本論文藉由理論探討與訪談太陽能產業相關高階經理人，來了解太陽能產業發展方向以及所需的競爭策略，特別是在產業獲利不易、資金及資源取得相對困難的當下，如何進行有效的發展策略。本研究目的為:一、探討太陽產業過往發展的策略以及其良窳。二、探討茂迪公司捨棄過往垂直整合策略進而轉向水平整合策略，此一策略動機以及其可預期之將來發展。深入訪談六位太陽能產業高階經理人以及一位太陽能產業研究員後發現：
一、 太陽能產業一直存在著高度競爭的當下，適當的整併是完全合乎預期的。
二、 太陽能產業中不論是考量垂直整合或是水平整合的策略，端視各公司資源與能力擇優執行之。
三、 以茂迪公司自身資源與能力，高度垂直發展容易削減公司可用資源，反易招致投資後無法得到預期綜效的結果。
四、 以茂迪公司在產業中的規模以及本身專長的半體體能力，適度在矽晶太陽能電池領域進行整併，可藉由規模經濟，有效地以相對節省之資源往新世代技術發展，進而持續在太陽能產業中保持相對領先。

ABSTRACT
Integration Strategies under the Highly Competitive Industry, the Solar Industry's Case Motech
CHIANG, YI-CHIH
Dr.CHEN,YENN-RU
National Chang Kung University
In this paper, theoretical discussion and interviews by the solar industry related high-level managers, to understand the solar energy industry development direction and strategy needed to compete, especially in industry profits is not easy, relatively difficult to obtain funds and resources of the moment, how to conduct effective development strategy. The purpose of this study: First, to explore the solar industry in the past development of strategies and their virtue or vice. Second, investigate Motech abandon past vertical integration strategy and further to the level of integration policy, this policy may be expected of motivation and its future development. In-depth interviews with six high-level solar energy industry executives and one solar energy industry researcher found:
First, the solar industry has been the existence of a highly competitive moment, appropriate integer and is fully in line with expectations.
Second, in the solar industry is considering whether vertical integration strategy or horizontal integration strategy, shall each company resources and the ability to choose the appropriate strategy to execution.
Third, Motech company's own resources and capabilities, a high degree of vertical development company easily consume available resources, but easily lead to not get the expected results after investment synergies.
Fourth, Motech scale in the industry and their own specialization semiconductor ability, appropriate M&A(mergers and acquisitions) in the silicon solar cells field, it may effectively saving resources by economies of scale, more focus on new technologies, and then can continued to maintain a relatively leader position in the solar industry.
Keywords: PV, photovoltaic, solar energy, strategy, business level strategy, integration, vertical integration, horizontal integration, highly competitive market, resource constraints, Resource-Based View, strategic matrix, regional policy.

INTRODUCTION
For recent years, due to the international financial crisis influence and changes in the general environment to make shallow dish markets Taiwan enterprises exist face prodigious challenge.Taiwan’s economic recovery slowly, business transformation or upgrade innovation become Taiwan’s business life hot issue. Rresearchers found out the global market of usage on cosmetics had been more life-oriented, especially new developing countries are raising the popularity of cosmetics, force the industrial value of cosmetics in Taiwan and China had grow rapidly Companies want to achieve transformation need to put limited resources on core business. And In the upgrade process, will face to the change of business risk actually enterprises business performance and risk will inflect to financial information, so financial planning is an important economic management of business transformation. The research aimed to probe the connection of business transition strategy and finance management of minor enterprises. Through the experience of a Taiwan cosmetic firm developing private brand, could explore the investment and financing strategy and give assistance business would decrease the overall risk, and support business transform into private brand successfully. hence being a reference for other entrepreneur willing to develop private brand in further period.

MATERIALS AND METHODS
In this research, Motech Industries, Inc. is choosen as an actual case of The Altenative of Integration Strategy. Motech under the dramatic changes in the PV market and the intense competition from Red Supply Chain. How to adjust the competitive strategies to face competition in the market? Why business development strategy adjust as horizontal integration strategy from vertical integration strategy? And why with different business development strategy in different periods? How to conduct effective development strategy in different external enviroment conditions and enterprise itself with different conditions?
This research is “The Alternative of Integration Strategy in High Competition Industry: The Case of PV industry Motech Company”, so as to explore the case company‘s “How to adjust the competitive strategies to face competition in the market?”, “Why business development strategy adjust as horizontal integration strategy from vertical integration strategy? ”, “Why with different business development strategy in different periods?” and “How to conduct effective development strategy in different external enviroment conditions and enterprise itself with different conditions?” by using the Case Study Method to find out the Phenomenon, Story, Insight, and Implication thereat. By applying the Qualitative Research Method can properly meet the purpose to this research, that is through a single case study by collecting and analyzing its files and history, interpreting one or more decisions upon its phenomena and why/how these decisions could be adopted and what circumstances were occurred by these decisions, and exploring the key causes that affected its development via various theories.

RESULTS AND DISCUSSION
This paper provides in-depth interpretation and discussion to the case study respectively on the global energy demands, renewable enrygy demands, current solar energy technology and PV market development. The purposes of research, research questions, research results and conclusions are summarized as below: (1)Study the competition and cooperation trend of PV inductry. (2)Study the motivation of why Motech tend to horizontal integration from formerly vertical integration. (3)Evaluate the virtue or vice of Motech future development in different strategies.
This research of this study had found that (1) In the PV industry, different industries value chain must have very different professional core competencies. (2) For any kind of strategy, need uninterrupted discussion and revision in this rapid change industry. (3) Resource of a firm is limited, need focus on core value to develop high added value business. (4) Talent develop can improve management capabilities, management capabilities lead to sucess expansions. (5) Higher industry ranking can get better barganing power.

CONCLUSION
Regardless of resource constraints theory, resource-based theory or strategy matrix analysis, the impact of regional policy, these theory can with positive resolution of corporate strategy but cannot fully explained enterprise managers thought and decisions
Enterprise is a living, every moment will produce a relatively large change under different environment, appropriately adjust the strategy, enables companies to preserve their high competitiveness.
The Academic theory are very useful to collate and analyze historical business experience. But in real practice, best strategy will not come out by one or two theory or methodology, need overall reference all possible logical analysis and dynamic fine tune to fit current industry environment.

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