Research On The Innovation Strategy In The Intergenerational Inheritance Of Fuyao Glass

Since the reform and opening up,family businesses have developed rapidly and have become an important driving force for the development of the national economy.As a generation of entrepreneurs gradually enters their sixtieth year,choosing the right heir to take over successfully has become an urgent problem to be solved.At present,"children inheriting the father’s business" is the mainstream model of family business inheritance in my country.Due to the inexperience and lack of authority of the secondgeneration successors,it is often difficult to take over the company immediately,and the parents usually plan the layout for the second-generation succession.Research shows that family businesses with a willingness to inherit are more likely to adopt a long-term strategy and increase innovation.However,innovation activities are inherently risky,with a long cycle and poor visibility.The second generation is likely to reduce innovation investment for the motivation of "quick wins".At this time,the parents will arrange the layout in the Innovation Strategy-making,so that the enterprise can reasonably avoid innovation risks while maintaining competitiveness,so as to help the second generation take over smoothly.Based on this,Fuyao Glass is selected as a case study in this paper.As a leader in the automotive glass industry,Fuyao Glass has been in a leading position in R&D,and Kept R&D high even in the "turbulent" stage of intergenerational inheritance,which includes the help and support behavior of the parents for the smooth succession of the second generation.This paper divides the inheritance stage that Fuyao Glass has experienced so far into the "participation management" stage and the "joint management" stage,analyzes the motivation of Fuyao Glass’ s innovation,and focuses on the specific Innovation Strategy of Fuyao Glass in the two stages,analyzes the characteristics of innovation at different stages and the paternalism and help effect contained therein,and finally shows the effect of enterprise Innovation Strategy from multiple angles.In this paper,the paternalism and support effect of innovation in the process of intergenerational inheritance of Fuyao Glass is analyzed by combining the literature research,case analysis and event research,and the research finds:(1)The motivation for Fuyao Glass to increase innovation investment in the inheritance stage mainly lies in three aspects: the pursuit of extended social and emotional wealth,the construction of second-generation authority and the compensation for the loss of special assets.(2)In the stage of participation in management and joint management,Fuyao’s innovation presents different characteristics in terms of purpose and strategy.(3)Cao Dewang,the first generation,has carried out different innovation layouts in enterprise innovation activities to help the second generation to succeed smoothly and smoothly,which is embodied in:(1)Rationally allocating innovation resources;(2)Strengthen the basic construction of innovation and reduce the risk of innovation during the second generation of government;(3)Help the integration of the second generation of new ideas and build new special assets;(4)Help the second generation to inherit special assets and establish authority.Most of the existing literature uses empirical research on innovation in the intergenerational inheritance of family enterprises,and rarely shows the whole process of innovation activities in the process of inheritance.This paper supplements to some extent the theory of Innovation Strategy-making in the intergenerational inheritance of family businesses through specific case studies.At the same time,this paper divides the inheritance of case companies into stages,which enriches the phased and dynamic research of intergenerational inheritance to a certain extent.In addition,this paper studies case companies from the theoretical perspective of paternalism,and provides new theoretical evidence for paternalism and support behavior in intergenerational inheritance.Finally,the research in this paper also has certain practical significance,providing a reference for the intergenerational inheritance of family enterprises.Through the case study,the following revelations are obtained:(1)During the intergenerational transmission period,the innovation investment in process technology,products and business as well as management can be appropriately increased.(2)Optimizing the allocation of innovation resources in "exploitative innovation" and "exploratory innovation" to reduce innovation risks and maintain long-term competitiveness.(3)Improving the construction of innovation system from the aspects of culture,talent training,intellectual property system and innovation platform.(4)Government departments may support family enterprises by improving the institutional environment,providing funds to promote the innovation of family enterprises.