摘 要
科技網路興盛的年代，島國經濟規模淺盤經營的臺灣代理商企業，面臨市場經營激烈競爭，優勝劣敗淘汰賽隨時上演。代理商企業提升競爭力才能突破經營困境，以確保企業生存永續經營，因此，代理商分拆企業經營是企業獲利再創價值的商業模式。分拆企業掌握契機並預擬分拆業務範圍，評估經營風險並備妥應變措施，才能確保代理商分拆企業成功。本研究中的代理商在國內工業產品市場需求銳減，國外設備商接踵來台成立銷售部門的競爭壓力下，企業經營面臨內憂外患衝擊風險。因此採取分拆企業模式，將代理銷售業務分拆到子公司銷售或投入研發生產製造，投入科創技術整合同業共創商機，透過結盟投資擴大企業經營範圍，突破經營困境更邁向集團控股規模經營。
本研究使用分拆企業模式來研究代理商企業永續發展，從業界挑選6家標竿代理商企業作為資料蒐集對象，針對標竿企業決策高階經理人或企業經營者深度訪談，蒐集完整企業經營分拆實務資料，分析代理商分拆企業三階段過程，各階段必須完善的階段準備。代理商企業經由分拆企業模式，從分拆期--將業務分拆成立新子公司，再經由科創期--投入研發創新科技設廠生產， 建立技術檻並提升企業競爭優勢，最終到結盟期--同業結盟控股經營，創建品牌並擴大經營規模。
代理商企業的經營兩難事，莫過於儘管做好品牌經營，代理權仍可能被收回，或是投入品牌運營，卻因市場運營變遷而未能獲利，企業投資失利荷包就要遭殃；本研究受訪代理商企業採取分拆企業經營模式，藉此提升企業競爭優勢，強化企業經營能力，讓企業面臨經營環境變遷，總體營收獲利仍穩定成長，更因分拆企業擴展經營範圍，跨入國際市場邁向集團發展成功模式。本研究最終結論，建議代理商企業採取分拆企業模式，因應市場競爭變遷經營，確保企業永續成長。

Abstract
With network science and technology flourish, under the island economies of tray operation, Taiwan agency businesses face to such high-strength competitive market, the survival of the fittest knockout staged at any time. Agency enterprises must enhance the business competitive capabilities to go out the difficult position, in order to ensure becoming a perpetual going-concern. So the Unbundle Corporation is a business model for agency enterprises to create another value. Unbundle Corporation must first master the opportunities and to decide the scope of business, and also to assess the risk and prepare the contingency measures, in order to ensure the success of unbundling. This research company, face to Taiwan industrial product market demand decreasing and foreign equipment vendors positive to set up sales department, such risk of internal and external shocks. Agency enterprises unbundle their sales business into subsidiaries or put in R&D production. Through the Science and Technology Innovation to integrate with the industry for creating the business opportunities, to expand business scope by industry alliances and to break through business dilemma, their business scale toward into group holding.
This study uses unbundle corporation model to study the perpetual going-concern of agency enterprise, select six benchmarking agency enterprises as the data collection objects, and do the depth interview with the person who have the decision-making power or the actual business operator at the benchmarking enterprise, in order to gather complete practice data of unbundling. An analysis three stages of unbundling needs the perfect preparation for each stage. From unbundle period, agency enterprise unbundle their business into subsidiary, then to put the R&D technology into production and to create brand and enhance the competitive advantage in the science and technology innovation period. And finally to the alliance period, industry alliance & holdings the business, create brand and expand the scale of operation.
The dilemma for agency enterprises, the one is the sole agency can still be recovered even you do a good brand management. Another one is to put brand operations but due to the market changes failed to profit. The business investment will suffer setbacks. In this study, through Unbundle Corporation, the agency enterprises enhance the competitive advantages and strengthen management capacity. So that enterprises face the business environment changes, the overall revenues remained stable profit growth. But also because the Unbundle Corporation expand business scope, and then into the international market put the group's development towards a successful model. In this study, the final conclusion and recommendations to agency enterprises must adopt Unbundle Corporation, in response to market competition changes of management, to ensure sustainable growth of enterprises.

目錄
論文審定書
公開授權書
誌謝…………………………………………………………………………….. i
摘要…………………………………………………………………………….. ii
Abstract ………..………………………………………………………………. iii
目錄…………………………………………………………………………….. v
圖次…………………………………………………………………………….. vi
表次…………………………………………………………………………….. vii
第一章 緒論…………………………………………………………………. 01
第一節 研究背景與動機…………………………………………... 01
第二節 研究目的…………………………………………………… 02
第三節 研究流程…………………………………………………… 03
第四節 研究範圍與限制…………………………………………… 04
第二章 產業趨勢現況……………………………………………………… 05
第一節 工業電子產業趨勢………………………………….……... 05
第二節 工業儀控通信設備產業現況……………………………… 06
第三章 文獻探討…………………………………………………………… 07
第一節 分拆(unbundled)企業概念………………………………… 07
第二節 企業競爭優勢………………………………………..……. 10
第四章 研究設計…………………………………………………………… 11
第一節 研究結構…………………………………………………... 11
第二節 研究模式…………………………………………………… 13
第三節 研究方法…………………………………………………… 19
第五章　實證分析…………………………………………………………… 22
第一節 個案公司概況介紹…………………………………….…... 22
第二節 分拆非核心業務再創企業新價值………………………… 35
第三節 創新科技研發提升企業競爭優勢 ………………………...37
第四節 同業投資結盟企業控股經營 ……………………………...39
第六章 結論與建議………………………………………………………… 41
第一節 結論………………………………………………………….41
第二節 建議……………………………………………………….. ..44
第三節 管理意涵…………………………………….……………. ..45
參考文獻……………………………………………………………………… 48
附錄 訪談紀錄……………………………………………………………… 49

參考文獻
一、中文
尤傳莉譯，2012，獲利世代，台北：早安財經文化。
方至民，2012 ，策略管理：建立企業永續競爭力，台北：前程文化。
許恩得譯，2004 ，競合策略，台北：台灣培生教育出版股份有限公司。

二、英文
Brandenburger, A.M. & Nalebuff, B.J. 1996. Co-opetition. California: Doubleday.
Bryer, L. & Simensky, M. 2002. Intellectual property assets in mergers and acquisitions. NJ: John Wiley & Sons, Inc.
Hagel, J. & Singer, M. 1999. Unbundling the corporation. Harvard Business Review, 77(2):133- 141.
Treacy, M. & Wiersema, F.D. 1997. The discipline of market leaders. New York: Basic Books.

三、網路
經濟部中小企業處， 2015，「中小企業認定標準」，http://www.moeasmea.gov.tw/ct.asp?xItem=672&ctNode=214
中華民國國際經濟合作協會，2014，「第5屆台土(耳其)經濟合作會議成果報告」，www.cieca.org.tw/ResultReportList.aspx?rid=44。
WTO, 1994. TRIPS agreement: Trade-related aspects of intellectual property rights. https://www.wto.org/english/docs_e/legal_e/27-trips_01_e.htm.