台灣加入世界貿易組織（WTO）後，全球化趨勢日益深化。在面對目前大陸磁吸效應下，全球環境快速變化下，中小企業必須要更努力求新求變，擴大營運或尋求增加企業獲利之成長策略，才能免於逐漸衰敗的命運。此刻，更突顯出中小企業在策略管理面的重要性，不但要保有原來的優勢，更應該利用公司本身的資源與特質，持續獲利與成長。
因此，中小企業如何運用自身的資源優勢，加以部署擴大經營範疇與規模，促使公司更上層樓，其所採取的多角化成長策略，攸關企業成敗。本研究將藉由資源基礎觀點的概念與多角化成長策略間的關聯性，觀察個案公司─L公司在多角化過程中，因應產業環境變動及企業本身擴張的變化，探討其如何運用擁有的資源與核心能力，並考量本身在外部環境變動時，所應採取的多角化成長策略。從探討分析L公司在進行企業多角化成長策略過程中，本研究發現：
一、企業多角化之方向會受擁有資源的影響。
二、多角化所進入新產品選擇，與現有顧客需求性關聯愈大愈容易成功。
三、進入產業之選擇會造成新資源之需求，累積新的資源。

After entering WTO, Taiwan faces the challenges of globalization. At the same time, migration of manufacturing industries to mainland China seems to be an endless trend.
To avoid failure, firms have to make constant changes, expand their sizes, and seek strategies for sustaining profit growth under the severe competitive environment of today’s global markets. To maintain competitive advantages, small and medium enterprise have to leverage their resources and competences for sustainable profitability and growth by careful strategies formulation.

The diversification processes to expand a firm’s size and business fields are related to its competence and its efficiency of leveraging resources. This research is about the relationship between resources based view and diversifying strategies. Based on the diversification process of company L, we explore the strategies for the case company
by considering changes in industry environment and the company’s conditions ,with
the evaluation of the company’s competence and resources.

The findings are:

1. The fields of new businesses for diversification of a company are restrained by their existing resources.

2.The diversification will be more likely to success, if the products to be carried in the new business are highly connected to the company’s current customers.

3.The new business will eventually need new resources ,which will be accumulated and become one of the firm’s important resources.

第一章 緒論 1
第一節 研究動機 1
第二節 研究目的 1
第二章 文獻探討 3
第一節 資源基礎觀點 3
第二節 多角化策略 15
第三節 多角化與資源的關係 35
第四節 研究範圍 39
第三章 研究方法 43
第一節 個案研究法 43
第二節 研究流程 44
第四章 個案分析與研究發現 46
第一節 公司簡介 46
第二節 成長歷程分析 54
第三節 研究發現 62
第五章 研究結論 67
參考文獻 69

一、中文部份
1. 方至民（2000），企業競爭優勢，前程企管。
2. 方至民（2004），超越顛峰，經濟部中小企業處。
3. 司徒達賢（1995），「資源基礎理論與企業競爭優勢關係之探討」，行政院國4. 家科學委員會專題研究計劃成果報告。
5. 吳思華（1988），「產業政策與企業策略」，中國經濟企業研究所，台北
6. 吳思華（1996），策略九說：策略的思考本質，初版，麥田出版社。
7. 林晉寬，「從資源基礎理論探討資源特性與成長策略之關係」，博士論文，國立政治大學企業管理研究所，民國84年。
8. 徐中琦，「多國籍企業的新挑戰–國際營運與組織能力」，經濟情勢暨評論季刊，民國85年8月。
9. 張嘉健，民88，公司多角化策略與新事業吸收能力對新事業績效影響之研究──台灣集團企業之實證研究，銘傳大學，國際企業管理研究所，未出版之碩士 論文。
10. 許士軍，(1974)，管理：規劃與創新，台北：地球出版社。
11. 蔡敦浩 (1985)，「策略決策過程之研究」，國立政治大學企業管理研究所未出版博士論文。
12. 蔡憲唐，「中山大學論文格式」，中山大學教學資料。
13. 資訊觀測站上市櫃公司財務資料、股東會年報

