本研究建立於國際進入以及商業模式之文獻，提出商業模式四大構面的動態創新要素模型，檢視在新興市場中高科技廠商如何利用商業模式創新與聯盟的交互運用而整合為商業模式的創新。在理論發展上，本研究強調進入新興市場後外部資源開發之重要性，首先將企業外部學習成長策略如外部聯盟與網絡列為商業模式的要素之一。企業在進軍新興市場時便須依外部資源的累積來決定在新興市場的商業模式創新，而形成一個同時強調商業模式要素變動與外部資源累積之動態調整軌跡。在此一商業模式動態創新軌跡模型引導下，本研究採用比較個案研究方法，探討加捷科技與華苓科技這二家企業個案在中國之商業模式創新，並且解讀其軌跡發展的差異性與共通性。本文最後討論理論、實務意涵以及未來研究建議。

Drawing on the foreign entry and business model literature, this paper develops an alternative framework based on dynamic resources feedback for analyzing business model innovation process in emerging markets. This paper argues business model innovation in emerging markets begins with local alliance and resource from partners. This business model innovation is dynamic and path dependent, implying the dynamic business model innovation is shaped by organizational asset and capability that are evolved and accumulative in emerging markets over time. With the proposed framework in mind, the paper adopts a comparative case study methodology to analyze the business model innovation in two Taiwanese firms -- Chia Jei Business Technology company and Flowring Technology corporation. This paper concludes by discussion implications for theory, practice and future research.