Case Study On The Transformation And Upgrading Of Yanzhou Coal Industry Under The Background Of Supply Side Reform

The impact of the global financial crisis on the exports,manufacturing,even the entire national economy of China shows that economic development can not relying too much on the global market,but still need to give the priority to the expansion of domestic demand.Through both investment and consumption,we have achieved significant results,but meanwhile we have been facing troubles such as excess production capacity,heavy debt,intensifying of structural contradiction,consumers’ unsatisfactory with varieties and quality of products,etc.;China’s economic development has stepped into the new normal,that is from high speed growth to the high-middle speed growth,from the scaled and speedy extensive growth to qualitative and efficient intensive growth;The characteristics of the new normal of China’s economy is to realize the transition of economic growth drivers,that is transition from the previous growth driven with investments of capital,labor,and factors to drivers of innovation and total factor productivity,realizing inevitable choices of increased effective supplies through the structural reforms of supply side.Firstly,the reformation motivation of Yanzhou Coal Mining Co.,Ltd.was analyzed from two major aspects of both environment and enterprise factors in the article.From the point of environmental factors,the industrial system with high energy consumption is unsustainable,the contradictions the energy structures with high pollutions are sharpening,and the severe overcapacities seriously restricted the enterprise’s competitiveness;From the point of enterprise factors,the strategic planning,systems and mechanism of Yanzhou Coal has been not adapted to the development situations at that time,and new breakthroughs needed to be made to cost controls and business model innovations.Then,through the single case study method,the transformation and upgrading of Yanzhou Coal under the background of the supply side were systematically analyzed and researched from three major aspects of strategic reformations,institutional reformations and business models reformations,and from nine minor aspects of strategic positioning adjustment,industrial structure adjustment,regional locating adjustment,thinking concept changes,governance system reformations,management mode reformations,personnel system transformation,capital operation mode,operating and management mode.Based on studies,it was found to be preconditions of enterprises’ transformation and upgrading to adjust strategic planning timely according to the external environments and own demands of enterprises;it was the important guarantees of the enterprises’ transformation and upgrading to ensure the smooth implementations of enterprises’ strategies through corresponding system reformations or organization structure adjustments and establishment of effective systems;Regarding to the case of Yanzhou Coal,the successful implementations of internationalization strategy has laid the foundation of its transformation and upgrading.Finally,from the perspective of assurance of smooth and successful transformation and upgrading,related suggestions and recommendations were offered on the continuous measures of Yanzhou Coal.