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題名 證券公司動態能力演進之個案研究
A Case Study on the Evolutions of Dynamic Capabilities of Securities Company
作者 鄭淑芬
Cheng, Shu Fen
貢獻者 邱奕嘉
Chiu, Y.C.
鄭淑芬
Cheng, Shu Fen
關鍵詞 動態能力
證券產業
財富管理
Dynamic capability
Securities industry
Wealth Management
日期 2014
上傳時間 5-Jan-2015 11:20:02 (UTC+8)
摘要 個案公司自1988年創立迄今已超過22年，主要從事證券經紀、自營、承銷三大業務的證券公司。證券經紀業務由於在外部投資商品日漸多元、客戶結構改變、市場進入成熟期手續費競爭激烈，雖然個案公司歷經幾次購併，但是營收成長仍受大環境的影響，無法持續成長。此時主管機關開放證券公司從事財富管理業務，公司開始思考如何進行策略重定位，並透過一連串營運活動的轉變，從過去的證券市場切入到財富管理市場，公司主要以台股為主的營運策略，期望藉由法規的開放，轉型成為多元化的商品，除了服務客戶台股之外，也可以開始進行全方位的商品服務，從台股跨向國際市場。個案公司過去藉由購併將公司規模擴大，希望可以透過新法規的開放，開始重新調整公司整體的策略定位，並根據策略重定位調整原本以台股商品為中心的運作，以利策略的執行。總結上述一連串的轉變，背後支持個案公司得以成功轉型的關鍵在於公司動態回應市場變化的能力，進而形成維持持續成長的動態能力。準此，本研究主要目的即在探討個案公司如何有效運用環境、策略與結構這三層構面彼此的最適互動，來協助其達到成長的目的。
The corporation in this individual case has been built for 22 years since 1988. It is a securities that provides brokerage, proprietary trading and underwriting. Nowadays the securities business is challenged by product diversification, client structural change, and competitive service charge in mature market. Although the firm has gone through several merge and acquisition, the gross rate of sale is still limited and impacted by the influence of big environment. Meanwhile, the competent authority permits wealth management services in securities industry. The firm starts to reconsider the strategic position which focuses from securities to wealth management market via a series of operating activates, from Taiwan stock to diverse products via law permission, and from domestic to internal market via full-functioning financial service. In summary of above of all transitions, the key success factor of transformation for this company is the dynamic adaptive capability, and the long term growth path also depends on it. Consequently, the topic of this paper discusses the fit among environment, strategy and structure, which enables the company to remain continued competitive advantage.
參考文獻 中文部分\n于卓民，李吉仁及陳厚銘(2007)，「邁向企業與管理研究的永續成長-台灣企業與國際競爭力-專刊引介」，台大管理論叢，第十八卷第一期，5-20。\n李吉仁(2002)，「能耐基礎成長策略」，前瞻管理新知與實務研討會。\n吳思華(1996)，「策略九說：策略思考的本質」，麥田出版，台北市。\n吳思華(1994)，「策略九說-第六說：互賴說(上)」，世界經理文摘，第91期，94-102。\n吳思華(1994)，「策略九說-第六說：互賴說(下)」，世界經理文摘，第92期，76-87。\n洪榮德(2011)動態能力演進之個案研究，國立政治大學經營管理學程碩士論文\n闕曉俐(2004)跨國聯盟關係演進與企業成長策略之個案研究，國立台灣大學國際企業學研究所碩士論文。\n吳淑芬(2008)我國證券商財富管理業務競爭分析之研究，國立政治大學經營管理碩士論文。\n張琇珍(2007)證券商從事財富管理業務之展望，台灣大學財務金融研究所碩士論文。\n胡馨文(2008)台灣銀行、證券及保險業從事財富管理業務之比較研究，台灣大學財務金融組碩士論文。\n英文部分\nAmit, R. and Schoemaker, P.J.(1993). Strategic assets and organizational rent. Strategic Management Journal, 14, 33-46. \nBarney, J.B.(1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.\nBlumentritt, R. and Johnston R.(1999). Towards a strategy for knowledge management. Technology Analysis & Strategic Management, 11(3), 287-300.\nChandler, A.D.(1990). Scale and Scope：The dynamics of industrial capitalism. Cambridge：Harvard University Press.\nCollis, D. J. and Montgomery, C. A.(1995). Competing on resources : strategy in the 1990s’. Harvard Business Review, 73(4), 110-135.\nCoats, D.(1996). Putting core competency things into practice. Technology Management, 11(3), 125-134.\nCollis, D. J.(1991). A resource-based analysis of global competition : The case of the bearings industry. Strategic Management Journal, 12, 49-68.\nDas, T. K. and Teng, B. S.(2000). A resource-based theory of strategic alliances. Journal of Management, 26(1), 31-36.\nEisenhardt, K. and Martin, J.(2000). Dynamic Capabilities: What are they? Strategic Management Journal, 21(special issue), 1105-1121.\nEisenhardt, K.M.