華新麗華集團成長策略之個案研究

Abstract

檢視台灣經濟發展歷程，顯示企業朝向集團化趨勢；如同達爾文「適者生存」理論，亦反應現今“大者恆大”的企業生態。本研究著重於探討個案：華新麗華集團，此具大陸根源的家族企業之成長發展策略；並歸納出其採取的重點成長策略為三大主要方向：「家族企業轉投資策略、跨界多角化經營策略、大陸投資擴張策略」。

本研究觀察個案自1966年成立迄今的成長歷程，以趨勢分析法推論其成長策略之有效性，並探討集團之核心企業與相關策略變數之間的趨勢及關連性。研究結果發現：(1)家族企業的營運績效可反映集團業外投資的獲利增幅，其策略運用具實質有效性；(2)在固守本業的基礎下，其採取多角化的跨界模式，適度地分散轉投資風險，亦考量市場趨勢而選擇其投資時點，故策略運用具顯著有效性；(3)於1992年早期耕耘的大陸投資佈局，確將集團的成長獲利推向高峰發展期，其策略運用具正向顯著有效性；預期下一階段成長，將與大陸經濟發展趨勢環環相扣。

After reviewing the history (model) of economical development in Taiwan, we find that most of companies tend to form a conglomerate to cope with the drastic change in the environment of economies. It reflects “a big fish gets even bigger” as the description in Darwin's evolutionary theory. This paper is focus on the growth and development strategies of Walsin Lihwa Group, which is a business group that has controlled by a family with strong traditional Chinese characteristics. We have summarized the growing strategies of Walsin Lihwa Group into three main directions, which are “Family business spin-off strategy, Cross-border diversification strategy, and Investment in the mainland expansion strategy”.

We observe its history and the strategies of growing since 1966, the year it was founded, and infer the effectiveness of the growing strategies bases on trend analysis approach. We also explore the relationship and the correlation between its core business and the related strategic variables. As results, we found, 1) the operating performance of its family business reflects the profits of group's investment, it indicates the effectiveness of the strategy applied. 2) Without changing its operation strategy of the core business, Walsin Lihwa Group implements a cross-border diversification model that separate the risk of investment appropriately. In addition to that, the model also considers both the market trends and the investment timing, which shows its positive effectiveness on the profit earning. 3) Early investment in mainland China around 1992 is the strategy that pushes the growth and profit of Walsin Lihwa Group into a period high development. It also shows this strategy has a significant and positive effective on the group. We expect the next phase of the growth would express a closer correlation with the mainland's economic development trend.