英文摘要 |
This article extends the viewpoint of traditional strategic groups and mobility barriers, and discusses entrance and expansion using dynamic strategic group analysis. It also proposes the "strategic moving path" viewpoint to present the dynamic process of long-term strategy development of semiconductor companies in Taiwan and discusses the impacts of strategic moving path on performance. Articles in the past that discuss the impact of entrance strategy on performance used only data in the initial period when the company first entered the industry. And, most articles only analyzed the current performance when studying dynamic barriers and their impacts. This article encompasses both entrance and expansion, and connects comprehensive information including strategy and performance from the initial period to the final period. In this way, the article makes up for the lack of information by focusing on the earlier or later period and provides better explanation for the difference in performance between different companies.
The study shows that Taiwan semiconductor industry experienced 8 strategic stable time periods (SSTPs) from 1994 to 2003. This proves the fast changing nature of high technology industry. On the whole, the strategies of all companies can be divided into 6 main groups. Companies that entered the industry in the earlier period chose groups with fewer mobility barriers as the initial path to enter the industry. This finding is consistent with the result of Bogner et al. study (1996). This study also ascertains that there is significant difference in performance when different types of strategic moving paths are adopted. The performances of companies that adopt indirect strategies are better than those that adopt direct strategies. By analyzing the impacts of frequency and scale of strategy change company performance, the study discovers that companies with higher frequency of strategy change perform better in terms of asset return rate. If the scale of strategy change is great, the revenue growth rate will be comparatively poorer. Integrating the findings, this study shows semiconductor companies in Taiwan shall adopt an indirect, quick response, but slightly adjusted strategic moving path as their long-term strategy in an industry that experiences intense changes. |