二英文部分
1. Aaker, David A. 1984, Strategic Market Management, NY: John Wiley and Sons Co.,p.284.
2.Aaker, David A. (1995), Strategic Market Management, NY, John Wiley & Sons, Inc, pp.134.
3. Amit, R. and J. Livnat. 1988, Diversification and the risk-return trade-off ,Academy of Management Journal, 31, pp.154-166.
4. Ansoff, H. I. 1965, Corporate Strategy, New York：MoGraw-Hill.
5. Barnard, C. I., 1938, The Function of the Executive, Harvard UniversityPress, Cambridge, Mass.
6.Barney, J. B. (1986). Strategic factor markets: Expectations,
luck, and business strategy. Management Science, 42: 1231-1241.
7.Barney, J. B. (1991). Firm resources and sustained competitive
advantage. Journal of Management, 17:99-120.
8.Barney, J. B. (1997). Gaining and Sustain Competent Advantage. Addison-Wesley Publishing Company.
9.Busija, E. C., O’Neill, H. M. & Zeithaml, C.P. (1997).
Diversification strategy, entry mode, and performance: Evidence of choice and constraints. Strategic Management Journal.
10.Chatterje, S. (1988). Types of synergy and economic value: The impact of acquisitions on merging and rival firms. Strategy Management Journal, 7(2): 119-139.
11. Chatterjee, S. and Wernerfelt, B. 1991, The Link Between Resources and Type of Diversification: Theory and Evidence, Strategic of Management Journal, Vol. 12, pp. 33-48.
12.Collis, D.J.,& Montgomery, C.A.,1995,“Competing on Resources: Strategy in the 1990s”, Harvard Business Review
13.Das, R. & Mohanty, B. (1981). Choosing a diversification project in a regulated economy. Long Range Planning, 14(2): 78-86.
14. Devlin, G., 1991, Diversification: A redundant strategic option European Management Journal, 9, 1, pp. 76-81.
15. Glueck, W. F. 1976, Business Policy: Strategy Formulation and
Management Action, 2nd ed., New York: McGraw Hill.
16. Grant, R. M. 1991, The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation, California Management Review, spring, p.114-135.
17. Grant, R. M. 1995, Contemporary Strategy Analysis, Blackwell PublishersInc., pp. 236-241.
18. Hall, R. 1992, The Strategic Analysis of Intangible Resources, Strategic Management Journal, 13, p. 135-144.
19. Hax, A. C. and Majluf, N. S. 1991, The Strategy Concept and Process: APragmatic Approach, Englewood Cliffs, N.J.: Prestice Hall.
20.Hill, C. W. L. and Hoskisson, R.E., 1987, “Strategy and Structure in the Multiproduct Firm”, The Academy Of Management Review, Vol.12（2）, pp.331-342
21.Hofer,C. W. & Dan Schendel, Strategy Formulation: Analytical Concepts, Minnesota: West Publishing Co., 1978
22.Hoskisson, R. E. & Hitt, M. A. (1990). Antecedents and performance outcomes of diversification: A review and critique of theoretical perspectives. Journal of Management, 16(2): 461-509.
23. Hitt, M. A. and Ireland R. D. and Hoskisson R. E., (1995), “Strategicmanagement: Competitiveness and globalization’,” West Publishing.
24.Kotler, p. (1995). Marketing Management: Analysis Planning, and Control, 8rd ed, Prentice-Hall.
25. Mahoney, J. T. and J. R. Pandian (1992), “The Resource-Based View WithinThe Conversation of Strategic Management,” Strategic Management Journal,Vol.13, pp. 636-380
26.Miller, D., & Shamsie, J. 1996. The resource-based view of the firm in two environments: TheHollywood film studios from 1936 to 1965. Academy of Management Journal.39(3):519-543..
27. Montgomery, C. A.(1982), “The Measurement of Firm Diversification:SomeNew Empirical Evidence,” Academy of Management Journal, Vol.25, pp.299-307.
28. Penrose, E. T. (1959), “Theory of The Growth of the Firm”, OxfordUniversity Press, Oxford.
29. Penrose, Edith T. 1959. The Growth of the Firm. M. E. Sharpe Inc., New York.
30. Pitts, R. A. (1977). Strategies and structures for
diversification. Academy of Management Journal, 20: 197-208.
31. Pitts, R. A. & Hopkins, H. D. (1982). From diversify: Conceptualization and measurement. Academy of Management Review, 7: 620-629.
32. Prahalad, C. K. & Bettis, R. A. (1986). The dominant logic: A new linkage between diversity & performance. Strategic Management Journal, 7: 485-501.
33. Prahalad, C. K. & Hamel, G. (1990). The core competence of the corporation. Harvard Business Review, 68(3): 79-91.
34. Ramanujam, V. and Varadarjan, P. (1989), “Research on Corporate
Diversification: A Synthesis”, Strategic Management Journal, 10, pp.
523-552.
35. Reed, R. and Luffman, G. A. (1986), “Diversification: the Growing
Confusion”, Strategic Management Journal, 7, pp. 29-35.
36.Roberts, E.B. & C.A. Berry (1985), Entering New Business: Selecting Strategies for Success, Sloan Management Review, pp.3-17
37. Rosenbery, E.B., & Berry, C.K. (1985). Entering new business: Selecting strategy for success. Slogan Management Review, 27(3): 57-71.
38. Selznick, P.1957. Leadership in Administration: A Sociological Interpretation, Row,
Peterson and company.
39. Teece, D. J. (1982), “Towards an Economic Theory of The MultiproductFirm”, Journal of Economic Behavior and Organization, 3, pp. 36-39.
40. Verdin, P. J. and P. J. Williamson, (1992), “Core Competence, CompetitiveAdvantage and Industry Structure”, Mimeo, INSEAD, November.
41. Wernerfelt, B. (1984), “ A Resource-Based View of The Firm,” StrategicManagement Journal, Vol.5, pp. 171-180.
42. Wernerfelt, B. 1989. From Critical Resources to Corporate Strategy, Journal of General Management, 14, p.4-12.
43. Wrigley, L. (1970), “Divisional Autonomy and Diversification”, Doctoral