| Today’s world is experiencing major changes unprecedented in a century,China’s economy has shifted from a high-speed growth stage to a high-quality development stage,and a new round of scientific and technological revolution and industrial transformation is booming.The Central Economic Work Conference pointed out that in order to conform to the new pattern of global economic development,the advanced manufacturing industry should accelerate the integration with the modern service industry to cultivate new manufacturing competitive advantages,gradually form a new development pattern of "double circulation",and realize the optimization and upgrading of the industrial structure and the high-quality development of the modern economy.Organizational resilience is the ability of enterprises to resist risks and further increase growth when responding to adversity events in the competitive environment,which is crucial for manufacturing enterprises in an environment of increasing uncertainty and variability of economic development.Under the background of increasing uncertainties and unstable factors in economic development,as the foundation of national economic development,the development of manufacturing in the real economy is facing new challenges and opportunities,and it is urgent to improve the organizational resilience of enterprises to better cope with the impact of adversity events and achieve sustainable development.In this era,how to improve the organizational resilience of manufacturing enterprises has become one of the most important issues today.On the basis of this reality,this thesis takes the 2006-2016 A-share manufacturing listed companies in China’s Shanghai and Shenzhen stock markets as the research object,and divides organizational resilience into two dimensions: bouncing-back resilience and growth resilience.Analyze the effect of servitization on organizational resilience,and set up a moderated mediating effect model to explore the mechanism of manufacturing output servitization on organizational resilience.This article adopts the research method that combines theoretical research and empirical research,and carrying out the analysis through the research idea of “propose problems-analyze problems-solve problems”.Firstly,based on the basic introduction of characteristic facts of output servitization and organizational resilience of manufacturing enterprises,carry out a general analysis of the overall sample,the sample by industry and the sample by the nature of ownership of the enterprise.Secondly,this thesis conducts an analysis of the mechanism of how the output servitization of manufacturing enterprises affects organizational resilience and formulates research hypotheses.In particular,the indirect influence mechanism introduces the market power as the intermediary variable and the absorbed resources as the adjustment variable;then build the benchmark model and the adjusted intermediary model based on the data obtained by the CMSAR database,the RESSET financial database and corporate annual reports,using Stata and SPSS Conduct benchmark regression,robustness test,mechanism analysis and heterogeneity analysis;finally summarize the conclusions and countermeasure suggestions based on the empirical research results.The research in this thesis finds that the servitization of manufacturing output can significantly promote the improvement of organizational resilience,which is reflected in not only suppressing the volatility of enterprises during shocks to improve bouncing-back resilience,but also further promoting performance growth to improve growth resilience.The specific conclusions are as follows.To begin with,in terms of basic situation analysis,the overall service level of enterprises in the manufacturing industry is relatively low.This phenomenon has been improved to a certain extent under the guidance of policies in recent years.And the gap within the industry is relatively large.Compared with enterprises in medium-and-high-tech industries and non-state-owned enterprises,the extreme situation of the output service level of enterprises in low-tech industries and state-owned enterprises is more significant.The change trends of the two dimensions of organizational resilience of manufacturing enterprises are basically the same,especially the curve of rebound resilience is relatively similar.In addition,compared with low-tech industries and state-owned enterprises,the resilience curves of medium-and-high-tech industries and non-state-owned enterprises are less volatile.That is to say,the latter place a higher degree of emphasis and construction on organizational resilience.Then,in terms of mechanism analysis,the implementation of output servitization strategy by manufacturing enterprises can expand information sources to improve the risk response capability of enterprises,consolidate the relationship with stakeholders to ensure performance growth,and thus contribute to the improvement of organizational resilience.This effect is regulated by the intermediary transmission of companies’ market power and absorbed resources.The implementation of manufacturing output servicing strategy can promote the improvement of market power,thereby improving the organization’s ability to buffer and recover from risks.The direct and intermediary effects are both negatively regulated by absorbed resources.What’s more,in terms of heterogeneity analysis,it is carried out from three perspectives: the nature of enterprise ownership,the industry to which the enterprise belongs,and the effect of different periods.Firstly,based on the contextuality of organizational resilience,this article analyzes the heterogeneity influence of the three stages in the financial crisis.It shows that the servitization of manufacturing output has a significant effect on organizational bouncingback resilience only in the middle and late stages of the crisis,and it is not significant in the early stage;the promotion of growth resilience is significant in all stages of the crisis,and the effect is the strongest in the late period.Secondly,the output servicing strategies of companies in all industries with different technological levels can significantly promote the improvement of bouncing-back resilience,but effect of growth resilience in low-tech is not significant.Thirdly,state-owned enterprises and non-state-owned enterprises implement output service strategies can promote the improvement of organizational resilience,and the promotion of the latter is more significant.Finally,according to the research results,this thesis puts forward three suggestions.First,it is necessary to continue to deepen the implementation of the strategy of servitization of manufacturing output.The government needs to create a good external environment for the implementation.Specially,they can select potential industries and enterprises to make key breakthroughs.As for the enterprise itself,enterprises should improve the strategic awareness and action force of implementing output service.Second,it is urgent to increase the attention of manufacturing enterprises to build their own organizational resilience from the perspective of cognition and practice.It is necessary to build a resilient culture and a resilient economy from the inside and outside of the enterprise,so as to improve the ability of enterprises to cope and grow in the face of adversity events,and achieve sustainable development.In addition,enterprises should not only focus on the construction of product differentiation to enhance market power,but also reasonably allocate redundant resources to avoid excessive precipitation and redundant resources,thereby inhibiting the effect of the output servitization strategy on the building of organizational resilience. |
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