1. 從創投角度看產業分析實務
陳世芳
2008/4/18
C Squared Management Corp. 創義管理顧問股份有限公司
2. 個人簡介
• 學歷:
2002/09 ~ 2004/07:台灣新竹交通大學科技管理碩士,93級。
1996/09~2000/06: 台灣新竹交通大學電子工程學士,89級。
1993/09~1996/09:台灣新竹高級中學,數理性向班。
• 經歷:
2006/11 ~ now:經理,創義管理顧問股份有限公司。
2006/01 ~ 2006/10:副理,國票創業投資股份有限公司,國票金控集團。
2005/02 ~ 2005/12:副理,維揚國際股份有限公司,台揚集團。
2004/09 ~ 2005/01:Industry Analyst, Sasson International Holdings, Inc.
• 專門知識:技術預測&技術前瞻、創業投資、企業育成、創業精神、中國
大陸企業法制、科技管理。
• 著作:
Journal: Yuan, B.J.C., Chen, M.S.F., Cheng, C.C. (2004), "Role of High-Tech Business
Incubator on the Contribution towards Knowledge Innovation Systems in China and Taiwan",
International Journal of Innovation and Incubation, 1(1), pp.91-116.
Thesis: Chen, M.S.F. (2004), “創業服務:創業投資與企業育成之聚合”, 交通大學碩士畢
業論文。
3 papers on the yearbook of incubators of small and Medium enterprises, 2003.
Confidential 2
14. 新創公司總經理室的策略規劃
• Corporate-level Strategy:
Vertical Integration, Diversification, and Strategic Alliances
Task Group:Patent Strategy, Equipment Design
• Business-level Strategy:
A plan of action to use the firm’s resources and distinctive competencies to gain
competitive advantage.
• Global Strategy:
International strategy:Create value by transferring skills and products abroad.
Multi-domestic strategy:Maximize local responsiveness by customizing products
and marketing strategy for local markets.
Global strategy:Pursue low-cost status, offer standardized global products.
Transnational strategy:Use global learning to achieve low-cost status,
differentiation, and local responsiveness simultaneously.
• 身為一個創投,通常協助上面三種策略的規劃。
Confidential
15. 產業分析中比較個競爭者的功能層級的策略規劃
• Functional-level Strategies:
VP-level:Production and Efficiency (Economies of scale, Learning effects, The
experience curve)
VP-level:Marketing and Efficiency (Product design, Advertising, Promotion,
Pricing, Distribution)
Under COO, AVP-level:Materials Management, JIT, and Efficiency (Materials
management, Just-In-Time (JIT))
VP-level:R&D Strategy and Efficiency (Design easy-to-manufacture products,
Pioneer process innovations)
Under GM Office, manager-level:Human Resource Strategy and Efficiency
Under GM Office, manager-level: Information Systems, the Internet, and
Efficiency
Under GM Office, manager-level: Infrastructure and Efficiency
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16. Functional-Level Strategies
• Achieving Superior Efficiency: Human resource strategy
Economies of scale (財務損益平衡 Information systems and the Internet
的經濟規模產量,對服務業來說是 Company and customers
平均月客戶人次) Company and suppliers
Learning effects Infrastructure
The experience curve(良率提升) Company structure, culture, style of
strategic leadership, and control
Flexible manufacturing (lean
system determine context of all
production) (少量多樣 V.S. 少樣多 value creation activities
量)
Marketing
pricing, promotion, advertising,
product design, distribution
Materials management
Just-in-time (JIT) inventory system
Supply chain management (分散供
應商)
R&D strategy
Designing products that are easy to
manufacture (提高良率)
Process innovations (減少流程)
Confidential Source: Strategic Management Theory-An Integrated Approach, Hill & Johns
17. Stages in the Industry Life Cycle
• XXXX is just embryonic.
XXXX System
2010 2013 2015 2020
Confidential Source: Strategic Management Theory-An Integrated Approach, Hill & Johns
18. Superior Profitability
• Strategy, Resources, Capabilities, • Value Creation per Unit:
and Competencies:
• Differentiation and Cost Structure:
Roots of Competitive Advantage
Confidential Source: Strategic Management Theory-An Integrated Approach, Hill & Johns
19. Market Share Target
• Market Share of Different
Customer Groups:
Source: Strategic Management Theory-An Integrated Approach, Hill &
Johns
Market Share Plan for XXXX Corp.
Value Chain of Solar 2008 2009 2010 2011 2012 2013 2014 2015 2016
Cell Industry
Product A 1% 5% 24%
Product B 1% 5% 24% 24% 24% 24% 24% 24%
Product C 1% 5% 24% 24% 24% 24% 24%
Product D 1% 5% 24% 24% 24%
Product E 1% 5% 24% 24% 24% 24% 24%
Product F 1% 5% 24%
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20. Taper Integration & Strategic Outsourcing
• Full and Taper Integration: • Strategic Outsourcing of Primary
群創模式 Value Creation Functions:
Finance, HR, IT
委外有兩種:
A:外包給別的公司
B:外包給組織架構中,全球最有
競爭力的當地組織。
Confidential Source: Strategic Management Theory-An Integrated Approach, Hill & Johns
26. X1 Material
• Partners:
Major (80%, demand):Company A
Minor (20%, demand):Company B
• Future Problems & Solutions:
Problem A:
Close to Company A and equipment makers (Company C or Company D)。
Strategic investment from Company A, Company B or Company C。
Problem B:
Strategic investment from Company A or Company B。
• The R&D of X2 substrate is from 2011。
Assign a R&D person to watch the progress of XXXX Device on X2.
• Future Markets:
Very high performance:X1 material (Region P)
Very low cost but high performance:X2 Material (Region Q)
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55. LTE PA Module的發展
• LTE:Long-term evolution of third-generation cellular systems
• 特色:
100Mbps in the downlink and 50Mbps in the uplink;
未來有機會達到300Mbps downlink
Multicarrier power amplifier
Confidential Source: Ericsson Review, 2007
85. 2000年之後IC設計服務(Design Service)公司興起 (質化)
• 2000年之後隨著SOC的逐漸成長,IC設計服務公司也逐漸興起,但是近期
發現唯有跟晶圓廠密切配合之IC設計服務公司,才享有較高之競爭力。
System Co. IDM Foundry Post-Foundry
< 1980s 1980s 1990s after 2000
IBM, AT&T TI TSMC Faraday, Global Unichip
NEC Intel UMC ARM, MIPS, ARC, CEVA
Burroughs AMD SMIC Cadence, Synopsys, Magma
Siemens etc. Motorola etc. VIA, Mediatek
Equipment System Spec.
System Spec. IC Design
IC Design
Fab
Fab
Package/ Package/
Testing Testing
Confidential Source: Shanghai Integrated Circuit Industry Associatio (2003), 矽島計畫(2004)
86. 全球SOC與IP市場快速成長 (量化)
全球IP市場
$3,000
Soft IP
$2,500 Firm IP
Hard IP
$2,000
($M)
$1,500
$1,000
$500
$0
2002 2003 2004 2005 2006 2007
Source: Semico, FSA, 2003
SoC market with reusable IPs is growing steadily for the past few years and
projected to increase in the future !!
Confidential