全球半導體產業在1990年代，由於個人電腦的強勁需求與鉅額的網路投資，經歷連續數年的榮景，尤其在1999年至2000年更呈爆發性成長，當時晶圓製造商的新設備資本支出一年高過一年，設備業者的營收與毛利率因此居高不下。然而，隨著2000年的網路泡沫化，再加上沒有殺手級應用產品推出，晶圓製造商對新設備的需求一度呈現急速萎縮，設備業者的營收與毛利率連續數年負成長。

經過2000年的大衰退後，設備業者除了採取對策減輕景氣波動對財務的衝擊外，並紛紛思索在半導體產業成長已經趨緩的當前，如何讓企業進一步成長。另外，半導體產業已進入先進製程時代，需要更多研發資源投入與研發費用支出，晶圓製造商也因此要求設備供應商協助降低成本與提高生產力。

本研究以全球最大半導體設備供應商Applied Materials為例，探討該公司面對景氣波動、當前產業環境以及進一步成長需要，所採取的策略回應。研究後有四點發現：

1)應用材料公司為了穩定獲利，採取策略聯盟、業務外包以及建構全球開發能力等策略來降低營運成本。並進入潔淨室服務市場以創造新利基。
2)應用材料公司為了因應客戶對提高生產力與降低成本的需求，採取差異化策略，相繼推出一系列提升工廠生產力的產品，並持續降低「機台擁有成本」(COO，，Cost Of Ownership)。
3)半導體設備業者大都採取多角化的成長策略，而且多以水平購併或相關購併作為進入新市場的手段。
4)半導體設備業者的策略成效(以股東報酬為評估指標)，和它們策略作為與核心能力的契合度具正相關性;也就是說，策略作為和核心能力契合度越高者股東報酬越高。

關鍵字: 內部環境分析、外部環境分析、策略作為、多角化策略、差異化策略、購併策略

The global semiconductor industry had gone through a consecutive years of prosperity in the 1990s due to the strong demand in personal computer as well as the enormous internet investiment. Even more, it gained an eruptive growth in years 1999 and 2000. The semiconductor fabrication companies’ capital spending in new equipment segment grew year by year. The equipment suppliers’ revenue and gross margin had then set record high. However, combined the internet bubbled in 2000 with the shortage of killer application, the chip makers’ capital spending had thereafter dramatically slowdown for years and hence seriously impacted the equipment suppliers’ financial performance.

Ever after the great recession in year 2000, the equipment suppliers have been taking steps to alleviate the industry downturns’ impact in their financial report. Meanwhile, the companies have also identified ways to further grow their business. Besides, the semiconductor industry has been introducing advanced nanomanufacturing technologies which demand huge resource commitment as well as capital investiment. The chip makers have therefore urged the equipment suppliers to assist them in area about cost reduction and productivity improvement.

This study takes the world biggest semiconductor frabication equipment maker, Applied Materials, as an example, to investigate the company’s strategically responsivenesses against the business cycles, the current industry environment and its desire in business growth. The conclusions are:

1)Applied Materials has been taking joint ventures, outsourcing and global development center establishments to reduce its operation cost. It had also entered the fab service market to create a new niche.
2)In response to the customers’ demand in productivity improvement , Applied Materials has been activating differentiation strategies to develop high-productivity products. It has also been performing Continuous Improvement Plans (CIP) to further reduce its products’ Cost Of Ownership (COO) to meet the customers’ requirement in cost reduction.
3)The equipement suppliers have been conducting related constrained diversification strategies to extend their business scope. They mostly used the Mergers & Acquisitions to enter the new markets.
4)The strategy effectiveness (in view of the shareholders’ return on investment), is positively related to its consistency with the company’s core competencies. In other word, the higher the consistency is, the better the ROI will be.

Keyword: Internal Environment Analysis, External Environment Analysis, Strategic Responsiveness, Diversification Strategy, Differentiation Strategy, Mergers & Acquisitions

第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 1
第三節 研究範圍 1
第四節 研究流程 2
第五節 研究方法 2
第六節 研究架構 2
第二章 文獻探討 4
第一節 外部環境分析 4
第二節 內部環境分析 7
第三節 策略規劃基本程序 8
第四節 策略執行 15
第三章 半導體產業與設備產業現況分析 18
第一節 半導體設備產業簡介 18
第二節 半導體設備產業現況與發展趨勢 18
第四章 個案分析 39
第一節 內部環境分析 40
第二節 外部環境分析 46
第三節 策略行為 59
第五章 結論與建議 91
第一節 結論 91
第二節 研究貢獻 91
第三節 建議 95
參考文獻 97
ㄧ、中文部份 97
二、英文部分 97
三、網站部分 98

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