以資源基礎觀點探索組織轉捩策略及企業生命階段所賦予之情境效果

Abstract

企業之經營，不可避免地會遭遇衰退、甚或失敗之威脅。組織轉捩係指組織的績效歷經衰退，而後回復到衰退前水準的過程，而轉捩績效指的是企業利用此過程，由虧轉盈之成效，通常以利潤相關指標衡量之。本文以資源基礎及動態能力觀點為理論依據，試圖驗證並說明台灣企業成功扭轉劣勢、邁向優勢的策略，主要目的在探討「劣勢資源之摒棄」與「優勢資源之挹注」兩大轉捩策略，對企業轉捩之實質成效，尤其是擬探討此成效是否會因為企業所處生命階段而異（比如年輕型或成熟型企業）。研究對象為台灣一般產業之上市公司，資料取自台灣經濟新報資料庫，於民國81年至95年間，曾經歷業績嚴重衰退後並成功復甦的企業。本研究發現，成本降低行動及研發投資活動－兩者分別代表劣勢資源之摒棄及優勢資源之挹注─對企業轉捩具有正向影響；而研發活動對年輕型企業較有效，但成本降低對成熟型企業之效果較佳。這些研究結果顯示，企業轉捩的過程，適用資源管理的觀點來解釋，尤其是期間所採用的資源摒棄與挹注之重塑策略，更須適當搭配企業生命階段，方能達到成功轉捩目的。

Firms inevitably experience profitability decline, or even worse, threat of failure turnaround has been described as a set of activities adopted by the organization to halt such a decline and stimulate an upturn cycle to recover to its normal situation. The level of recovery is measured by financial indices. Based on the Resource-based view and the dynamic capability concept, this study examines the turnaround strategies successfully by the enterprises of Taiwan. To simplify the complicate resource actions, we categorize the actions into two levels: ”shedding” of the poor resources and ”adding” of the good resources. Our attempt is to distinguish the recovery effects between these two different but compactable actions, especially how their effects are moderated, respectively and together, by the firm's life stage. The data came from the Taiwan Economic Journal (TEJ) database, from which we chose those firms that ever experienced a successful turnaround during the years between 1992 and 2006. The results indicate that cost-cutting and research investment, which represent respectively a shedding and an adding actions of resource, are two actions that helped positively on the profit recovery of these firms during their turnarounds. They also shows that research investment was more effective in the group of young firms, while cost-cutting was more useful to firms in a latter life stage. These findings, together, suggest that the RBV is applicable in explaining the turnaround situation of organizations and that firm life stage is critical in the adoption of a proper resource strategy for a successful turnaround.