Research On Value Creation Of Green Transformation From The Perspective Of Resource Orchestration

Recently,with the attention of environmental pollution problems,the state has started to pay attention to the green development of the steel enterpise which gives heavy pollution,and green transformation has become more and more necessary for the survival and development of companies.Existing research on green transformation and its value creation mainly starts from different motivation,behaviors,and implementation countermeasures,but rarely divides green transformation into stages and studies the specific process of transformation in different stages and the value creation effect in different stages.Meanwhile,when talking to green transformation,the resource orchestration theory has not been used frequently.According to the mentioned reasons,this article focuses on the process and effect of value creation through green transformation of HBIS from 2009 to the present from the resource orchestration perspective.Based on resource orchestration and dynamic capability theory,this article collates and summarizes the literature related to green transformation,green dynamic capability,resource orchestration and value creation.On this basis,this article compares the green transformation process of HBIS and divides the transformation into three stages according to key milestones and the company’s development strategy-budding stage,accumulation stage and development stage.Then analyzing the green transformation motives,the process of constructing resource portfolio,integrating resources to form capacity and leveraging resources to obtain value in the three stages,and exploring the correlation between the transformation behaviors in each stage by combining the resource orchestration behaviors and value leveraging methods.Finally,the paper explains the value creation mechanism in each stage,and explains the value creation mechanism from the three dimensions of financial,capital market and social value of the three stages.The results show that:(1)green transformation is a long-term process,and the division of its stages is more helpful to clarify the logic and focus of its inner development,which can be based on the key events and development strategies of enterprises.(2)In terms of the motivation of green transformation,there are three types including macro-level,meso-level and micro-level,and specific driving factors play a role in different stage of transformation.(3)In terms of the concrete process of transformation,different stages have different resource orchestration methods,which presents the following features:In resource construction,companies must experience the process of constructing in the beginning,and then they will optimize and consolidate the resource combinations.In resource bundling,as the transformation goes on,the strategy of integration will gradually transfer from abundant type to pioneering type.In resource leveraging,the process follows the idea of "chain of valueindustrial chain-ecological chain,showing the characteristics that "from small to large" and"from shallow to deep".At the same time,the stages of green transformation are interrelated,and the resource arrangement of the latter stage relies on the accumulation of the former stage.(4)In terms of value creation of green transformation,the value creation dimensions of different stages are different and show a gradual superposition:the value effect of the budding stage reflected in business expansion,green cycle,etc.,and the financial value is realized through the implementation of green achievements,the cut of cost,higher efficiency and new point of benefit.In the period of transformation and accumulation,the diversification of product performance and marketing network is realized,the prying of industrial chain enhances the financial value,at the same time,the expansion of reputation helps to form the creation of capital market value.In the period of transformation and development,the quality development of customer resources is very obvious,and the brand image is continuously improved.This stage enhances social value in terms of environment,employees,and social responsibility,in addition to generating financial value and capital market value.In conclusion,this article presents the complete evolution process and value creation results of HBIS’s green transformation from the perspective of resource orchestration,which theoretically enriches the study of green transformation based on resource orchestration,and then incorporates the green dynamic capability into the resource orchestration framework to better integrate resource orchestration with green transformation From a practical point of view,this paper also proves that enterprises need to clarify the stage tasks,focus on the resource orchestration methods in different stages,reasonably use integration strategies,and grasp the value leveraging carriers in each stage of green transformation,so as to enhance the value.