台塑集團經過半世紀的營運壯大，從一家生產塑膠粉的工廠，發展成為全球『垂直整合』最完整的石化集團。綜觀台塑公司的崛起、發展與茁壯，可謂是台灣本土創業具代表性的成功案例，其中麥寮六輕與台塑石化的成立更是扮演著關鍵性的角色，是台塑集團在台灣石化產業中的最後一塊拼圖，也是整個集團邁向石化產業多角化成長的最後一個里程碑。然而，台灣的石油上游除了台塑石化以後，更有一位大哥級的中國石油。台塑石化在國內隨時得注意著中國石油的一舉一動以制定合宜的競爭策略。雖然台灣國內的石化最上游只有兩家公司，但台塑石化在制定策略時除了考慮中油的競爭外，也必須兼顧國際石油的變化、社會形象、加盟站業者生計、股東權益等利益，進而做出正確的進出口、通路、和零售油價的政策。本個案旨在探討台塑石化在國內層層政策限制下的競爭策略及其集團未來的發展方向。

Formosa Plastics Group, once a factory for plastic powder production, has kept operating and growing for half a century. Her "vertical integration" has become the soundest among those petrochemical groups with the same strategy in the world. The development and growth of Formosa Plastics Group has been a successful iconic case in Taiwan’s local enterprises. The Sixth Naphtha Cracking Project and the establishment of Formosa Plastics Petrochemical (FPP) were the key factors and the springboard of Formosa Plastics Group to achieve her diversification growth. However, except for Formosa Plastics Petrochemical Corp., there is a strong competitor, China petroleum Corp., (CPC) which has stayed at the same stream for a long time. FPP has to watch and consider the strategic move of CPC as she makes her business strategy. Besides CPC, FPP has also to consider the following factors such as the international petroleum price moves, her company image, the interests of gasoline retailers, and the interest of her company shareholder for making a proper strategy to guide the policies of retailing channel, retailing gasoline prices and the local or export sales decision. How can Formosa Plastics balance the interests of herself, her retailers and her shareholders? How can Formosa Plastics make decisions about oil prices? Under the various considerations on the interests of stakeholders and the environmental factors, the purpose of this case study is to discuss Formosa Plastics' competitive strategies and her future development.