Abstract
The topic of this research focuses on the conflict between own branding and OEM in D-Link, which is the No.1 Networking manufacturer in Taiwan. The conflict between own branding and OEM had existed in D-Link for a long time. Till 2003，top management had decided to divide OEM from D-Link and establish ALPHA. Since then, D-Link has become a pure branding company. The evolution of D-Link could be separated into three stages：(1) Focus on branding, 1986~1996. (2) Adopt Dual-Axis strategy to catch branding business and OEM, 1997~2002. (3) Divide OEM from D-Link, 2003~. I choose the dynamic capabilities theory as the framework and to analyze D-Link how to manage the dilemma between own branding and OEM. I pick some events to do the analysis which base on three dimension in dynamic capabilities theory：process, position, and path. Managerial and organizational processes refer to the way things are done in the firm, or what might be referred to as its routines, or pattern of current practice and learning. Positions refer to its current specific endowments of technology, intellectual property, complementary assets, customer base, and its external relations with suppliers and complementors. Paths refer to the strategic alternatives available to the form, and the presence or absence of increasing returns and attendant path dependencies.