V型反轉策略：K集團變革轉型個案研究

Abstract

本研究個案K集團創立於1976年，以不動產業起家，歷經20年之後跨足百貨、飯店等服務產業。1998年本土型金融風暴引發許多上市櫃公司連環爆出財務危機，動輒上百億元債務起跳，導致面臨償債困難，其中，不論是債權銀行接手重整，或是入獄服刑、潛逃海外，這些受到這一波本土型金融風暴中箭下馬的集團企業主，沒有人敢面對債務，並願意負責到底，除了K集團企業主H先生於1998年11月10日正式召開記者會，一肩擔下所有責任，並宣示償債決心：「我將不倒，也絕對不能倒，我將在有生之年，全力償還所有負債。」故本研究探討H先生如何帶領K集團從V字右邊一路往上反敗為勝2013年五年還掉債務，平均每天得還債800多萬元；又如何透過企業改造及經營策略調整，2017年旗下事業體都轉虧為盈，並於2012年旗下四大核心事業體營建、百貨、飯店、美食同時獲獎，成功轉型並發展出新的核心能耐，並於進而建立永續經營的基石。本研究以變革成功典範複製，提供相關產業經理人在面臨企業財務危機、策略規劃、體質改造及企業轉型成長等危機處理上有所啟發。

K Group was founded in 1976 and started as a real estate industry. The local financial turmoil in 1998 triggered a series of financial crises for many listed cabinet companies, and the debts of tens of billions of yuan jumped off, leading to difficulties in debt repayment. Among them, whether the creditor bank took over the reorganization, or imprisoned to serve a sentence, or absconded overseas. Under the turmoil of this local financial turmoil, no one of the group business owners dares to face the debt and is willing to take responsibility to the end. Except for the K group business owner, Mr. H formally held a press conference on November 10, 1998. Take all the responsibilities and declare my resolve: “I will not fail, and I will never fail; I will repay all my liabilities in my lifetime.” Therefore, this study explores how Mr. H led the K Group from the right side of the V to the bottom and succeeded, successfully transformed and developed new core capabilities, and further established the cornerstone of sustainable operation. This research is replicated as a successful model of change, and provides relevant industry managers with inspiration in dealing with crisis situations such as corporate financial crisis, strategic planning, physical transformation, and corporate transformation and growth.