current business environment using industrial analysis and SWOT analysis to propose strategic planning on corporate level and evaluates the competition nucleus in a mature industry cycle; secondly, explores the long-term competitive advantage of the company through Resource-Based Theory, Strategic Positioning, and Risk Management and Process Control. Through in-depth interviews with senior management from overseas division and headquarters office of the study company, published periodicals, journals, and web information, along with various related research analyses and company case studies, this study demonstrates the combination of liquefied natural gas (LNG) purchase contract with the acquisition of participating interest in LNG development project as a means of vertical supply chain investment, strategic alliance with international oil companies, and using risk management and process control on overseas investment are all beneficial to increasing the competitive advantages. Suggested follow-up research of implementing Balanced Scorecard (BSC) to the Learning & Growth Perspective, promoting competitive power through Strategy-Focused Organization, and execution on assising strategies can increase future competitive advantages and accomplish the objectives in sustainable management.

本研究之個案公司其專業於微波通訊零組件之代理銷售，及配套完整測試方案之整合。目前公司市場範圍延伸至商用與消費性市場，且合作夥伴分佈在台灣、大陸甚至歐美各國。企業面對全球化競爭，若要在世界經濟舞台上扮演重要角色，其中關鍵成功因素之一就是供應鏈夥伴建立緊密的關係。 以本研究之個案公司而言，其專業於微波通訊零組件之代理銷售，及配套完整測試方案之整合。近年來行動世代的崛起，更加速無線射頻通訊技術的革新，目前公司市場範圍延伸至商用與消費性市場，且合作夥伴分佈在台灣、大陸甚至歐美各國，因此供應商與客戶之間的合作與公司策略有密不可分的關係。 本研究藉由個案分析方法，得到以下結論：(一)供應商攻入客戶需掌握的要點，包括己之能力與價值、客戶需求、與客戶達成之共識並發展解決方案、服務之擴大與產品之提升。（二）供應商對於穩固客戶關係需考量之因素，包括產品品質、產品價格、產品交期、服務與信賴關係、進入障礙。 透過本研究結果作為供應商訂定營業策略時的參考，藉以提升供應商能力，增加攻入客戶的機會，並加強客戶與供應商的互動，提高客戶忠誠度並維繫客戶關係，以期獲致最大利益。 / The case company specialize in sale agent in microwave communications components, and supporting complete solution. Currently, the company extend its marketing range to the commercial and consumer markets, it has partners in Taiwan, mainland China, Europe and the United States. Companies face global competition, each of them wants to play an important role on the world economic stage. The key is to establish a close relationship to supply chain partners. This study explores how the case company meets clients needs by their own ability and value on the basis of Resource-Based theory. The relationship between companies and their clients is a special “strategic partnership”. The relationship let company make good use of the core competitiveness in procurement process, maintain a dominant position, thereby affect the clients or industry. This study using case analysis has the following conclusions: (a) There are five points in establishing relationships with clients by supplier, including “our own ability and value”, “clients need”, “the consensus with clients and develop solutions with clients” and “expand the services and products”. (b) There are five points in solidifying relationships with clients by supplier, including “product quality”, “product price”, “product delivery”, “service and relationship of trust”, “barriers to entry”. Suppliers can formulate strategies through the conclusion to enhance its capability, increase the chance of establishing clients, enhance interaction between clients and suppliers, increase clients loyalty, maintain relationship with clients and earn more profit.