| Economic globalization has become irreversible trend. Global value chain as a tool can be used for industry and business issues, providing the basis for enterprises strategic choice. Technological progress and economic development promote the evolution of global value chain. The global industrial organization show new characteristics. Enterprises make strategic adjustments based on changing conditions.This article reviews and summarizes the related theories of global value chain. Researches can be generally divided into two aspects; one is about the constituent elements of the global value chain, including the composition of global value chains, sources of value, and the driving forces of global value chains. The other is about the governance of global value chain, the study of the coordination of global value chain relationships, hierarchy, module type, market type are different types global value chain governance.This paper analyses the evolution of global value chains, discover global value chain new features. From the aspect of global value chain elements, the technological progress promote the division of production in global value chain, the individual elements in global value chain become more and more important. Large-scale of market rather than production is crucial. From the aspect of global value chain governance, standards are developed and continuously improved. Coordination in value chain plays an increasingly important roleThe evolution of global value chain brings new features in the global value chain, changing enterprise's external environment. There are both opportunity and barriers. The expansion of market develops opportunities, market division brings more niche markets, and global co-production is conducive to comparative advantages. However, the evolution of global value chain has formed a monopoly on the global value chain. Absolute cost advantages of multinational companies and economies of scale advantages, multinational companies control the value chain standards, and also control key technologies and resources.Strategy choice should consider external environment and corporate capacity. This paper forms a strategic choice model from two dimensions in global value chain, the elements and governance of global value chain. This model divided enterprises into strong, moderate, weak three types according competitiveness. This provide a theoretical model of strategic choice for different enterprises in the global value chain, including the core strategy, co-competing strategy, innovation strategy, integration strategy, focus strategy and embedding strategy.Automotive industry is an important industrial sector. There are empirical studies based on statistical and financial data. The global automotive industry value chain has significant changed before and after the financial crisis. The vertically integrated mass production showed its weakness. The global automotive parts supplier and service supplier can gain large profit. The automotive industry's global chain in transformation does not yet have core enterprise.Finally this paper reviews Chinese automotive industry. Propose advices for Chinese automotive enterprise strategic choice. Chinese auto market developed rapidly, but technology is the short board, parts suppliers are not strong, auto service market is not enough. This paper proposes different strategies for different companies. Automobile manufacturing enterprises should pay more attention to technological innovation and new energy development, develop global value chain integration and innovation, and grasp the future core parts of the automobile industry. Auto parts suppliers should focus on a technical aspect or certain market, learn to advanced enterprise, embedded in the global value chain. Automotive service providers must firmly grasp the domestic market, improve service levels, create new business models, and actively participate in the international market. |
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