| The development quality of Chinese manufacturing firms affects the overall level of China’s economic development.According to the innovation and entrepreneurship development strategy proposed by the state,Chinese manufacturing firms urgently need to carry out strategic upgrading in technology,products and management mode,so as to solve the problems such as insufficient independent innovation ability,low production management efficiency and backward business model revealed in the transformation process.Entrepreneurial orientation reflects the entrepreneurial tendency in the process of strategic decision-making,and runs through the whole process of promoting performance improvement by actively pursuing risky innovation activities.With the advent of the digital era,the digital revolution with big data,cloud computing,artificial intelligence and the Internet of Things as the core technologies has promoted the in-depth implementation and implementation of entrepreneurial orientation in firms.The transformation of resource development,allocation and utilization mode guided by entrepreneurial orientation helps Chinese manufacturing firms to overcome the constraints of resource constraints on the pursuit of high-quality development,and makes them improve the possibility of winning the future through active strategic deployment and adjustment.According to strategic choice theory,resource orchestration theory,strategic change theory and dynamic capability theory,this paper constructs the research framework of "entrepreneurial orientation-strategic change-firm performance",centering on the following three issues:(1)Exploring the influence of entrepreneurial orientation at the firm level on the performance of Chinese manufacturing firms.(2)In order to understand the entrepreneurial orientation cause the realization of the change path of the performance of Chinese manufacturing firms,this paper introduces strategic change as a mediating variable,respectively to investigate the relationship between the innovativeness,proactiveness and risk-taking of entrepreneurial orientation and longitudinal and horizontal strategic change,as well as the mediating role of strategic change in the relationship between entrepreneurial orientation and the performance of Chinese manufacturing firms.(3)From the perspective of dynamic capability,this paper analyzes the boundary conditions of the process and the performance result of the entrepreneurial orientation of Chinese manufacturing firms.The paper tests the moderating role of the resource loss control affected by internal control quality,and the resource supplement acquisition influenced by financial flexibility,in entrepreneurial orientation and the manufacturing firm performance,the entrepreneurial orientation and the strategic change of manufacturing firm,and the entrepreneurial orientation affecting the firm performance through the strategic change.The following conclusion is drawn based on the sample data of main board listed manufacturing firms in China:(1)The positive impact of entrepreneurial orientation on the performance improvement of Chinese manufacturing firms can only be realized through the process of the first decline and then rise.(2)The reintegration and deployment of various key resources caused by the entrepreneurial orientation is an important factor affecting the strategic changes to carry out in manufacturing firms.The longitudinal and horizontal strategic changes affected by innovativeness,proactiveness and risk-taking will show a trend of heterogeneity.(3)Entrepreneurial orientation affects the performance by causing the strategic change of reconfiguration of key resources.Only through the adjustment of strategic deployment can innovativeness,proactiveness and risk-taking of entrepreneurial orientation achieve the effective improvement of performance level.The positive effects of resource base upgrading and resource utilization improvement stimulated by innovativeness and proactiveness can promote performance improvement by promoting firms to carry out longitudinal strategic changes to correct their strategic disadvantages.However,the risk-taking enables manufacturing firms to achieve performance improvement through horizontal strategic changes beyond the competitors in the industry in the process of improving the sensitivity of environmental changes and enhancing the capability of market expansion.(4)Reflecting the dynamic capability level of internal control quality and financial flexibility respectively in the control of resource loss and access to resources affects the relationship of the entrepreneurial orientation and the firm performance,the entrepreneurial orientation and the strategic change,and the entrepreneurial orientation affecting the firm performance through the strategic change.In addition,different focuses of dynamic capability building play obvious differences in the process of entrepreneurial orientation realization and producing results.By comparison,it is found that financial flexibility plays a more obvious moderating role in the relationship between entrepreneurial orientation and the performance of Chinese manufacturing firms,and internal control quality plays a more effective moderating role in the process of entrepreneurial orientation and strategic change and entrepreneurial orientation affecting the performance of manufacturing firms through strategic change.The innovation and theoretical contribution of this paper:(1)Based on the strategic choice theory,this paper constructs a research model on the impact of entrepreneurial orientation on the performance of Chinese manufacturing firms.The existing research is limited to the study of entrepreneurial orientation at the firm level,which ignores the sample of manufacturing firms,and there are still differences in the understanding of entrepreneurial orientation performance results.This paper examines the performance results of multi-dimensional entrepreneurial orientation,which not only helps to enrich the level of entrepreneurial orientation research,but also provides a new theoretical perspective for understanding the relationship between entrepreneurial orientation and the performance of manufacturing firms.(2)This paper introduces the resource orchestration theory and strategic change theory into the strategic choice model,explains the process of the entrepreneurial orientation affecting the strategic change and the firm performance in different directions,not only expands the research on the trigger factors of strategic change in manufacturing firms from the perspective of entrepreneurial orientation,but also reveals the new path of the entrepreneurial orientation causing the firm performance change in manufacturing firms from the perspective of strategic change.By visualizing the process of realizing the abstract entrepreneurial orientation,the analysis of Chinese manufacturing firms changing their cognitive influence behavior through internal entrepreneurship to produce results is more scientific.(3)This paper combines strategic change theory with dynamic capability theory,and introduces the internal control quality and financial flexibility which reflect the level of dynamic capability as moderating variables on the basis of the mediating mechanism.This paper studies the influence of resource consumption control and resource supplement acquisition on the play and realization effect of entrepreneurial orientation,expands the research on the boundary conditions of the performance results and the realization paths of entrepreneurial orientation,deepens the analysis on the efficiency of strategy implementation and the quality of strategic decision-making of entrepreneurial orientation of manufacturing firms. |
PDF Full Text Request