Research On The Value Creation Path Of Enterprise Diversification From The Perspective Of Resource Foundation

As an important expansion strategy of enterprises,diversification strategy is widely used in the production and operation process of enterprises,and is one of the important strategies adopted by the company to expand the scale of enterprises,obtain business synergy and seize market share.However,with the prevalence of diversification,many enterprises have dispersed corporate resources and increased operational risks,resulting in hindered enterprise development.In view of the relationship between diversified operation and enterprise value,there are three main views: "diversification premium theory","diversified discount theory" and "diversification independent theory".For how diversification acts on enterprise value,the resource base theory believes that the success of the implementation of the diversification strategy depends on its own resource conditions and ability to integrate resources,and there is a close relationship between the resource base of the enterprise and value creation.Then,with the prosperity of the market economy and the diversification of consumer demand,how enterprises should correctly implement the diversification strategy based on their own resources,seize market opportunities,enhance competitiveness and achieve value creation is a practical issue worth studying and exploring.in regard,this paper explores the resource basetheory as the starting perspective through a casestudy that utilises value creation of diversifiedoperation as the core research content,This casestudy is based on the success of Bloomage Biotechnology Corporation Limitedas the research object,and provides certain enlightenment suggestions for enterprises that implement or intend to implement diversified strategies.This paper first sorts out the literature and theories related to diversification strategy,diversification and enterprise value creation,and resource base theory and diversification,as the theoretical basis for the whole text.Secondly,the case enterprise Bloomage Biotech was introduced,and the performance of value creation under the diversified operation of Bloomage Biotech was explained by using traditional financial indicators,EVA evaluation indicators and non-financial indicators.Then,the specific path of diversified operation to achieve value creation is analyzed,and according to the resource base theory,the mechanism analysis is mainly carried out from three aspects:resource identification and evaluation,the implementation of resource integration measures,and the establishment of market competitive advantage,and the analysis framework of the value creation path of diversified operation of enterprises is constructed from the perspective of resource base theory.Finally,according to the path implementation framework,the specific cases are studied and analyzed,and corresponding conclusions and suggestions are drawn.The findings of this paper are as follows: first,the diversification of Bloomage Biologics has a positive effect on enterprise value,which confirms the view of diversification premium;Second,enterprise resource base is an important factor affecting the strategic decision of diversified operation,different resource conditions have different impacts on the degree of enterprise diversification,and having strong core resource advantages will help enterprises to carry out diversified operations;Third,choosing the appropriate resource integration method is conducive to enterprises to establish competitive advantages through diversified operations and achieve enterprise value creation;Fourth,the value creation path of enterprise diversification can be summarized as the enterprise selects the appropriate diversification strategy based on the identification and evaluation results of its own internal resources,and effectively integrates the resources by taking relevant measures to promote the enterprise to obtain unique competitive advantages at different levels,so as to achieve value creation and manifest itself through enterprise performance.The application value of this paper lies in the study of successful cases of Bloomage Biologics in realizing value creation based on diversified operation based on enterprise resources,exploring the analysis framework of value creation path of diversified operation of enterprises from the perspective of resource base,providing experience suggestions for enterprises that implement or intend to implement diversified strategies,achieve good progress.