產業轉折點與廠商持續性成長策略： 台灣電子業廠商的個案研究

Growth Strategies at Industry Inflection Points: A Case Study on Taiwanese Electronics Manufacturers

江進元(Chin-Yuan Chiang)

指導教授 ： 李吉仁

國立臺灣大學/管理學院/高階公共管理組/碩士(2008年)

https://doi.org/10.6342/NTU.2008.00616

摘要

台灣企業在全球科技繁榮的階段成功地以代工和低成本的策略，經過長期的努力與群聚效應，已在世界的電子產業中取得舉足輕重的地位，也使得電子產業成為台灣的經濟重心。然而，2000年以後由於新興國家的崛起與全球化，特別是中國『世界工廠』的影響，全球的產業結構開始產生巨大的變化，也使得台灣企業持續成長的動能面臨很大的挑戰。本研究主要的目的在探討企業在產業生命週期演變的軌跡裡，如何因應產業轉折點的環境變化與如何建立持續性的成長策略，期望能提供台灣企業在動態環境中能夠創造出持續的成長的動能。
本研究首先檢視產業與企業生命週期、有機成長與併購成長、以及策略轉折點的相關文獻，然後進一步探討近年來台灣電子產業持續高成長的上市櫃公司的成長與獲利的模式與結構，並了解這些公司對於產業轉折與變化的機會與核心資產價值變化，以及所謂『一代拳王』式的成長困境。接著，本研究針對宏達電的成長歷程進行個案深度的檢視，以建立企業面對PDA產業策略轉折點的因應策略與思維。
面對產業變化快速的環境，本研究建議企業應首先應建立系統性的思考持續性成長策略與產業的變化，如環境訊息的觀察、檢視產業與客戶可能的變化與影響、建立一些先期的觀察指標、觀察轉折點的變化大小與可能的時間點等。其次，對執行與制定持續性成長策略的關鍵元素的變化也要充分掌握，如核心資產、時間與節奏、資源等。在制定持續成長策略時必須充分了解策略的轉折點，並預測下一個戰場，也就是未來的客戶、競爭，同時制定價值策略，最後，選定策略的反應時序，以完成整個策略的制定。在執行上也要思考以內在組織方式，如內部組織、成立新組織、組織重組，或外在組織方式，如創投、企業投資、併購，審慎選擇執行方式。
同時，在進行策略決策時，企業會面臨眼前黃金與未來金礦的兩難困境，與贏家詛咒的問題，本研究建議企業在面對這些問題時，企業家必須建立管理信用資產與善用外部資源和不斷的反覆檢討，才能避開這些問題與困境。

關鍵字

成長策略 ； 策略轉折點 ； 產業生命週期 ； 企業生命週期

並列摘要

Taiwanese companies have successfully played a key supplier role in the world electronics industry through OEM/ODM Models based on low cost and efficiency strategies and the industry cluster effect. However, since the year of 2000, the global industrial structure started to change due to the increasing competitiveness in manufacturing from China and the extent of globalization which exerts a great pressure to Taiwanese companies’ continuous growth.
The purpose of this study is to discuss how firms can sustain their growth at the industry inflection points from which the industry structure is supposed to be changed and the existing niches would be eroded. After a thorough review on the extant literature of growth strategies, industry life cycle and company life cycle, among others, our study conducts a systematic evaluation on the growth patterns of all electronics manufacturers listed in the Taiwan Stock Exchange Market. Next, we characterize the changes of the core asset in these companies when they faced industrial transitions and change opportunities, as well as decision dilemma experienced by the so-called “one shot champion” companies. Finally, based on our systematic assessments, we conducted an in-depth case study on a highly successful company, HTC, regarding how this company went through industry inflection points and kept sustainable growth until now.
Building upon both quantitative and qualitative research results, we suggest companies first to establish systematic thinking concerning the nature of industrial changes and the characteristics of inflection points and then formulate sustainable growth strategies following the changes of core assets, time and rhythm, resources and so on. In order to successfully formulate a sustainable growth strategy, the firm must master the essence of strategy at inflection points, forecast the next battlefield, the future customers, the competition, as well as value strategies. Once formulating it, the timing of strategy execution is designated to complete an entire strategy. To succeed in execution, a firm has to define an adequate organizational context for implementing the strategy, either by internally developed organizations or by an external organization, such as venture capital investments, corporate venture investments, as well as merger and acquisition. However, the company will face decision dilemmas concerning the tradeoff between short-term benefits and long-term advantages and the situation of winner’s curse will very likely occur. We suggest that the company must establish management credits as an asset and fully utilize external organization resources to avoid the above mentioned problems.

並列關鍵字

Growth Strategy ； Inflection Point ； Industry Life Cycle ； Company Life Cycle

參考文獻

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