Research On The Latecomer Firms's Strategic Changes From The Perspective Of Composition-based View

The strategic change has always been widely concerned by the theoretical and practical circles.The purpose of strategic change is to achieve sustainable development of the firms.As the process of economic globalization accelerates,latecomer firms in emerging market countries have begun to join the global economy.In this process,latecomer firms face a complex and volatile external environment and an uncontrollable internal environment.At this time,strategic change is particularly important for companies to cope with the uncertainty of internal and external environment so as to obtain competitive advantages and steady growth.In recent years,it has been amazing that latecomer firms have made remarkable achievements in global economic development.Compared with international start-ups,latecomer firms have no valuable,scarce,difficult to imitate,and irreplaceable core competences highlighted by resource-based views.But why can they succeed? For firms lacking core competitiveness in emerging market countries,their competitive advantage is more likely to stem from the creative use of common resources in the catching-up process.This article uses a combination of theory and practice.We explore the process of latecomer firms strategic change and the factors through the form of literature research and case firm visits.Based on the theory of composition-based view(CBV)proposed by Lu Yadong,this article takes Nice Group as a case object and explores the mechanism of strategic change process of latecomer firms through a composition-based strategy consisting of compositional offering,compositional competition and compositional capability.This article first analyzes the development history of Nice Group.Since 1985,the Nice Group's strategic change development has been divided into three stages.Using the grounded theory research method and the Nvivo8 software for open coding,spindle coding and selection coding and finally we obtained 27 concepts,10 main categories and 4 core categories.This article uses case studies to open up the "black box" of latecomer firms' strategic change and explains the internal mechanism of firms strategic change and upgrading through the development of composition-based strategy.The study found that in the process of strategic change,the composition-based strategy evolves from“edge catching-up” to “innovation to upgrade” and finally to “integration”.In addition,the market positioning and value chain of the firm are evolving from low-end to high-end.The competitive advantage gradually evolves from cost leadership to differentiation.At the same time,external environmental market,technology,system and internal environment corporate culture and strategic consensus jointly drive the occurrence of firm strategic change.With the help of the Nice Group,this article explores the strategic improvement path of the latecomer firms which lacking core competitiveness.We opened the black box of latecomer firms' strategic change and there are certain theoretical and practical implications for both theoretical and practical circles.The rapid growth of latecomer firms has challenged Western traditional economic theory.This paper explores the law of strategic development with the basic theory of composition-based view(CBV),which has certain uniqueness and innovation.Finally,the article also objectively summarizes the limitations of the article and proposes research points that can be carried out in the future,which laying the foundation for subsequent research.