德國企業在臺合資與併購之研究

德國的企業重視經營的模式與企業的傳承，對於職員教育訓練更是花費不手軟。原廠總部技術日益精進，加上員工受訓扎實，對於產品的服務與說明就更加有說服力，而在經營績效上產生巨大幫助。近年來，德國經營管理與創新的產品開發，愈來越被世界推崇，尤其是德國的隱形冠軍的企業，更是早已經行銷全世界。亞洲市場潛力日益興盛，德國企業對於亞洲地區的重視也逐漸提升。台灣是德國在亞洲的第五大貿易夥伴，除了擴展市場的需求以外，更是把台灣當作是未來經營亞洲市場的跳板。且在機械業與服務業方面，德國對台灣的投資採取的市場進入策略傾向合資或併購。德國企業對母公司產業向外擴展、進行合資及併購的成功案例越來越多，本研究主要以德資企業在臺進行合資與併購模式進行研究，探討德資企業經營模式成功之原因與要素。研究發現，德商在台灣創立子公司的方式，經由代理商銷售到採取合資或是併購模式，是重要的軌跡與方式。德商重視與執行有六大要點：（一）利基市場、（二）有製造業與機械業與產業鏈、（三）可作出口可作進口、（四）可作為進入中國的跳板、（五）易接受外來產品、（六）比起其他國家溝通較容易。且台灣與德國的經濟體相似，皆是以創新為導向的國家，德商的管理模式、經營策略、如何成功地進入台灣市場皆是我們學習的目標，研究結果也可供日後有意在海外投資營運的台商企業作為參考，期望台商能與德國企業一樣擁有將產品行銷到全世界的堅強實力。

關鍵字

合資；併購；德國企業

並列摘要

German enterprises consider operation and heritage to be very important, without hesitation in spending on the education and training of employees. Well-trained employees would make the company’s products and services more appealing and convincing, which result in superior business performance. In recent years, Germany’s innovative products and management has gained recognition over the world, especially for the so-called hidden champions of industries. The Asian market grows dramatically so that German enterprises can hardly ignore. As a matter of fact, Taiwan is Germany’s fifth largest trade partner in Asia. Not only is there a need to expand into the local market, but Taiwan is also a springboard to expand future business operations in Asia market. In this study, in the machinery and service industry, it is found that German enterpriser’s market entry strategy into Taiwan is frequently based on joint ventures, or mergers and acquisitions, while beginning their businesses with the assistance of local agents. This study is mainly focused on exploring the reasons antecedents to the success of German enterprises in Taiwan. The results show that German companies entered into Taiwan place great emphasis on: 1) market’s profitability, 2) manufacturing and machinery industries with industry clusters, 3) options between import or export, 4) the opportunity as a springboard to the greater Chinese market, 5) accessibility and acceptance of foreign products, and 6) comparatively easier communications than other countries. In addition, Taiwan has a similar economic structure as Germany, and both are innovation-oriented countries. Therefore, the management and business strategies that enable German companies successfully enter into Taiwan are exactly what we can learn from. This study can serve as a reference for Taiwanese companies on investing and expanding operations abroad. Hopefully, in the future Taiwan will be able to match the ability of German enterprises and market Taiwanese products all around the world in an better way.