企業存活(firm survival)，也就是企業如何有效地適應環境重大變遷，特別是由科技、競爭態勢、政治管制以及政經情勢重大變化所驅動的不連續性變化，一直是產業界與學術界關注的議題。過去二十年來，組織左右逢源的主張一直受到組織與管理學界的注意，相關的研究也如雨後春筍般地出現，且被認為可以增進企業的長期存活與績效，或成為競爭優勢的來源，包括「結構分立」(structural separation)、「行為整合」(behavioral integration )以及「循序轉換」(sequential alternation)等達成途徑已被廣泛認可。然而，在組織左右逢源的研究與概念發展上，公司治理與公司重組的重要性則一直被忽略。本研究首先檢視組織左右逢源的相關文獻，指出現有的研究忽視公司治理與公司重組在概念發展上的重要性；其次，分析影響組織發展左右逢源的因素，指出阻礙的因素通常來自高階經理人、高層團隊、董事會以及組織慣性等問題；接著，檢視私募股權(private equity)的實證文獻，詳細分析私募股權所發起融資收購(leveraged buyout)的治理模式與價值創造，藉此推論透過公司重組能增進組織的利用與探索取向，以彌補組織左右逢源在概念建構上的不足，並提出企業發展左右逢源的組織重組(organizational restructuring)途徑；最後，本文透過公司治理與重組來連結私募股權價值創造與組織左右逢源兩種研究領域，並提出一個探索性的概念架構，以分析企業的演化路徑與重組時機。;Firm survival, which involves adaptation of firms to discontinuous changes and initiation of strategic reorientation, has been the enduring topic of interest in both industry and academia. During the past two decades, organizational ambidexterity has been regarded as the solution that ensures firm survival and performance; consequently, various approaches including structural separation, behavioral integration, and sequential alternation have been adopted. However, corporate governance and corporate restructuring have been long ignored in the conceptual construction of organizational ambidexterity. This thesis systematically examines the literature relevant to organizational ambidexterity and private equity, incorporates the findings of private equity-led leveraged buyouts into the conceptual construction of organizational ambidexterity, emphasizes the key role of corporate restructuring in developing organizational ambidexterity, and proposes an organizational restructuring approach to organizational ambidexterity. Finally, this thesis provides a prototypical conceptual framework to account for the relationship between exploitation and exploration, incremental and radical organizational changes, and the timing for initiation of organizational restructuring in firms.
