證券業服務創新與變革管理之探討 -以寶來證券為例

The Innovation and Change Management for Security Industry—A Case Study of Polaris Security

蔡青芬(Ching-Fen Tsai)

指導教授 ： 黃崇興 ； 廖咸興

國立臺灣大學/管理學院/財務金融組/碩士(2014年)

https://doi.org/10.6342/NTU.2014.00420

摘要

台灣的資本市場從1962年證券交易所成立後，歷經不少政治與經濟環境變遷的挑戰。在市場上扮演重要角色的證券公司，為因應市場的變化也有許多經營層面的創新。但真正帶來經營結構改變的，是網際網路的發展所帶來的衝擊。對證券公司來說，不僅僅只是導入網路下單的介面，證券公司的內部業務運作方式的轉變，包含創新金融商品的研發等，可說是前所未有的過程。寶來證券（現已併入元大）是台灣證券業進行這方面變革的翹楚，因此本研究透過寶來證券案例的研究，揭櫫台灣的證券公司因應網際網路發展的創新與變革議題。
寶來證券的創新措施分四個構面：產品創新面乃是推出多元的新金融商品；溝通創新則是透過網際網路改變與投資人的溝通方式；在業務創新面除了推出新的金融商品業務外，也為推廣網路下單方式，推出手續費折讓的創新作法；而流程創新面則在培養財務工程人才、透過網站與顧客溝通流程及自建資訊系統能力。
寶來證券推動變革的模式是結合E-O兩個理論並行，在不同構面會依照產業運作的特性，以及公司經營的現實情況，去做適合的調整。在「目標」設定與「領導方式」上，較似採取E理論的方式來實施；「重心」與「程序」上，則以E理論與O理論兼顧；而「報酬制度」與營業員息息相關，較符合O理論的變革思維。

關鍵字

寶來證券 ； E-O理論 ； 創新管理 ； 變革管理 ； 證券業

並列摘要

Taiwan’s capital markets started from 1962 have faced numerous challenges from the changing political and economic realms. The securities trading companies play an important role in the capital markets, and they have made many operational innovations to accommodate the many changes in the markets. But the most important factor that made them change their operations structure was the Internet. To a securities trading company, not only the revolution of online trading, but also the related transformation of internal operations, as well as innovations in financial products, were paradigm-changing occurrences. Polaris Security (which has since merged with Yuanta Financial) pioneered such sweeping changes in Taiwan’s securities industry. This case study examines how Taiwan’s securities trading companies accommodated the innovations and transformations of the internet, by examining the developments that occurred at Polaris, in response to the rise of the most powerful and world-shaking technology of the last twenty or so years, the web.
There are four aspects of Polaris’s securities innovation management. The first, product innovation, was exemplified by the introduction of many new finance products to the market. The second aspect, communication innovation, involved changing the way Polaris communicated with its customers (the company developed an online trading system). The third, business innovation, was characterized by the launch of a marketing campaign, which provided a discount on commission charges. Lastly, process innovation occurred in the form of Polaris’s grooming of the most talented financial, engineering, and IT personnel, as well as communicating with customers in new ways, via the internet.
The method of change management used by Polaris Securities was a combination of the ‘hard approach’, theory E, and ‘the soft approach’, theory O. Polaris adjusted this joining of theories E and O as needed, based on industry-specific characteristics, and the actual, ‘facts-on-the-ground’ of the operational situation. Regarding goal and leadership aspects, Polaris’s change management aligns more with theory E. With regard to focus and process aspects, Polaris’s ‘stewardship of variance’ combined the concepts of theory E and theory O. Lastly, as far as reward system, it would seem to be part of the ‘soft approach’, theory O, in its goal of supporting and developing Polaris’s employees.

並列關鍵字

Polaris Security ； change theory E ； change theory O ； innovation management ； change management ； securities industry

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