交通部各港務局「公司化」改制為臺灣港務股份有限公司後，在面對嚴峻的港埠競爭環境，需要應用策略分析經營港埠多角化的可行性。本文使用層級分析法及灰關聯進行實證分析，並對兩者間之經營模式進行排序比較。經文獻整理並將相關多角化與不相關多角化理論之特點結合提出燈籠理論，使之可同時套用至進行兩種不同經營模式之企業。經由實證分析後發現在多角化經營模式的評量因素中，核心能力的管理能力相較於其他因素最為重要，其次是分散風險之策略風險。但在經營模式進行排序比較中，兩者並無差異；其排序優先是：垂直多角化，而後依序是水平多角化、複合多角化、同心多角化。

In the face of sever port competition in the maritime environment, Taiwan International Ports Corporation need to apply the strategic analysis on the feasibility of the operation of port business diversification. The study uses the Analytic Hierarchy Process and Grey Relational Analysis to analyze the data, and to rank the order of diversified business modes. After empirical examination the paper found that:(1)The related diversification and unrelated diversification theories can be integrated into the lantern theory, so that it can be applied to two different business models of a corporation. (2)Through empirical analysis, we found that in the diversified business model assessment factors, management capability of core competence dimension is the most important one, followed by strategic risk of risk diversification dimension. (3) Sorting by comparison in the business model, there was no difference between them. The order of sort priority is vertical diversification, and then horizontal diversification, conglomerate diversification, concentric diversification.