進階搜尋


下載電子全文  
系統識別號 U0026-2008201610283300
論文名稱(中文) 高度競爭產業下之整合策略選擇,以太陽能產業之茂迪公司為例
論文名稱(英文) Integration Strategies under the Highly Competitive Industry, the Solar Industry's Case Motech
校院名稱 成功大學
系所名稱(中) 高階管理碩士在職專班(EMBA)
系所名稱(英) Executive Master of Business Administration (EMBA)
學年度 104
學期 2
出版年 105
研究生(中文) 江一志
研究生(英文) Yi-Chih Chiang
電子信箱 icchiang.ncku@gmail.com
學號 R07024597
學位類別 碩士
語文別 中文
論文頁數 92頁
口試委員 口試委員-林正章
口試委員-張紹基
口試委員-柯冠成
指導教授-陳嬿如
中文關鍵字 太陽能  策略  整合  垂直整合  水平整合  高度競爭市場  資源限制  資源基礎  策略矩陣  區域性政策 
英文關鍵字 PV  photovoltaic  solar energy  strategy  business level strategy  integration  vertical integration  horizontal integration  highly competitive market  resource constraints  Resource-Based View  strategic matrix  regional policy 
學科別分類
中文摘要 本論文藉由理論探討與訪談太陽能產業相關高階經理人,來了解太陽能產業發展方向以及所需的競爭策略,特別是在產業獲利不易、資金及資源取得相對困難的當下,如何進行有效的發展策略。本研究目的為:一、探討太陽產業過往發展的策略以及其良窳。二、探討茂迪公司捨棄過往垂直整合策略進而轉向水平整合策略,此一策略動機以及其可預期之將來發展。深入訪談六位太陽能產業高階經理人以及一位太陽能產業研究員後發現:
一、 太陽能產業一直存在著高度競爭的當下,適當的整併是完全合乎預期的。
二、 太陽能產業中不論是考量垂直整合或是水平整合的策略,端視各公司資源與能力擇優執行之。
三、 以茂迪公司自身資源與能力,高度垂直發展容易削減公司可用資源,反易招致投資後無法得到預期綜效的結果。
四、 以茂迪公司在產業中的規模以及本身專長的半體體能力,適度在矽晶太陽能電池領域進行整併,可藉由規模經濟,有效地以相對節省之資源往新世代技術發展,進而持續在太陽能產業中保持相對領先。
英文摘要 ABSTRACT
Integration Strategies under the Highly Competitive Industry, the Solar Industry's Case Motech
CHIANG, YI-CHIH
Dr.CHEN,YENN-RU
National Chang Kung University
In this paper, theoretical discussion and interviews by the solar industry related high-level managers, to understand the solar energy industry development direction and strategy needed to compete, especially in industry profits is not easy, relatively difficult to obtain funds and resources of the moment, how to conduct effective development strategy. The purpose of this study: First, to explore the solar industry in the past development of strategies and their virtue or vice. Second, investigate Motech abandon past vertical integration strategy and further to the level of integration policy, this policy may be expected of motivation and its future development. In-depth interviews with six high-level solar energy industry executives and one solar energy industry researcher found:
First, the solar industry has been the existence of a highly competitive moment, appropriate integer and is fully in line with expectations.
Second, in the solar industry is considering whether vertical integration strategy or horizontal integration strategy, shall each company resources and the ability to choose the appropriate strategy to execution.
Third, Motech company's own resources and capabilities, a high degree of vertical development company easily consume available resources, but easily lead to not get the expected results after investment synergies.
Fourth, Motech scale in the industry and their own specialization semiconductor ability, appropriate M&A(mergers and acquisitions) in the silicon solar cells field, it may effectively saving resources by economies of scale, more focus on new technologies, and then can continued to maintain a relatively leader position in the solar industry.
Keywords: PV, photovoltaic, solar energy, strategy, business level strategy, integration, vertical integration, horizontal integration, highly competitive market, resource constraints, Resource-Based View, strategic matrix, regional policy.