(1989). Building theories from Case Study Research. Acadamy of Management Review, 14, 532-550.\nGrant, R. M.(1991). The resource-based theory of competitive advantage：Implication for strategy formulation. California Management Review. 114-133.\nGulati, R., Nohria, N. and Zaheer, A.(2000). Strategic networks. Strategic Management Journal, 21(3), 203-215.\nHamel, G. and Heene, C.(1994). The concept of core competence. New York: Wiley, Chichester.\nKay, J.(1993). The foundations of corporate success, London : Oxford University Press.\nLeonard-Barton, D.(1992). Wellsprings of knowledge : Building and sustaining the sources of innovation. Boston : Harvard Business School Press.\nLynskey, M.J.(1999). The transfer of resources and competencies for developing technological capabilities-The case of Fujitsu-ICL. Technology Analysis and Strategic Management, 11(3), 363-380.\nMahen, T.(1994). Exploiting the core competence of your organization. Long Range Planning, 27(4), 66-77.\nMarkides, C. C. and Williamson, P. J.(1994) Related diversification, core competences and corporate performance. Strategic Management Journal, 15, 149-165.\nMiyazaki, K.(1999). Building technology competencies in Japanese firms. Industrial Research Institute, Sep/Oct, 39-45.\nPenrose, E. T.(1959). The theory of the Growth of the Firm, New York, NY：John Wiley and Sons.\nPeteraf, E.(1993). The cornerstones of competitive advantage：A resource-based view. Harvard Business Review, 68, 79-91.\nPfeffer, J. and Salancik, G.R.(1978). The external control of organizations: A resource dependence perspective. Harper and Row, New York.\nPrahalad, C. K. and G. Hamel(1990). The core competence of the corporation. Harvard Business Review, 68(3), 79-91.\nSanchez, R., Heene, A. and Thomas, H.(1996). Dynamics of competence-based competition: Theory and practice in the new strategic management. Oxford, UK: Pergamon, Elservier Science Ltd., 1-35.\nSenge, P. M.(1990). The leader`s new work: Building learning organizations. Sloan Management Review, 32(1), 7-23.\nTeece, D. J., Pisano, G. and Shuen, A.(1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533.\nTampoe, M.(1994). Exploiting the core comprtitive of your organization. Long Range Planning, 27, 466-77.\nTeece, D.(1990). Strategic alliances and technological innovation：An organizational perspective. Working Paper, Walter A. Haas School of Business, University of California at Berkeley.\nWernerfelt, B.(1984). A resource-based view of the firm. Strategic Management Journal, 5, 171-180.\nYin R. K. (1981). The Case Study Crisis: Some Answers. Administrative Science Quarterly, 26(1), 58-65.\n網站資料\n台灣管理個案中心，http://www.tmcc.com.tw/。\n凱基證券，http://www.kgieworld.com.tw/。\n行政院金融監督管理委員會證期局，http://www.sfb.gov.tw/。\n台灣證券交易所，http://www.twse.com.tw/。\n公開資訊觀測站，http://www.mops.twse.com.tw/。\n台灣銀行，http://www.bot.com.tw/。
描述 碩士
國立政治大學
經營管理碩士學程(EMBA)
101932153
103
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0101932153
資料類型 thesis
dc.contributor.advisor 邱奕嘉zh_TW
dc.contributor.advisor Chiu, Y.C.en_US
dc.contributor.author (Authors) 鄭淑芬zh_TW
dc.contributor.author (Authors) Cheng, Shu Fenen_US
dc.creator (作者) 鄭淑芬zh_TW
dc.creator (作者) Cheng, Shu Fenen_US
dc.date (日期) 2014en_US
dc.date.accessioned 5-Jan-2015 11:20:02 (UTC+8)-
dc.date.available 5-Jan-2015 11:20:02 (UTC+8)-
dc.date.issued (上傳時間) 5-Jan-2015 11:20:02 (UTC+8)-
dc.identifier (Other Identifiers) G0101932153en_US
dc.identifier.uri (URI) https://ah.lib.nccu.edu.tw/item?item_id=81149-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 經營管理碩士學程(EMBA)zh_TW
