Research On The Path Of Value Creation In Digital Transformation Of Traditional Manufacturing Enterprises

Under the background of digital economy,the digital transformation of traditional manufacturing enterprises has become the main direction of development of domestic and foreign enterprises.Many enterprises in China’s traditional manufacturing industry have begun to actively promote digital transformation and achieved excellent results,and the Chinese government has also continuously issued relevant policy documents to promote the digital transformation of manufacturing enterprises,providing guidance and a good transformation atmosphere for domestic manufacturing enterprises.In 2015,the State Council issued the "Made in China 2025" pointed out:the deep integration of a new generation of information technology and manufacturing is triggering far-reaching industrial changes,the global industrial competition pattern is undergoing major adjustments,and China is facing great challenges in a new round of development.China’s economic development has entered a new normal,and the development of manufacturing industry is facing new challenges.To build a manufacturing power,digital transformation has become a major direction of the transformation of manufacturing enterprises,this transformation is both a challenge and an opportunity,the focus is on how manufacturing enterprises use this opportunity to create value for enterprises,which is the value creation path in the process of digital transformation of enterprises.In the process of developing into a manufacturing powerhouse,Sany Heavy Industry has successfully opened the road of digital transformation with its solid corporate heritage,and has achieved remarkable results.It sets a benchmark for traditional manufacturing enterprises.Therefore,this study takes the digital transformation of Sany Heavy Industry as a research case,takes the dynamic capability theory,resource arrangement theory and contingent theory as the theoretical basis,collates and summarizes the literature related to the digital transformation of manufacturing industry and enterprise value creation,reviews the research,and then designs this study on the basis of theory and existing literature.Firstly,the enterprise overview and digital transformation process of Sany Heavy Industry are sorted out in detail,and the digital transformation process is divided into the initial stage of digital transformation and the digital transformation strategy period according to the establishment time of the digital transformation strategy in Sany Heavy Industry’s annual report.Then,the path of value creation in the digital transformation of Sany Heavy Industry is qualitatively analyzed,the collected data is encoded,and the value creation path is summarized through the three-level coding,and it is found that it follows the path of "transformation behavior-value orientation-value creation results" to achieve value creation.Specifically,Sany Heavy Industry can improve its own learning and improvement capabilities,opportunity perception capabilities,and resource arrangement capabilities to improve the revenue level of enterprises and improve the core competitiveness of enterprises,thereby creating corporate value.Through the research on the digital transformation path of Sany Heavy Industry,it is found that its digital transformation conforms to the development trend and market needs at home and abroad,grasps its position in the entire industry,and effectively realizes the creation of corporate economic value and social value.This study can provide transformation ideas for other traditional manufacturing enterprises that are undergoing or preparing to carry out digital transformation,and finally conclude through the analysis:(1)The path of value creation of Sany Heavy Industry’s digital transformation is in line with the value creation path of dynamic capability theory;(2)The value creation of Sany Heavy Industry’s digital transformation benefits from the improvement of comprehensive capabilities in the transformation process;(3)The improvement of comprehensive capabilities in the process of digital transformation of Sany Heavy Industry conforms to the potential market requirements.