【正文】 onclusions. Main contents are as follows. First, this paper briefly discusses the theory of business model and determines the theoretical framework of the case studies. Through indepth analysis of the characteristics of the IC design industry, it further concludes that the key issues IC design pany faces are market, technology and funding, Reflect on the business model, namely positioning, business systems, Ramp。D capabilities, profit model, free cash flow structure. Then, this paper introduces the case of Kunshan Brigates Microelectronic Co., Ltd., its product and fund raising. By indepth analyze of the five essential elements of the business model, we can learn from its experience. We draw the following conclusions: 1. Choose a good business model is essential to enterprise39。s longterm stable rapid growth, especially for IC design pany, it is the key to its survival and growth. 2. The key issues of IC design pany’s business model should be： marketing positioning, business systems, Ramp。D capabilities, profit model, and free cash flow structure, the five key issues intertwined and influence with each other. By grasping the five key issues, the IC design co mpany can effectively reduce risk, and ultimately seize market opportunities to be successful. 3. While the demand for consumer products is huge and various, it is better for a startup IC design pany to focus on small to medium size market first, grow with the market, and avo id stiff petition as we normally see in the larger consumer IC market. In that, the IC design pany can obtain higher profit margin with fewer petition. 6 4. The IC design pany should maintain close relationship with IC distributors and solution providers, share profit and grow together. The marketing and sales team should put emphasis on selecting the right partner, work with them for market promotion and ultimately achieve rapid market expansion. 5. Ramp。D team is most critical resource of IC design panies, it’s very important to build up an excellent Ramp。D team with the capabilities of high speed product development, advanced technology mastering and innovation. So we should focus on attracting and training of the right people。 establishing a stimulating system with incentives and punishment, such as employee stock option plan, housing allowance。 meanwhile we should also pay great attention to the confidentiality of sensitive information. 6. Customization is a good profit model for IC design panies, as the main advantage is higher technical barriers, better profits, customer loyalty, and stable revenue. 7. In order to insure cash flow healthy, IC design pany should focus on three aspects: a) Ramp。D capabilities and the market prospects are keys to attract venture capitals。 b) Product sales revenue must replace venture capital funding eventually。 c) Establishing good relationship with upstream and downstream partners, better inventory management, shorten working capital turn around time, careful preparation for mass production, effective control of the agent. Due to the paper length and the author’s limitation, we can only touch some aspects of IC design panies’ business model. The case study is far not enough because of the specific characteristics o f Kunshan Brigates Microelectronic Co., Ltd. I will continue to research on this subject by observing, thinking and studying in my work in future. Keywords: IC design pany, business model, key issues, case study. 目 錄 第 1 章 緒 論 ............................................. 1 選題背景和意義 ........................................................................................... 1 研究方法和論文結(jié) 構(gòu) .................................................................................... 2 商業(yè)模式理論綜述 ....................................................................................... 3 商業(yè)模式的定義 .................................................................................... 3 商業(yè)模式的關(guān)鍵問 題 ............................................................................. 5 第 2 章 芯片設(shè) 計(jì) 行業(yè) 和 案例 企 業(yè)介紹 ........................ 8 芯片設(shè)計(jì)行業(yè)的發(fā)展和問題的提出 ............................................................ 8 半導(dǎo)體集成電路行業(yè)的特點(diǎn) ................................................................. 9 芯片設(shè)計(jì)行業(yè)的特 點(diǎn) ........................................................................... 10 芯片設(shè)計(jì)企業(yè)的關(guān)鍵問題所在 ........................................................... 14 昆山銳芯及其發(fā)展歷程介紹 ...................................................................... 15 創(chuàng)業(yè)團(tuán)隊(duì) .............................................................................................. 16 公司發(fā)展歷程 ...................................................................................... 18 第 3 章 定位和 業(yè) 務(wù)系統(tǒng) ................................... 22 定位 ............................................................................................................ 22 昆山銳芯定位的市 場 ........................................................................... 22 昆山銳芯市場定位的問題分析 ........................................................... 25 業(yè)務(wù)系 統(tǒng) ..................................................................................................... 27 昆山銳芯發(fā)展初期的業(yè)務(wù)系統(tǒng) ........................................................... 27 昆山銳芯改進(jìn)后的業(yè)務(wù)系統(tǒng) ............................................................... 27 昆山銳芯業(yè)務(wù)系統(tǒng)的問題分析 ........................................................... 27 第 4 章 研發(fā)能 力 、盈 利 模式 和 自由 現(xiàn)金 流結(jié)構(gòu) ............... 31 研發(fā)能 力 ..................................................................................................... 31 昆山銳芯的研發(fā)能 力 ........................................................................... 31 昆山銳芯的研發(fā)團(tuán)隊(duì)建設(shè) ................................................................... 33 盈利模 式 ...................................................