dc.description (描述) 101932153zh_TW
dc.description (描述) 103zh_TW
dc.description.abstract (摘要) 個案公司自1988年創立迄今已超過22年，主要從事證券經紀、自營、承銷三大業務的證券公司。證券經紀業務由於在外部投資商品日漸多元、客戶結構改變、市場進入成熟期手續費競爭激烈，雖然個案公司歷經幾次購併，但是營收成長仍受大環境的影響，無法持續成長。此時主管機關開放證券公司從事財富管理業務，公司開始思考如何進行策略重定位，並透過一連串營運活動的轉變，從過去的證券市場切入到財富管理市場，公司主要以台股為主的營運策略，期望藉由法規的開放，轉型成為多元化的商品，除了服務客戶台股之外，也可以開始進行全方位的商品服務，從台股跨向國際市場。個案公司過去藉由購併將公司規模擴大，希望可以透過新法規的開放，開始重新調整公司整體的策略定位，並根據策略重定位調整原本以台股商品為中心的運作，以利策略的執行。總結上述一連串的轉變，背後支持個案公司得以成功轉型的關鍵在於公司動態回應市場變化的能力，進而形成維持持續成長的動態能力。準此，本研究主要目的即在探討個案公司如何有效運用環境、策略與結構這三層構面彼此的最適互動，來協助其達到成長的目的。zh_TW
dc.description.abstract (摘要) The corporation in this individual case has been built for 22 years since 1988. It is a securities that provides brokerage, proprietary trading and underwriting. Nowadays the securities business is challenged by product diversification, client structural change, and competitive service charge in mature market. Although the firm has gone through several merge and acquisition, the gross rate of sale is still limited and impacted by the influence of big environment. Meanwhile, the competent authority permits wealth management services in securities industry. The firm starts to reconsider the strategic position which focuses from securities to wealth management market via a series of operating activates, from Taiwan stock to diverse products via law permission, and from domestic to internal market via full-functioning financial service. In summary of above of all transitions, the key success factor of transformation for this company is the dynamic adaptive capability, and the long term growth path also depends on it. Consequently, the topic of this paper discusses the fit among environment, strategy and structure, which enables the company to remain continued competitive advantage.en_US
dc.description.tableofcontents 第一章 緒論\n第一節 研究背景與動機 7\n第二節 研究問題 9\n第三節 研究目的 9\n第四節 研究流程 10\n第二章 文獻探討\n第一節 資源基礎觀點 12\n第二節 能耐基礎成長策略 17\n第三節 動態能力 21\n第三章 研究方法\n第一節 研究方法 25\n第二節 研究對象 27\n第三節 概念性架構 28\n第四章 證券產業分析\n第一節 證券產業概況 29\n第二節 證券產業五力分析 36\n第二節 個案公司介紹 40\n第五章 由證券市場切入財富管理市場之策略定位的轉變\n第一節 經營證券本業(核心能耐建構；累積市場經驗及客戶) 51\n第二節 切入利基市場(核心能耐延伸期) 56\n第三節 從利基市場切入財富管理市場(策略變革時期) 59\n第六章 研究結論與建議\n第一節 研究結論 67\n第二節 研究建議 70\n第三節 研究限制 72\n參考文獻 74zh_TW
dc.format.extent 1283088 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0101932153en_US
dc.subject (關鍵詞) 動態能力zh_TW
dc.subject (關鍵詞) 證券產業zh_TW
dc.subject (關鍵詞) 財富管理zh_TW
dc.subject (關鍵詞) Dynamic capabilityen_US
dc.subject (關鍵詞) Securities industryen_US
dc.subject (關鍵詞) Wealth Managementen_US
dc.title (題名) 證券公司動態能力演進之個案研究zh_TW
dc.title (題名) A Case Study on the Evolutions of Dynamic Capabilities of Securities Companyen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 中文部分\n于卓民，李吉仁及陳厚銘(2007)，「邁向企業與管理研究的永續成長-台灣企業與國際競爭力-專刊引介」，台大管理論叢，第十八卷第一期，5-20。\n李吉仁(2002)，「能耐基礎成長策略」，前瞻管理新知與實務研討會。\n吳思華(1996)，「策略九說：策略思考的本質」，麥田出版，台北市。\n吳思華(1994)，「策略九說-第六說：互賴說(上)」，世界經理文摘，第91期，94-102。\n吳思華(1994)，「策略九說-第六說：互賴說(下)」，世界經理文摘，第92期，76-87。\n洪榮德(2011)動態能力演進之個案研究，國立政治大學經營管理學程碩士論文\n闕曉俐(2004)跨國聯盟關係演進與企業成長策略之個案研究，國立台灣大學國際企業學研究所碩士論文。\n吳淑芬(2008)我國證券商財富管理業務競爭分析之研究，國立政治大學經營管理碩士論文。\n張琇珍(2007)證券商從事財富管理業務之展望，台灣大學財務金融研究所碩士論文。\n胡馨文(2008)台灣銀行、證券及保險業從事財富管理業務之比較研究，台灣大學財務金融組碩士論文。\n英文部分\nAmit, R. and Schoemaker, P.J.(1993). Strategic assets and organizational rent. Strategic Management Journal, 14, 33-46. \nBarney, J.B.(1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.\nBlumentritt, R. and Johnston R.(1999). Towards a strategy for knowledge management. Technology Analysis & Strategic Management, 11(3), 287-300.\nChandler, A.D.