本研究嘗試解釋為何在新興產業裡，先進者優勢無法長久持續的原因。藉由挑選四家位處兩個不同產業（TFT-LCD 背光模組以及鎂合金機殼）的公司，我們進行先進者及後進者的分析比較。傳統管理理論，在處理今日快速變化的環境，有其無法全盤適用的地方，因此我們特地引入「適配度景觀」的概念，來討論此一現象。

本研究結論如下：
1) 先進者優勢，存於成熟、穩定的產業，然而在迅速多變的新興產業之中，卻無法長久依賴。
2) 後進者要克服先進者優勢的威脅，得仰賴以下四項因素：(i)市場、(ii)進入時間、(iii)技術以及(iv)商品策略。
3) 市場環境不斷且劇烈的改變，意味長久制訂、鮮少改變的策略，無法持續獲利可行，因此為了在新興產業裡倖存並永續成長，對環境變化的敏銳意識以及策略制度的機動性，是非常重要的。

This study seeks to explain the reasons behind why first-mover advantage is unsustainable in emerging industries. For the purpose of study, four companies in two different industries, namely TFT-LCD backlight module and magnesium alloy enclosure manufactures are categories into two groups based on their entrance position (first-movers and latecomers). Since traditional strategies are much harder
to use when analyzing industries undergoing rapid change, thus the concept of fitness landscape is used.

The conclusions of this study are presented as follows:
1) Although first-movers advantages exists in mature, stable industry, however, the fast changing nature of emerging industries meant that traditional notions are unfeasible.
2) Four important, inter-related factors determine the possibility of latecomer to overcome first-mover advantages, they are i) the growing market, ii) late
entry, iii) revolutionary technology, and iv) focused product strategy.
3) Ever-changing business environment, fitness landscape, meant that static strategies are no longer feasible. The affect of every decision have direct implications for the industry at large, thus changing the landscape. Therefore, constant awareness and mobility are most important to survive in emerging industries.

Abstract (English)....................................... 2
Abstract (Chinese)....................................... 3
Acknowledgement.......................................... 4
Table of Contents........................................ 5
List of Figures and Graphs............................... 7
Chapter 1: Introduction.................................. 9
1.1 Background and Context............................... 9
1.2 Scope and Objectives................................ 12
1.3 Dissertation Overview............................... 13
Chapter 2: Literature Review............................ 14
2.1 Emerging Industries................................. 14
2.2 First-mover Advantage............................... 17
2.3 Fitness Landscapes.................................. 22
2.4 Research Opportunity................................ 25
Chapter 3: Research Methodology......................... 27
3.1 Qualitative Research................................ 27
3.2 Case Selection...................................... 28
3.3 Data Collection and Analysis........................ 28
3.3.1 Primary Data...................................... 28
3.3.2 Secondary Data.................................... 30
3.3.3 Data Analysis..................................... 30
Chapter 4: Emerging Industries.......................... 33
4.1 TFT-LCD Industry – Backlight Module................ 33
4.1.1 What is it? ...................................... 33
4.1.2 Rise of the TFT-LCD Industry in Taiwan............ 34
4.1.3 Importance of the Backlight Module................ 35
4.2 Magnesium Alloy Enclosure........................... 38
4.2.1 What is it? ...................................... 38
4.2.2 Rise of the Magnesium Alloy Enclosures in Taiwan.. 42
4.3 Evidence of the 'absence of rules'.................. 44
Chapter 5: Case Studies................................. 47
5.1 A Company .......................................... 47
5.2 B Company .......................................... 50
5.3 C Company .......................................... 53
5.4 D Company .......................................... 56
5.5 Case Comparisons ................................... 59
Chapter 6: Research Findings and Discussions............ 61
6.1 Research Analysis................................... 61
6.1.1 Determinants of First-Mover Advantage............. 61
6.1.2 Why they Fail?.................................... 62
6.1.3 Reasons for Latecomer Success..................... 63
6.2 Research Findings................................... 67
6.2.1 Determinants of Latecomer Advantages in Emerging Industries.............................................. 67
6.2.2 Fitness Landscape................................. 73
6.2.3 Future Landscape.................................. 74
6.3 Discussions......................................... 75
Chapter 7: Conclusions and Implications................. 78
7.1 Conclusions ........................................ 78
7.2 Implications........................................ 79
7.2.1 Practical Implications............................ 79
7.2.2 Research Implications............................. 80
7.3 Research Limitations................................ 80
References ............................................. 81
Appendix................................................ 85

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