A Study On Strategy Of Power Generation Group In Industry Chain Perspective

Since the mechanism reformation of electricity power system of China, there are three types of co-exist competition power generation corporations formatted the generation sector of the power industry, such as the 5 power generation groups represented the central level power groups and Guangdong Yuedian Power Group represented the local state-owned power generation companies, as well as the GCL-Poly Energy as the representative of the foreign power plants. For eight years, on the one hand, the power generation industry has made many achievements in the power structure optimization, energy saving and environmental protection, the overall level improving of equipment and technology, and its capabilities to support the development of social and economic has been strengthened as well. On the other hand, the power generation industry is facing increasing development pressure and a lot of difficulties and uncertainties because of the contradiction between coal and power, the un-completed system reformation and other internal and external factors and impacts. Power generation industry is the leader of the whole power industry with a hub position in the industry chain. The healthy development of generation enterprises, especially some of the of large-scale power generation groups, and their performance will directly affect the orientation of the industry's development and reform, and ultimately affect the country's economic development and social stability. Therefore, it is important and has great practical significance and theoretical value to study the source, impact factors and effect path of the competitiveness of power generation enterprises, and research in how to deal with the more complex industry environment, adopt appropriate development strategies and other practical problem.Based on the realistic background, this dissertation took the 5 power generation groups represented the power generation companies as the research object. The characteristics of the generation industry, impact factors and effect path of the competitiveness of power generation groups and their current and future development strategy were researched from the perspective of power industry chain. Three innovations were formed during the research process as follows:Firstly, the special research perspective and objects. It is different from any previous studies that this dissertation was based on the real situation of power industry, took the power industry chain as research perspective with more overall situation, and the research object was the power generation group rather than a single generation company or any independent affiliated power generation company, and this choice brought strong practicality and novelty. Thus, the current findings of the study could explain the reality of power generation industry with highly relevant, universal and practical significance.Secondly, the sorting and improving of existing theory system, and the proposing of new concepts. The power industry chain theory system and model were constructed on the basis of industrial chain theory and practice of electric power industry. The vertical relationship of power industry chain and the impact of power industry chain to the power generation industrial competitiveness were the focuses in this study. The core concepts of vertical integration synergy and horizontal diversification synergy were proposed at the first time, providing a theoretical basis and tools for the further analysis of the impact factors and mechanism of power generation enterprise competitiveness.Thirdly, the constructing of analytical frame and the theoretical model for competitive analysis and the development strategy of the power generation groups. The impact factors system of competitiveness for power generation groups was build from the perspective of industry chain. And on this basis, the competitiveness impact factors of the power generation groups at different development stages were theoretical researched and empirical analyzed. According to these researches, one of the innovative theoretical views was pointed at the first time that the dominate factors impact the power generation industrial competitiveness in the current stage are the synergies degree of vertical integration and the optimized rate of transverse industrial structure. Based on empirical analysis, the impact factors structural equation path model of power generation groups competitiveness and the industry chain based vertical extension and horizontal expansion development strategy model of power generation groups were constructed. The issue that the power generation enterprises should focus on the enhancement of the synergies degree of vertical integration and the optimized rate of transverse industrial structure in the power generation industry chain was raised. This dissertation is composed of 5 parts:The first part, Problem Focus, that is Chapter 1 of this dissertation. First of all, a series of questions were proposed from the practical problems faced by the power industry, which are:What are the internal and external impact factors and impact mechanism of the power generation enterprises competitiveness? How to determine their position for the power generation enterprises in the current situation that the mechanism reform has not been finalized and the marketization degree of the power industry was still limited. How to deal with the increasingly competitive power market environment for the power generation companies? And how to achieve sustainable development facing the growing scarcity of fossil resources and increasingly environmental pressures? Furthermore, the significance, purpose and the ideas, framework of this study were generally described and introduced in this part.The second part, Theory Interpretation, includes Chapter 2,3 and 4. In the Chapter 2, first of all, the related documents and other literatures in the phases before and after the mechanism reform of power system of China was reviewed and assessed. Then, the achievements and limitation of current research were summarized. And furthermore, the strategic management theory, competition theory and industry chain theory involved in this article were systemized briefly. In Chapter 3, the evolution principle of the power industry was researched from the vertical and horizontal perspectives, and the development mode and current status of power generation industry at home and broad were compared, followed by the analysis of electricity products and power industry characteristics. Finally, the current status and market structure of the China power generation industry were analyzed. In Chapter 4, the electric power industry chain theory system was built based on the previous two chapters. This chapter is the results of theoretical interpretation, and also set up a theoretical platform for analyzing and solving the questions raised in the first part.The third part, Empirical Study, is Chapter 5 of this dissertation. This chapter analyzed the impact factors of the competitiveness of the Power Generation Groups, and formulated the impact factors system of the power generation groups competitiveness. Based on the impact factors system and via the Structural Equation Model, the power generation groups competitive analysis model and the impact factors and effect path were constructed in the perspective of industry chain. Finally, the competitiveness of 5 power generation groups and Guohua Power, Huarun Power, Guangdong Yuedian Electric Power Group were quantitative and qualitative evaluated respectively.The fourth part, Countermeasures and Cases, composed by the Chapters 6 and 7 of this dissertation. Based on the competitiveness analysis of power generation groups in the Chapter 5, the strategic environment of power generation groups was analyzed in accordance with the strategic analysis, strategic choice and strategic management and other aspects, and the development strategy of several main Power Generation Group's was summarized, vertical and horizontal compared and researched, and many advices for the strategies implementation in the current and future were recommended in Chapter 6. The power generation groups' strategy practices also could further confirmed the views pointed in Chapter 5. In Chapter 7, China Guodian Corporation, which is one of the power generation groups, was took as a research case. The transformation and development of China Guodian Corporation since the 11th Five-Year Plan was analyzed in depth as the concrete instance of the research in previous 2 chapters of this part.The last Part is Conclusion and Perspective. The major conclusions and outlook of the research were comprehensive summarized in this part, and the direction of the future research was pointed out as well.