Strategic Participation Of Board Of Directors,iteration Of Core Competence And Its Performance Research

Resource-based enterprises are a kind of enterprises that master a large number of valuable and scarce resources.The possession of these resources not only brings them competitive advantages,but also some problems,such as over-dependence on natural resources,serious pollution to the environment,"two high and one low" extensive development path,and so on.Under the background of the fourth industrial revolution,the economic growth rate continues to slow down,the overall adjustment of energy structure,and resource-based enterprises are faced with dual challenges from technology and environment,so they need to realize fundamental transformation from the strategic level.As the first person in charge of enterprise strategy and core competitiveness,the board of directors undertakes the strategic deployment and iterative optimization of core competitiveness of enterprises under different times.In the face of dynamic changes in the external environment,the board of directors USES its own background and professional knowledge to make judgments,and influences the organizational results such as the core competitiveness of the enterprise through supervision and strategic engagement,and ACTS on the enterprise performance.It focuses on the relationship between the strategic participation of the board of directors,the iteration of core competence and the performance of resource-based enterprises.According to the theoretical and practical needs,data of 81 resource-based listed enterprises for five consecutive years from 2014 to 2018 were selected as the research samples for this paper.Through factor analysis,it is found that the core competitiveness of resource-based enterprises has certain stability,mainly including three factors: scaleand resources,solvency,profitability and growth ability.Moreover,the iteration cycle of core competitiveness is relatively long,requiring at least five years,which goes through three stages: exploration period,construction period and harvest period.Resource-based enterprises still need to accelerate the iteration of core competitiveness by increasing r&d investment and attaching importance to intangible assets.The empirical results show that the iteration of core competence has a significant positive effect on enterprise performance.The board's participation in the formulation,execution and monitoring of the implementation of the strategy is beneficial to the improvement of enterprise performance,it also has a significant positive impact on the iteration of core competitiveness.The results confirm the long-term impact of core competitiveness iteration on enterprise value in resource-based enterprises,and indicate that the overall strategic participation of the board of directors is low,but it has a positive impact on enterprise financial performance.The research conclusion has important practical value for resource enterprises to optimize the strategic function of the board of directors and maintain the competitive advantage.