| Summary: | 碩士 === 國立成功大學 === 企業管理學系專班 === 101 === Due to the recent rise of electricity rates and gasoline prices, the poor performance of state-owned enterprises has become a focus of public criticism. When we look into the history, there were several privatization cases performed pretty successful, but also some of them to be failed. The most successful case of privatization known as a benchmark is China Steel Corporation where we believe some critical success factors must be existing and be worthy of learning for enterprises as an excellent reference. By Contrast, learning from past failure cases can also let us know how to avoid any similar mistakes to be occurred again in future. This research is based on the Turnaround Stage Theory , with in depth discussion of success and failure cases, and combined with the author’s personal working experience in a specific company, Tang Eng Iron Works Co., Ltd. on a basis of case study to summarize the concepts on developed stages of privatization process, the key points of each stage for implementation, and the key factors of success of privatization. The conclusion and recommendations of this study are summarized as follows:
1. The execution of privatization should be applied based on the concepts of developed stages gradually. The three essential stages, including the strategical feasibility study, essential reforms before the release of shares, and the ongoing reforms after the completion of shares release of privatization, should be prioritized and modified for each respective company.
2. The communication with employees and their behavior ＆ attitude toward privatization are the key success factors. Therefore, proper human resource policies should be considered on each stage to minimize any resistance from employees and consequently led to a successful completion of privatization.
3. The government plays an important role on each stage, especially at the last stage after shares release. The government should gradually reduce his domination and avoid any improper interferes with the specific company. Moreover, the government should stand in a position of counseling and supervision to help building an effective management team or recommending any right strategic investors to guide the organization for ongoing reforms.
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