隨著環保趨勢的提升，各國開始發展廢棄資源再利用之政策，並追求發展完善的技術與商業模式，期待透由產業化落實環保。中國自2000年起，陸續針對生活垃圾中的餐廚垃圾處理發布了數項政策，並特別針對其中的廢食用油再利用進行規範。然而作為產業化發展核心的環保科技公司，在此環境中卻面對難以確保原料供應、缺乏合理利潤空間之困境。
本研究先運用PEST模型及五力分析討論中國餐廚垃圾與廢食用油處理之機會與威脅，其次以四川金尚環保科技公司為案例，分析其如何憑藉核心能耐建構起一穩健之商業模式，如鞏固關鍵資源、選擇具有成長性且價格競爭壓力低的市場、串聯起關鍵合作夥伴，以及建立妥善的流程等。
藉由檢視個案公司之商業模式、核心能耐以及其環境，研究者於結論給予個案公司三個建議：其一為面對中國政府課徵出口資源稅導致失去目標客戶，四川金尚應與其他中國國內能源產業業者結盟，向前整合並提升中國能源市場的成熟度，以確保自身利潤；其二為持續投資並善用其合法條件，向原料端進行整合，藉此深入各地鞏固油源，並擴大原料獲取管道。此一策略將可確保四川金之核心能耐，為其建立長久之競爭優勢；其三為打造餐廚垃圾全利用之商業模式，以其原料與合法之核心能耐開發更多市場，達到核心能耐利益極大化之目標。

With the uprising trend of environmental protection, countries start to develop policies on recycle and reuse of various kinds of wastes. Advanced technologies and feasible business models are pursued to commercialize the reuse of waste for the sake of environmental protection. China, since 2000, has announced a list of official documents on food waste treatment commercialization, which highlight the reprocessing of used cooking oil(UCO). However, as the center of comm policies, eco-technology companies are facing several difficulties, including the shortage on feedstock and fit business model to generate enough benefit.
This study first uses PEST model and five forces model to discuss the opportunities and threats of food waste treatment commercialization in China. Secondly, Sichuan Jinshang Eco-Technology Company is introduced to analyze its core competencies and business model, by inspecting how the focal company constructs one robust business model based on its core competencies, connects key partners with proper activities, as well as targets on market with high growth rate and low competition.
This research concludes three strategic advices for the focal firm. First is to alienate other firms in the related industries in pursuit of Chinese energy market elevation. Considering the target customers of the focal firm are almost from EU and U.S., the focal company need to invest in domestic value chain to cope with future export tariff on used cooking oil. The second is to utilize its certificate to integrate backward and increase the sources of used cooking oil collection. This strategy will help the focal company consolidate its core competencies and competitive advantages. The third one is to reconstruct its business model to reuse food waste comprehensively and maximum the profit of the focal company.

論文審定書 i
致謝 ii
摘要 iii
Abstract ix
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 5
第三節 研究流程 6
第二章 文獻回顧 7
第一節 中國餐廚垃圾及廢食用油處理相關研究回顧 7
第二節 PEST分析模型 16
第三節 五力分析模型 18
第四節 資源基礎觀點 20
第五節 商業模式分析 24
第三章 研究設計 32
第一節 研究架構 32
第二節 研究對象 33
第三節 研究方法 37
第四節 訪談摘要與初步彙整 46
第四章 研究發現 69
第一節 個案公司之PEST分析 69
第二節 個案公司之五力分析 87
第三節 個案公司之核心能耐分析 91
第四節 個案公司之商業模式分析 96
第五節 個案公司之商業模式總結分析與具體策略建議 103
第五章 結論與建議 107
第一節 研究結論 107
第二節 研究意涵 109
第二節 研究限制 109
參考文獻 111
附錄：訪談逐字稿 119

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