價值創新：宏□經營模式變革之個案研究

Abstract

經營模式在現今競爭激烈的商業活動中，能夠帶來舉足輕重的作用，好的經營模式可以產生點石成金的成效和奇蹟。不僅一家新的公司需要有一個合適的經營模式，歷史悠久的老企業也必須要有一個清楚定義的經營模式。對自己企業的經營模式愈加了解，在管理上和員工達成共識，愈能對經營模式所產生的效益加以估計，以幫助企業在策略上的決定。

經營模式在一段時間之後，它們所創造的價值也會隨著企業彼此競爭下，獨特性的消失而減少，一成不變的經營模式在今天已不太實用。唯有了解自己的經營模式，主動發現它的弱點，進而評估改革，努力創新為公司帶來新的價值。

本論文以宏□個案進行研究，近年宏□轉型為資訊行銷服務的國際化企業，推展自有品牌的產品，專注在品牌經營，品牌和代工分離後，營運獲利和股價扶搖直上，亮麗的成績是有目共睹。本研究以Hamel的經營模式架構，將宏□分家前後四年的經營模式內容進行驗證分析，並透過T 檢定在「財務結構」、「償債能力」、「經營能力」、「獲利能力」、「現金流量」、「企業價值」六大構面下，檢測經營模式的變革對財務績效顯著的差異性，並進而影響提昇企業的價值。

Decisive business models are essential to success in competitive business activities. A unique business model substantially accelerates the effect of “The Midas Touch”. Specify is applied to new start-ups and enterprises with long histories. With a clear and cogent business model, management teams can evaluate performance, reach consensus with staff and make strategic decisions.

However, the method of implementing a business model must be amended spontaneously with the phenomena of competition, as value generated from a business model decreases when other companies enter the same market. Only by identifying the core competencies in a business model, and evaluating and revising business model practices in various competitive scenarios, can enterprises innovate and generate new values.

This study investigates the effectiveness of a corporate business model using Acer as a case study. Acer has focused on global marketing for branded products since they shifted from OEM/ODM business to an OBM (Owning Branding Manufacturing) business. This change resulted in a leap in both revenue and stock price. Obviously, this striking achievement catches everyone’s eyes. An attempt is also made to confirm the content in business models before and after a 4-year using Hamel’s model structure. By exploiting the structures in Hamel’s model, this study analyzes how Acer’s financial performance was related to their business model using the following six indicators: financial structure; debt payment ability; management ability; ability to generate profit; cash flow; and, business value. This study also attempts to determine whether various business models influence the Acer’s business value.