摘要
台灣夾板業是傳統產業之一，從早期民國70年初曾經產值為台灣前三大出口行業，民國70年代末期產業的大量外移至原料國家（馬來西亞與印尼），如今原料產地國經過一甲子以上的開採，天然資源大幅減少，經營之神王永慶曾經說過『沒有夕陽產業、只有夕陽企業』，究竟馬來西亞台商木業早期至今的發展如何？未來面對資源有限與環境的問題，如何永續經營、轉型或多角化發展？
研究設計主要以幾種商業理論模式來研究台商合板製造目前的產業分析1.以五力與SWOT分析，了解目前產業的內外部環境競爭、市場成長機會與面臨的問題探討2.以質性深度多個案公司訪談多角化經營發展的過程中，以企業資源與資源基礎理論來設定幾項因素來分析產業多角化過程的失敗與成功關鍵性因素3提供未來的經營管理與多角化策略的建議作為結論。
從本次研究發現可以得到以下幾個重點1.相關性多角化成功的因素主要在於資源與能力的延伸適配度高，而非相關性的產業視投入產業與領導者的思維、遠見而定，成功的因素往往在於有形無形資源的延伸與技術層面不高的產業 2.另一方面企業轉型與多角化發展過程中，關鍵性成功因素之一在於『合作夥伴』與『人才』，企業經營者應當把如何管理與建立『人才資產』制度，為多角化發展首要重點方向3.最後從失敗的案例中，可以發現到，企業除了檢視自己的資源與核心能耐外，另一方面環境的因素，如：政治因素、區域性的文化因素與經濟發展現況因素等等，都是重要的環節，而失敗的因素，常發生在環境因素不適配，最後導致國際區域上的投資失敗4.在產業分析上整個合板產業的經營是朝向環境保護再生林方向發展，如何再開創原料地方、新產品、垂直整合、產業內部資訊化與自動化提升為未來的經營方向5.除了外部環境，相關產業所面臨到的困境大部分相同，內部環境主要的因素，在於企業(1)企業組織老化改革(2)企業文化建立(3)二代領導的銜接(4)轉型與多角化發展，以上如何迎接新的時代的挑戰，都是第二代或第三代必須克服的方向，使整個企業能與時俱進，讓傳統產業轉化成另一個永續經營跟得上時代的現代企業。

Abstract
As a traditional industry in Taiwan, plywood industry was one of the top three exporting sectors in the early 1970s. In the late 1970s, Taiwanese plywood manufactures began to shift businesses to countries of origin (i.e., Malaysia and Indonesia). Having been exploited for more than 60 years, however, the natural resources in said countries of origin have substantially been depleted. As Wang Yung-ching, a renowned Taiwanese entrepreneur known as God of Management, stated, “There is no sunset industry, only sunset enterprises,” this study aimed to examine the development of Malaysia-based Taiwanese wood companies and to explore strategies enabling these companies to achieve sustainable management, transformation, or diversification management under the circumstances with limited resources and environmental problems.
Several business theories and models were adopted to analyze the existing Taiwanese plywood manufacturers in Malaysia. 1) Porter’s five forces analysis and SWOT analysis were conducted to discuss internal–external competition, market growth potential, and problems faced with said manufacturers. 2) Qualitative research was implemented through in-depth interviews with numerous companies involved in this study to reveal the process of diversification management. Resource-based view was also applied by exploring business resources to determine factors that essentially affected diversification outcomes of studied businesses. 3) Suggestions were provided for future management and development of diversification strategies.
Findings of this study were as follows. 1) The success of related diversification depended on suitability between resources and competence, whereas that of unrelated diversification was determined by the target industry as well as the thought and vision of business managers. Successful examples were usually seen in companies capable of leveraging tangible and nontangible resources and companies with low technology requirements. 2) Two factors determining the outcomes of business transformation and diversification were business partners and talents. Therefore, businesses managers should prioritize the establishment and management of a talent asset system as the developmental direction for business diversification. 3) By reviewing cases that failed, this study discovered that businesses should pay attention to environmental factors such as political, regional cultural, and economic factors in addition to their own resources and core competence. Failure of international or regional transformation or diversification was mostly caused by undesirable business–environment fit. The result of industrial analysis indicated that the development of plywood industry currently focuses on environmental protection and plantation forests raw-material. Future management will center on development of raw materials and new products, vertical integration, and intraindustrial informatization and automation. Despite different external problems, the studied companies, mostly family businesses, had encountered similar internal difficulties, namely 1) business reform, 2) creation of business culture, 3) ownership transition between the first- and second-generation owners, and 4) business transformation and diversification. The second- or even third-generation owners must solve the aforementioned problems. After problems are solved, plywood companies can change with times and attain sustainable management.

目 錄
論文審定書 i
誌 謝 ii
摘 要 iii
Abstract iv
目 錄 vii
圖次 ix
表次 x
第一章 緒論 11
第一節 研究背景與動機 11
第二節 研究目的 12
第三節 研究流程 13
第四節 章節與架構 14
第二章 文獻回顧 16
第一節 五力分析 16
第二節SWOT分析 18
第三節 多角化策略 19
第四節 資源基礎理論 30
第三章 產業分析 40
第一節 合板相關產品介紹與產業現況 40
第二節 東馬沙巴原始森林原木開採統計 42
第三節 東馬沙巴合板業總生產數量統計與出口市場分析 44
第四節 東馬沙巴薪資與台商合板工廠數量分析 46
第五節 東馬沙巴政府政策與其它因素 48
第四章 研究架構與方法 49
第一節 研究架構 49
第二節 研究設計 50
第三節 研究方法 51
第五章 產業多角化分析 57
第ㄧ節 馬來西亞沙巴州合板業五力分析 57
第二節 馬來西亞沙巴州合板業SWOT分析 59
第三節 產業分析小結 62
第四節 產業多角化適配度分析 63
第五節 合板產業多角化投資成功與失敗案例 70
第六節 研究發現 71
第六章 結論與建議 74
第一節 結論 74
第二節 建議 76
第三節 研究範圍與限制 77
參考文獻 78
附錄 83
附錄-訪談(調查)摘要 83

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三、網路
1.馬來西亞人力資源部門，最新人口統計報告。
http://minmumwage.mohr.gov.my/en/
2.馬來西亞工商發展局，2017年度最低薪資報告。
http://www.midf.com.my/images/Downloads/Research/Econs-Msia-2017-Salaries-Wages-MIDF-220518.pdf
3.馬來西亞沙巴州森林局，年度報告，第14章。
http://www.forest.sabah.gov.my/publication/annual-reports