INTRODUCTION
For recent years, due to the international financial crisis influence and changes in the general environment to make shallow dish markets Taiwan enterprises exist face prodigious challenge.Taiwan’s economic recovery slowly, business transformation or upgrade innovation become Taiwan’s business life hot issue. Rresearchers found out the global market of usage on cosmetics had been more life-oriented, especially new developing countries are raising the popularity of cosmetics, force the industrial value of cosmetics in Taiwan and China had grow rapidly Companies want to achieve transformation need to put limited resources on core business. And In the upgrade process, will face to the change of business risk actually enterprises business performance and risk will inflect to financial information, so financial planning is an important economic management of business transformation. The research aimed to probe the connection of business transition strategy and finance management of minor enterprises. Through the experience of a Taiwan cosmetic firm developing private brand, could explore the investment and financing strategy and give assistance business would decrease the overall risk, and support business transform into private brand successfully. hence being a reference for other entrepreneur willing to develop private brand in further period.


MATERIALS AND METHODS
In this research, Motech Industries, Inc. is choosen as an actual case of The Altenative of Integration Strategy. Motech under the dramatic changes in the PV market and the intense competition from Red Supply Chain. How to adjust the competitive strategies to face competition in the market? Why business development strategy adjust as horizontal integration strategy from vertical integration strategy? And why with different business development strategy in different periods? How to conduct effective development strategy in different external enviroment conditions and enterprise itself with different conditions?
This research is “The Alternative of Integration Strategy in High Competition Industry: The Case of PV industry Motech Company”, so as to explore the case company‘s “How to adjust the competitive strategies to face competition in the market?”, “Why business development strategy adjust as horizontal integration strategy from vertical integration strategy? ”, “Why with different business development strategy in different periods?” and “How to conduct effective development strategy in different external enviroment conditions and enterprise itself with different conditions?” by using the Case Study Method to find out the Phenomenon, Story, Insight, and Implication thereat. By applying the Qualitative Research Method can properly meet the purpose to this research, that is through a single case study by collecting and analyzing its files and history, interpreting one or more decisions upon its phenomena and why/how these decisions could be adopted and what circumstances were occurred by these decisions, and exploring the key causes that affected its development via various theories.


RESULTS AND DISCUSSION
This paper provides in-depth interpretation and discussion to the case study respectively on the global energy demands, renewable enrygy demands, current solar energy technology and PV market development. The purposes of research, research questions, research results and conclusions are summarized as below: (1)Study the competition and cooperation trend of PV inductry. (2)Study the motivation of why Motech tend to horizontal integration from formerly vertical integration. (3)Evaluate the virtue or vice of Motech future development in different strategies.
This research of this study had found that (1) In the PV industry, different industries value chain must have very different professional core competencies. (2) For any kind of strategy, need uninterrupted discussion and revision in this rapid change industry. (3) Resource of a firm is limited, need focus on core value to develop high added value business. (4) Talent develop can improve management capabilities, management capabilities lead to sucess expansions. (5) Higher industry ranking can get better barganing power.


CONCLUSION
Regardless of resource constraints theory, resource-based theory or strategy matrix analysis, the impact of regional policy, these theory can with positive resolution of corporate strategy but cannot fully explained enterprise managers thought and decisions
Enterprise is a living, every moment will produce a relatively large change under different environment, appropriately adjust the strategy, enables companies to preserve their high competitiveness.
The Academic theory are very useful to collate and analyze historical business experience. But in real practice, best strategy will not come out by one or two theory or methodology, need overall reference all possible logical analysis and dynamic fine tune to fit current industry environment.
論文目次 目錄
摘要 I
ABSTRACT II
INTRODUCTION II
MATERIALS AND METHODS III
RESULTS AND DISCUSSION III
CONCLUSION IV
誌謝 V
目錄 VI
表目錄 VIII
圖目錄 IX
第一章 緒論 1
1-1 研究背景與動機 2
1-2 研究目的 3
1-3 研究流程 4
第二章 文獻探討 5
2-1 企業經營策略 5
2-2 策略矩陣分析 6
2-3 區域性政策 8
2-4 整合策略 9
第三章 研究方法 13
3-1研究方法的選擇 13
3-2 研究對象(能源/再生能源/光電/茂迪公司等等) 13
3-3研究工具 14
3-4資料整理與分析 16
第四章 能源需求與太陽光電產業 17
4-1 能源需求概況 17
4-2 再生能源產業 20
4-3 太陽能光電發電 20
4-4 太陽能光電產業生命週期 29
第五章 個案公司分析 34
5-1 茂迪、GCL、NSP公司簡介 34
5-2 垂直整合策略 36
5-3 水平整合策略 39
5-4 財務分析 40
5-5 股價分析(ANNOUNCEMENT EFFECT) 44
5-6 以資源限制理論、策略矩陣分析以及區域性政策來分析 49
第六章 研究結果與討論 55
6-1訪談摘要 55
6-2總結受訪者訪談的看法,研究發現與討論 67
第七章 結論與建議 70
7-1結論 70
7-2對未來研究之建議 71
參考文獻 72
中文部分 72
英文部分 72
附錄一:訪談逐字稿 75
附錄二:訪談同意書 91


