Exploring the Growth Exploring the Growth Strategy of Taiwanese Strategy of Taiwanese

Tourism VS Leisure Tourism VS Leisure from Resource-based from Resource-based

TheoryTheory

AbstractAbstract

The Leisure and Tourism is one of constantly evolving The Leisure and Tourism is one of constantly evolving sunrise industry all over the world.sunrise industry all over the world.

Taiwan offers Taiwan offers superior geographicalsuperior geographical and and cultural cultural advantagesadvantages,, a vibrant yet a vibrant yet stable economystable economy,, Service Service Distribution NetworksDistribution Networks , tightly integrated , tightly integrated service industrial service industrial infrastructure, professional talent and a skilled labor forceinfrastructure, professional talent and a skilled labor force..

The Taiwan government is dedicated to attracting The Taiwan government is dedicated to attracting investment by providing a good environment for corporate investment by providing a good environment for corporate operations. In addition, we clarify that applied operations. In addition, we clarify that applied Resource-Resource-based Theorybased Theory to Corporate Government strategies for to Corporate Government strategies for Leisure and Tourism industries to enhance customer Leisure and Tourism industries to enhance customer satisfaction and the performance of management.satisfaction and the performance of management.

IntroductionIntroduction According to the 2005According to the 2005 ～～ 2006 global 2006 global competitiveness report issued by the World competitiveness report issued by the World Economic Forum (WEF), in 2005 Taiwan ranks Economic Forum (WEF), in 2005 Taiwan ranks fifth in the world. In its 2nd report in 2006, fifth in the world. In its 2nd report in 2006, Business Environment Risk Intelligence (BERI) of Business Environment Risk Intelligence (BERI) of Switzerland ranks our investment environment Switzerland ranks our investment environment sixth in the world and third in Asia. sixth in the world and third in Asia. The assessments compiled by these The assessments compiled by these institutions, all of which enjoy a high degree of institutions, all of which enjoy a high degree of public trust, make it clear that public trust, make it clear that Taiwan has a low-Taiwan has a low-risk investment environment that is suitable for risk investment environment that is suitable for investment, and that its investment environment investment, and that its investment environment is a highly advantageous one.is a highly advantageous one.

A part of corporate governance is the A part of corporate governance is the possession of the knowledge, applied possession of the knowledge, applied experience, organizational technology, experience, organizational technology, customer relationships and professional customer relationships and professional skills that provide companies with a skills that provide companies with a competitive edge in the marketcompetitive edge in the market (Edvinsson (Edvinsson & Malone, 1997).& Malone, 1997).

The traditional organization's competition The traditional organization's competition model changed with the time that the model changed with the time that the knowledge becomes the essential factor in knowledge becomes the essential factor in the industrial economy development in the the industrial economy development in the future.future.

In this research, on the basis of the relevant In this research, on the basis of the relevant literatures and literatures and theories of Resource-based Theorytheories of Resource-based Theory ,,corporate governancecorporate governance,, and and Customer satisfactionCustomer satisfaction , the paper proposes a conceptual framework to , the paper proposes a conceptual framework to examine the relationship between the Resources examine the relationship between the Resources of the Leisure and Tourism industry , corporate of the Leisure and Tourism industry , corporate governance, and Customer satisfaction . governance, and Customer satisfaction .

This paper helped the practitioners This paper helped the practitioners to gain an to gain an understanding on the current status and future understanding on the current status and future development of corporate governance of the development of corporate governance of the Leisure and Tourism policies in TaiwanLeisure and Tourism policies in Taiwan..

Previous ResearchPrevious ResearchCorporate Corporate

GovernanceGovernance Resource-based Resource-based

TheoryTheory

Corporate governance was a kind of company's structure and the distribution of power and it was to decide the responsibility and the relationship among different stakeholders in the organizational operations(Alkhafaji ,1990).

Corporate governance could make sure the

investors to gain investment return in organization and it can help the company improve its financial and human resource through the law, economy and standard of corporate operation(Shleifer & Vishny 1997).

Corporate governance is a system that is used to reduce the agency problem between the managers and shareholders.

The internal of corporate governance mechanism includes employee welfares, participation decision-making, independent character of the board of directors and supervisors. The external of corporate governance mechanism is related to brand and stakeholders of benefits

Then the larger shareholders who aren’t managers have more controlling rights, the company value is higher (Lins, 2003). Kesner (1987) defined the ownership ratio of internal directors of a company is significantly and positively related to organizational performance. Yeh et al. (2002) indicated supervisors of the board have a positive relationship with corporate value.

Linking the R-BV and Corporate values theory offers Linking the R-BV and Corporate values theory offers the basis of a resource-based theory of the firm.the basis of a resource-based theory of the firm.

Resources are tangible and intangible accessed by firms for operations, production (Penrose, 1959). Firms have capital, competence, procedures, facilities, equipment, information, technology and so on developed by firms for efficiency and potency of strategic management (Barney, 1991).Amit and Schoemaker (1993) explain resources are sum of production factors which firms have owned and controlled.

Customer satisfactionCustomer satisfaction

Customer satisfactionCustomer satisfaction is is defined defined ，， an evaluation of the an evaluation of the perceived discrepancy between perceived discrepancy between prior expectations and the actual prior expectations and the actual performance of the product or the performance of the product or the consumers intellent that consumers intellent that consudmption fulfils some need, consudmption fulfils some need, desire, goal and that this fulfilment desire, goal and that this fulfilment is pleasurable.is pleasurable.

Oliver's (1980) cognitive model provides empirical

evidence that satisfaction mediates the difference between previous intentions and raised intention to produce a relationship which is stronger than simply the direct effect of previous period intentions on present periods. This evidence would lead to the expectation that satisfaction will lead to higher repurchase intentions.

Zeithaml and Bitner (2003) defined customers service as a series of activities designed to enhance the level of customer's satisfaction that is, the feeling that a product or service has met customer's expectation.Thus,how to increase customer's satisfaction is the most important ploy of the managers of firm.

Thus, as a consequence of above, the research question of this article is, how to engage the Resource-based Theory and Corporate Government to increase customer satisfaction.

Research Objectives Research Objectives and Operational and Operational

definitiondefinition

On the basis of the relevant literatures and theories of Resource-based Theory, corporate governance, and customer satisfied, the paper proposes a theoretical framework shown in Figure 1. Under the conceptual framework, this study will verify the following hypotheses:

H1: The Tangible Resource and customer satisfaction are positive correlation

H2: The Intangible Resource and customer satisfaction are positive correlation

H3: The Human Resource and customer satisfaction are positive correlation

H4: The Capabilities and customer satisfaction are positive correlation

Method Method

Pearson correlation analysis was performed

to gain insight into how firm’s resource items were associated with the overall customer satisfaction.

The constructs in this research include Tangible

Resource, Intangible Resource, Human Resource,and Capabilities.

Summary and Summary and Concluding RemarksConcluding Remarks

Improving product quality has a substantial,sustainable impact on improving customer satisfaction.

Facing market competition, a cooperate should integrate their all parts of firm's resource, and their upper and lower streams to form a complete supply chain in order to proceed efficient value added activities.