(1990). Scale and Scope：The dynamics of industrial capitalism. Cambridge：Harvard University Press.\nCollis, D. J. and Montgomery, C. A.(1995). Competing on resources : strategy in the 1990s’. Harvard Business Review, 73(4), 110-135.\nCoats, D.(1996). Putting core competency things into practice. Technology Management, 11(3), 125-134.\nCollis, D. J.(1991). A resource-based analysis of global competition : The case of the bearings industry. Strategic Management Journal, 12, 49-68.\nDas, T. K. and Teng, B. S.(2000). A resource-based theory of strategic alliances. Journal of Management, 26(1), 31-36.\nEisenhardt, K. and Martin, J.(2000). Dynamic Capabilities: What are they? Strategic Management Journal, 21(special issue), 1105-1121.\nEisenhardt, K.M.(1989). Building theories from Case Study Research. Acadamy of Management Review, 14, 532-550.\nGrant, R. M.(1991). The resource-based theory of competitive advantage：Implication for strategy formulation. California Management Review. 114-133.\nGulati, R., Nohria, N. and Zaheer, A.(2000). Strategic networks. Strategic Management Journal, 21(3), 203-215.\nHamel, G. and Heene, C.(1994). The concept of core competence. New York: Wiley, Chichester.\nKay, J.(1993). The foundations of corporate success, London : Oxford University Press.\nLeonard-Barton, D.(1992). Wellsprings of knowledge : Building and sustaining the sources of innovation. Boston : Harvard Business School Press.\nLynskey, M.J.(1999). The transfer of resources and competencies for developing technological capabilities-The case of Fujitsu-ICL. Technology Analysis and Strategic Management, 11(3), 363-380.\nMahen, T.(1994). Exploiting the core competence of your organization. Long Range Planning, 27(4), 66-77.\nMarkides, C. C. and Williamson, P. J.(1994) Related diversification, core competences and corporate performance. Strategic Management Journal, 15, 149-165.\nMiyazaki, K.(1999). Building technology competencies in Japanese firms. Industrial Research Institute, Sep/Oct, 39-45.\nPenrose, E. T.(1959). The theory of the Growth of the Firm, New York, NY：John Wiley and Sons.\nPeteraf, E.(1993). The cornerstones of competitive advantage：A resource-based view. Harvard Business Review, 68, 79-91.\nPfeffer, J. and Salancik, G.R.(1978). The external control of organizations: A resource dependence perspective. Harper and Row, New York.\nPrahalad, C. K. and G. Hamel(1990). The core competence of the corporation. Harvard Business Review, 68(3), 79-91.\nSanchez, R., Heene, A. and Thomas, H.(1996). Dynamics of competence-based competition: Theory and practice in the new strategic management. Oxford, UK: Pergamon, Elservier Science Ltd., 1-35.\nSenge, P. M.(1990). The leader`s new work: Building learning organizations. Sloan Management Review, 32(1), 7-23.\nTeece, D. J., Pisano, G. and Shuen, A.(1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533.\nTampoe, M.(1994). Exploiting the core comprtitive of your organization. Long Range Planning, 27, 466-77.\nTeece, D.(1990). Strategic alliances and technological innovation：An organizational perspective. Working Paper, Walter A. Haas School of Business, University of California at Berkeley.\nWernerfelt, B.(1984). A resource-based view of the firm. Strategic Management Journal, 5, 171-180.\nYin R. K. (1981). The Case Study Crisis: Some Answers. Administrative Science Quarterly, 26(1), 58-65.\n網站資料\n台灣管理個案中心，http://www.tmcc.com.tw/。\n凱基證券，http://www.kgieworld.com.tw/。\n行政院金融監督管理委員會證期局，http://www.sfb.gov.tw/。\n台灣證券交易所，http://www.twse.com.tw/。\n公開資訊觀測站，http://www.mops.twse.com.tw/。\n台灣銀行，http://www.bot.com.tw/。zh_TW