表目錄
表 2- 1 垂直整合及水平整合與9項要素之關聯表 8
表 2- 2 太陽能光電產業發展階段 11
表 3- 1受訪者資料表 14
表 3- 2訪談大綱 14
表 4- 1全球主要能源需求與CO2排放值 17
表5- 1茂迪個別策略與股價變化 47
表5- 2 GCL個別策略與股價變化 48
表5- 3 新日光個別策略與股價變化 48
表5- 4茂迪事業策略矩陣分析表 51
表5- 5 GCL事業策略矩陣分析表 52
表5- 6 NSP事業策略矩陣分析表 54
表6- 1受訪者資料表 55
表6- 2訪談整理:垂直整合與水平整合的抉擇,產業價值鏈的選擇 55
表6- 3訪談整理:競爭策略 59
表6- 4訪談整理:資源基礎/資源限制 61
表6- 5訪談整理:區域政策的影響 64


圖目錄
圖1 1 太陽能發電需求趨勢預測圖 3
圖1 2 研究流程圖 4
圖2 1 不同交易邊際成本差異與整合策略之關係 10
圖2 2 企業內外部成長方式 12
圖4-1 全球大氣CO2濃度與全球溫度變化 18
圖4-2 以溫度上升2℃,預測年度CO2排放與累積CO2排放總量 19
圖4-3 以三種溫度變化預測2050年主要電力來源 19
圖4-4 太陽能電池構造及發電示意圖 22
圖4-5太陽能光熱發電構造及發電示意圖 23
圖4-6薄膜太陽能種類圖 24
圖4-7薄膜太陽能模組構造及發電示意圖 24
圖4-8太陽能價格、成本與成交量趨勢圖 27
圖4-9銀價趨勢圖 27
圖4-10 POLYSILICON價格趨勢圖 28
圖4-11可再生能源中風力發電及太陽能發電併購數量趨勢圖 28
圖4-12風力發電及太陽能發電佔可再生能源比率趨勢圖 29
圖4-13太陽能發電累計安裝與未來需求預測趨勢圖 30
圖4-14 1975~2012歷年太陽能需求與價格趨勢圖 31
圖4-15 1996~2012歷年太陽能需求與價格趨勢圖 31
圖4-16太陽能發電容量與營收趨勢圖 32
圖4-17 不同產品生命週期下之財務抉擇與評價挑戰 33
圖5-1 歷年實收股本比較 41
圖5-2 歷年淨利表現 41
圖5-3 歷年現金存量比較 42
圖5-4 歷年流動比率比較 42
圖5-5 歷年負債比率比較 43
圖5-6 歷年股價比較 44
圖5-7 茂迪股價與原油價格趨勢關係 45
圖5-8 GCL股價與原油價格趨勢關係 45
圖5-9 NSP股價與原油價格趨勢關係 46
圖5-10 茂迪歷年上下游投資 50
圖5-11 GCL歷年上下游投資 52
圖5-12 NSP歷年上下游投資 53
圖6-1 事業層級策略範例 68
圖6-2 事業層級策略、部門層級策略 69
圖6-3 事業層級策略、部門層級策略、經營層級策略 69
參考文獻 中文部分
1. 施于婷(2015)台灣太陽光電產業的競爭策略-以茂迪為例
2. 李桂華(2012)太陽能產業面對2011年市場不景氣之經營模式探討
3. 蔡逸姝(2010)兩岸太陽能光電產業商業模式比較分析
4. 王英俊(2008)企業策略與流程績效管理之探討-以某國內綠色能源公司為例
5. 劉佳怡(2007)太陽光電產業台美合作策略分析,工研院IEK產業服務太陽光電與能源資料庫
6. 吳銀泉(2006)太陽能電池產業發展模式與競爭策略-兩岸發展模式比較分析
專書
7. Jay Barney、William Hesterly,翁望回 審定 (2010)。「策略管理與競爭優勢。培生教育出版集團。
8. 司徒達賢 (2005) 策略管理新論 : 觀念架構與分析方法. 智勝出版
9. 伍忠賢(1998),企業購併聖經,遠流出版社

