Executive Team Characteristics, Company-level Strategic Change And Corporate Performance Relationship Empirical Research

With the global competition becoming ficere, customesr' needs changing constantly and the scientific technology developing more rapidly, the environment that enterprises exist in is no longer stable and predictable, but rather complex and dynamic. How to make strategy choices under such environment is an urgent subject to be solved both in theory and practice. But no matter what kind of strategic thought is dominant in enterprises, strategic change remains the constant subject of strategy management. Therefore, the study of strategic change should become the essence of strategy management.Summary of existing research, scholars focused on strategic change casued by the external environment or internal environment, but little research on the two worked together. This paper studies the relationship among environmental change, strategic change and firm performance based on the theory of corporate-level strategic change, introducting mediator and moderator.Following, this paper constructs the model, makes hypothesis and constructs indicators of the study variables.This paper selects samples from manufacturing enterprises of Chinese listed companies. Using SPSS 16 and LISREL 8.7 software, this paper studies the relationship among organizational factors, the change of TMT demographic characteristics, corporate-level strategic change, firm performance, strategic control behavior, and strategic flexibility. The results are as follows. The changes of TMT demographic characteristics have positive impact on the degree of corporate-level strategic changes and business performance. Organizational size has positive impact on the degree of corporate-level strategic changes, and organizational age has negative effects on the degree of corporate-level strategic changes. The changes of TMT characteristics influence the degree of corporate-level strategic change through the strategic control behavior, and strategic flexibility mediates the relationshiop of corporate-level strategic change and business performance. Based on the above conclusions, the paper makes some management recommendations when the company implements strategic change or in crisis.