Research On The Impact Of IFLYTEK's Innovation Ability On Corporate Performance

As China's economic development shifts from high speed to high quality,the transformation of past development methods and the transformation of economic growth has become an inevitable choice for China's economic development at this stage.As an important market participant,the company continues to innovate to become a necessary condition for meeting current and future development.High-tech enterprises are typical representatives of higher requirements for innovation.As a typical high-tech listed company in the voice industry,IFLYTEK has not stopped its pursuit of innovation.IFLYTEK started with Chinese voice technology.After 20 years of development,it is in a leading position in China's voice industry.Based on the theory of innovation,core competence theory and catastrophe theory,this paper analyzes the innovation ability of the case company in the past five years,and deeply explores the impact of innovation ability on company performance.First of all,based on the research results of the previous literature on innovation ability,the article analyzes the enterprise innovation ability as a system.Secondly,the indicators are selected from four aspects: R&D innovation ability and organizational innovation ability,including R&D expenses,R&D personnel,education level of employees,and patent applications.Thirdly,through the catastrophe theory to quantitative analysis of the innovation ability of IFLYTEK in the past five years,we can see that its innovation ability has steadily improved.Finally,after calculating and analyzing the changes of four traditional financial indicators and economic value added,such as the return on net assets,it is concluded that the improvement of the innovation ability of IFLYTEK has not brought obvious financial indicators to the company immediately,but it has developed from the long-term development of the company.From the perspective,the improvement of innovation ability is beneficial to the company's performance.On the one hand,IFLYTEK 's investment in innovation capacity construction is conducive to forming the core competitiveness of the company and laying the foundation for future profitability.The steady increase in innovation capacity has a positive impact on corporate financing,which is conducive to maintaining stable cash flow.On the other hand,the investment in innovative projects at different times is uneven,and the long-term investment in innovation projects from research and development to market has led to fluctuations in company performance.Innovative ability is a systematic comprehensive ability.It not only includes the specific ability of the enterprise in a certain aspect,but more importantly,it comprehensively considers the various capabilities,integrates them and makes them coordinate and interact with each other.In order to promote the case enterprise ascend and play a good innovation ability and improve the performance level,IFLYTEK is proposed in this paper should be adapted to the present stage our country's innovation environment to strengthen internal innovation power,coordinate internal and external resources to improve the level of innovation investment,accelerate the process of innovation,strengthen to the track on the basis of the different products of early market research development ability and later sales ability.