英文部分
1. ANNE STUBBS (1981) The Pros and Cons of Consequentialism. Philosophy Vol. 56, No. 218 (Oct., 1981), pp. 497-516
2. Dani Rodrik (1995) Getting Interventions Right: How South Korea and Taiwan Grew Rich. Economic Policy, Vol. 10, No. 20 (Apr., 1995), pp. 53-107
3. Edward H. Bowman, 1974: 47 (1974), Epistemology, Corporate Strategy, and Academe, pp.47. Sloan Management Review. Winter74, Vol. 15 Issue 2, p35-50. 16p. 1 Diagram.
4. Everett E. Adam, Jr. & Paul M. Swamidass (1989) Assessing Operations Management from a Strategic Perspective. Journal of Management 1989, Vol. 15, No. 2, 181-203
5. Harrison, Jeffrey S.、Hitt, Michael A.、Hoskisson, Robert E.、Ireland, R. Duane (1991) Synergies and Post-Acquisition Performance: Differences versus Similarities in Resource Allocations. Journal of Management. Mar91, Vol. 17 Issue 1, p173. 18p.
6. Ha-Joon Chang (1994) The Political Economy of Industrial Policy by Ha-Joon. London: Macmillan Press, 1994. Pp. xii, 184.
7. Heinz Weihrich (1982) The TOWS matrix—A tool for situational analysis. Long Range Planning Volume 15, Issue 2, April 1982, Pages 54-66
8. Joel Potter* and Shane Sandersf (2012), Do Economists Recognize an Opportunity Cost When They See One A Dismal Performance or an Arbitrary Concept?, pp.251. Southern Economic Journal, October 2012, v. 79, iss. 2, pp. 248-56
9. Joseph Fan, Randall Morck, Bernard Yeung (2011) Capitalizing China. NBER Working Paper No. 17687
10. Joseph T. Mahoney (1992) The Choice of Organizational Form: Vertical Financial Ownership Versus Other Methods of Vertical Integration. Strategic Management Journal Vol. 13, No. 8 (Nov., 1992), pp. 559-584
11. Michael E. Porter (1985) Competitive Advantage.
12. Michael E. Porter (2008) THE FIVE COMPETITIVE FORCES THAT SHAPE STRATEGY. Harvard Business Review. Jan2008, Vol. 86 Issue 1, p78-93. 16p. 1 Color Photograph, 1 Illustration, 1 Diagram, 2 Graphs.
13. Pei Sun(2007) Is the state-led industrial restructuring effective in transition China? Evidence from the steel sector. Cambridge Journal of Economics 2007, 31, 601–624.
14. Philip Kotler (2012) Kotler On Marketing: How to Create, Win and Dominate Markets. Simon and Schuster.
15. Prahalad, C. K & Bettis, Richard A, (1986) The Dominant Logic: a New Linkage Between Diversity and Performance. P488-497. Strategic Management Journal. Nov/Dec86, Vol. 7 Issue 6, p485-501. 17p. 2 Diagrams, 1 Chart, 1 Graph.
16. R. H. Coase (1937), The Nature of the Firm. Economica, New Series, Vol. 4, No. 16 (Nov., 1937), pp. 386-405
17. Robin Marris (1963), A model of the 'managerial' enterprise. Quarterly Journal of Economics. May63, Vol. 77 Issue 2, p185-209.
18. Saggi, Kamal; Pack, Howard (2006) The case for industrial policy : a critical survey. The World Bank, Policy Research Working Paper Series: 3839
19. Steven C. Wheelwright (1978) Reflecting corporate strategy in manufacturing decisions. Business Horizons Volume 21, Issue 1, February 1978, Pages 57–66
20. Tain-Jy Chen (2015) The development of China’s solar photovoltaic industry: why industrial policy failed. Cambridge Journal of Economics 2015, 1 of 20.
21. Tàpies, Josep (2010) In Search of the Secrets to Longevity. IESE Insight. Fourth Quarter 2010, Issue 7, p56-63
22. Tollison, Robert D. (1982), Rent Seeking: A Survey. Kyklos. Dec1982, Vol. 35 Issue 4, p575. 28p. 1 Graph.
論文全文使用權限
  • 同意授權校內瀏覽/列印電子全文服務,於2016-08-25起公開。
  • 同意授權校外瀏覽/列印電子全文服務,於2016-08-25起公開。


  • 如您有疑問,請聯絡圖書館
    聯絡電話:(06)2757575#65773
    聯絡E-mail:etds@email.ncku.edu.tw