Digital technologies have profoundly reshaped many industries in the past years and we are continuously witnessing the creation of new ventures designing and serving entirely new markets. At the heart of these initiatives lies decisions to act, take risk and pursue ideas in the form of entrepreneurial opportunities. Much of the research on the journey from ideas to market has advanced from the idea that entrepreneurial agency emerges at the nexus of individuals and opportunities. In most academic work, opportunities are either assumed to be exogenous to the individual or socially constructed. Despite many valuable contributions in the field, the construct as it has traditionally been used only accounts for and explains opportunities once they have been realized. Hence, the established perspectives fall short in informing our understanding of how individuals actually act and make decisions that lead up to the identification and exploitation of opportunities that lack tangible premises. The question is therefore, how do we define and understand entrepreneurial opportunities before they have been realized and how do we make the construct empirically operable? The present study challenges and extends the conventional views of entrepreneurial opportunities by investigating what they are and how they emerge and evolve over time. By drawing upon in-depth qualitative data from a longitudinal study of the new venture creation process of a digital TV and film production firm, the thesis provides a reconceptualization of the opportunity construct. External enablers, a new venture idea, a business model and opportunity confidence are suggested as components that clarify what aspiring entrepreneurs actually mean when they talk about opportunities. Departing from these components, the thesis provides a framework describing opportunity development as an iterative process evolving through modes of sensemaking, sensegiving and sensebreaking. This framework adds to entrepreneurial process studies by extending the individual-opportunity nexus to include the actions and interactions between the entrepreneurs and the external environment in which they operate. The results lay a foundation for future theorizing and empirical inquiry into the early stages of new venture creation.

數位娛樂產業為新型態產業，自2000 年數位元年起，全球各國無不積極推 動相關建設，期望帶動相關動畫、線上影音、數位遊戲等的整體發展。由於數位 內容關係到一般大眾有關生活上有關娛樂、文化、教育、出版等產業脈動，近幾 年迅速成為眾所期待的焦點。數位化娛樂從技術面開始帶動產業的革新，各種因 素相互發生變化，加上消費者行為發生變化的結果，使得企業發覺過往商業模式 有所不足。企業必須審視自身、重新界定價值才能抓住機會。台灣科技業實力堅 強，聞名於世；但是相對於日韓等國，數位娛樂產業之發展規模尚淺。然而數位 化議題日趨重要，相關發展機會如雨後春筍般出現，不得等閒視之。 本論文在文獻探討主題上，把焦點放在幾個重點：數位娛樂產業、商業模式、 商業模式創新。本研究試圖了解當今數位化趨勢與特徵為何，並從學者文獻中整 理理論架構，找出商業模式重要面向為何。接下來以任天堂與Sony Computer Entertainment 兩間公司為分析個案，描述兩間公司如何發展商業模式面對社群 遊戲挑戰，用以實證關於商業模式理論架構以及歸納個案產業特徵與發展特色。 最後，本研究歸納出以下結論：商業模式之建立以核心價值為中心，且核心 價值做為一切的基礎，不會隨意變動。企業應該妥善運用資源擺脫惰性，求新求 變，以靈活、充滿彈性的商業模式來發揮核心價值，因應挑戰。當環境條件允許 的情況下，企業便能夠以自身能力來改變環境，或者有時亦須被動地因應環境需 求做調整。最後，商業模式之建立為一連續過程，而在模式建立的過程中，產業 之間也有機會產生連結，進而合作，共創、共享價值。 關鍵字：數位娛樂產業、商業模式、電玩產業、任天堂、SCE、社群遊戲。 / Digital entertainment industry is a new style industry. Since 2000s, the first year of digital era, the whole world began to boost the related projects of the industry, and looked forward to drive the development of animations, online studios and digital games. Because digital contents have a lot to do with activities of general entertainment, culture, education and publishing, recently it has brought everyone’s eyes on it. Digital entertainment brought the innovation from the technique side, different elements started to have an effect on the others. What’s more, the change of consumer behavior made enterprises found that old business models are no longer apply to new environment. They needed to check themselves again and try to redefine their core value, so can they catch new chances. Technology industry in Taiwan is strong and world-famous. But when it comes to compare with Japan, Korea or other countries, development of digital entertainment industry is still in the beginning stage. However, digital issues are more important, opportunities also sprang up like mushrooms. It should not be treated lightly. This study has focused on several subjects: digital entertainment industry, business model and innovation of business models. First, the study had tried to realize the characteristic of current trend of digitization, and then tried to find out major factors of building business models by classification of research documents. Second, the study has chosen two target companies: Nintendo and Sony Company Entertainment as goal of analysis, and tried to tell how the two companies faced the challenges of social games and online games by developing their own business models. Thus, we can prove how the business model theories work and generalize the feature and characteristic of target industry. In the end, the study has conclusions as below: The establishment of business should be based on core value, and it is the foundation of everything and will never be changed easily. Companies need to use their resources by flexible applications to get rid of laziness, fully perform their core values by varied business models and face the challenges. With the availability of environment, enterprises can actively change the world by their own power, or they have to adjust themselves to adapt the circumstance. At last, Building of business model is a continuous process. When running a new model, there may be cooperation between different industries and different companies can create and share the value together. Key words: digital entertainment industry, business model, game industry, Nintendo, SCE, social game.