日月光半導體購併策略創新關鍵成功因素研究

Abstract

在激烈之產業競爭環境下，購併已然成為企業成長策略的必要一環。綜觀諸多全球一流企業所經驗之案例，購併策略之順利運作與成功整合，實非易事。 二十世紀末，深度運用於半導體業界之垂直分工經營模式，激化了企業購併行為。企業藉購併以快速成長，並鞏固其在價值鏈之關鍵地位。1999年中，日月光集團購併世界知名企業摩托羅拉位於台灣及韓國之二個工廠，此個案具有開創性與其不確定性。本論文用以探討該個案運用之創新策略的關鍵成功要素與潛在管理意涵。 該個案之時空背景反映，日月光可採取技術授權、合資、交互投資或自行擴廠等替代方案，以達拓展企業之目的；日月光最終採行購併策略，意在積極追求範疇經濟與規模經濟之雙重策略目標。 日月光為世界第一大專業半導體測試廠及第二大專業封裝廠，其終端客戶集中在個人電腦相關產業；邇來快速成長中之通訊市場與汽車電子市場則極待開發。購併摩托羅拉所屬工廠之策略目標，旨在快速擴充其產品領域及客戶領域，有效達成範疇經濟，進而倍增經濟規模之效益。 日月光購併後之整合策略以取得關鍵技術、強化核心能力為主軸，以適度之局部垂直整合擴大上下游產品及服務領域為方針，冀以強化日月光在半導體價值鏈之定位，提高該產業之進入門檻，鞏固其競爭優勢。 綜合而論，〝核心能力組合之管理〞，〝積極而具彈性之市場策略〞，〝建構立基於規模創新之領域創新〞，〝採取包容性之人力資源策略〞為日月光集團購併策略創新之關鍵成功因素。 眾人皆知購併行為本質上極具挑戰及風險，其結局並不必然成功。然而，參考業界最佳典範作為，可引他山之石，避免重蹈覆轍，而增加成功之機會。日月光個案研究揭示之管理策略意涵，必可供企業引為參考。

Merger and acquisition (M/A) has become essential elements of corporate strategy. Studies on cases of leading corporations in the globe revealed that M/A strategy itself and the integration are not an easy task at all. Vertical dis-integration – The new business model of semiconductor industry evolved in late 20th century exhilarated M/A as one of key strategies to grow the business in the targeted segment of value chain. In middle 1999, ASE acquired each one factory of Motorola Inc. in Taiwan and Korea. The case inherently possesses innovation as well as uncertainty. This thesis intends to review the critical success factors of innovation strategy adapted by ASE and the implication of strategic intents inspired in this case. To achieve the objective of continuous growth, there were options such as acquiring patented technologies, forming joint venture, mutually investing or expanding current factories. ASE chose to execute an M/A strategy for the objectives of SCOPE economics innovation and SCALE economics. ASE was the independent service provider who is the largest in IC testing and the second largest in IC assembly field in the global market with the majority of end customers in PC and peripherals industry. Communication and Automotive market were new to ASE. The strategic objective of acquiring Motorola factories was to quickly expand the product portfolio and the scope of end customers, which contributed economic scale in newly developed business field. The post acquisition integration strategy of ASE focused on acquiring critical technologies, strengthening core competency and vertically integrating up-stream and down-stream processes and services in order to upgrade value proposition of ASE in value chain. It also elevated entry barrier in the industry and consequently reinforced the competitive advantages of ASE. In summary, “Competency Portfolio Management”, “Aggressive but Flexible marketing Strategy”, “ Pursuing Scope economics as well as Scale economics” and “Adaptive Human Resources strategy” were identified as vital few critical success factors of innovated strategy applied in the merger and acquisition case of ASE. Merger and acquisition bears uncertainty and risk. The success is not automatically guaranteed. However, benchmarking the best practices should enhance the chances of success and help avoiding catastrophic pitfalls. The implication of strategic intent distilled from the ASE’s M/A case may shed light to enterprises who pursue in the similar scenario.