The Influence Of Retail Enterprise Strategy Adjustment On Enterprise Performance

After more than ten years of fierce competition in the retail market,e-commerce enterprises gradually fall into the predicament of flow and dividend exhaustion,while the traditional retail industry has been robbed of most of the market,and its supply chain system has been difficult to meet the market demand.Therefore,no matter e-commerce or traditional retail,a new business model is needed to break the current situation.Compared with e-commerce giants such as alibaba and JD.com,Suning has physical stores.Since 2009,Suning has been vigorously developing O2 O business model,this thesis expects to summarize the evolution process of Suning's strategic adjustment,compare with the industry and evaluate its performance,summarize the problems existing in the traditional retailers of the transformation process,put forward some suggestions for the future development of traditional retailing in the new retail environment.Firstly,the thesis summarizes the concept of resource basic theory,strategy adjustment theory,which derived from resource basic theory and performance evaluation theory.The innovation of this thesis is to quantify the intensity and direction of Suning's strategic adjustment by using the measurement model of strategic adjustment,so as to observe the strategic change each year.Then,according to the industry classification standards issued by the CSRC,conducting descriptive statistics on financial indicators of 97 retail enterprises listed in Shanghai and Shenzhen,observing the operating conditions of the overall retail industry in China with profitability,operating capacity,solvency anddevelopment capacity.By dividing the strategic stages roughly,mainly introducing a series of strategic adjustment measures of Suning after 2009.Including the development of online business,whole category and international business.Then,using the key strategic resource allocation measure model putting forward by Finkelstein in 1990.Refer to the research of several scholars,five key resources configuration dimensions are selected,such as advertising intensity,updating of fixed assets,non-productive expenditure,inventory levels and financial leverage,these five dimensions build the vector,through the change in angle,module and radian of the vector to measure Suning's direction,strength and total amount of strategic adjustment each year.On the basis of this model,analyzing the four capabilities and cash flow of Suning,EVA and tobin Q are also introduced to observe whether Suning is a value creation or value damage enterprise,and the analysis of long-term market performance was added.Finally,suggestions are proposed to improve the existing problems in Suning.The results show that the direction,strength and total amount calculated by the key resource allocation vector of the enterprise are consistent with the actual situation,which verifies that the model is sensitive to the strategy of the enterprise.From the perspective of case study,“online + offline” is an inevitable trend of the retail industry in future.Different from Gome's conservative strategy,Suning has never hesitated on the O2 O model.Suning shows poor profitability,high cost,insufficient capital utilization,and long payback period,but there is no significant financial risk.Suning's similar financial mode and the development of financial industry shows that it can be self-sufficient,the prediction of its' operating profit in the next five years also suggests that,with the gradual perfection of logistics base and the financial business,Suning's profitability is further strengthened.The future of Suning is worth looking forward to.