本研究透過資料收集法、參與觀察法及MERSI理論架構等方法,對台灣水族產業個案公司的企業轉型策略做研究。研究發現:台灣水族產業的主要營業項目有二:1、觀賞魚,2、水族器材用品,其產業特色:1、風水觀念,2、休閒文化,3、空間美感,4、教育意義,5、多元化。整體而言,廠商均面臨不轉型則無以為繼之困境,本研究以宏揚水族的個案,分析水族產業廠商如何轉型之策略。研究發現:個案公司之第一次轉型策略績效良好;第二次轉型策略,在成本效益、風險評估與可行性分析方面,均呈正面之趨向。個案公司是台灣水族產業的老牌大廠,其轉型策略可作為其他廠商轉型之參考。 This research aims to explore the business transformation strategy of case company through the induction & deduction of the following data sources: secondary data collecting, deep interview, participation observation and the theory of MERSI. The research discovered: there are two main sale items, ornamental fish& aquarium equipment, in Taiwan’s aquarium industry. The unique characteristics of aquarium industry in Taiwan: geomancy idea, leisure cultures, spatial esthetic sense, pedagogical meanings& multiplications or relatedness. As for the whole, the aquarium firms in Taiwan face the fate to transform or die. This research focuses on finding out the right transformational strategy for Taiwan’s aquarium firms, with the implications of case company’s business model. This research discovered: the performance in the first transformation strategy of case company was good; the second transformation strategy, in terms of the cost & benefit analysis, the risk analysis and the feasibility study, totally showed going towards to the positive direction. The case company in point is one of the aquarium firms in Taiwan establishing brand, and its transformation strategy provides a reference for those aquariums in Taiwan, which plan to transform.