Research On Serivization Of Sports Goods Manufacturing Industry And Its Impact On Company Performance

As far as the current development of China’s sports goods manufacturing industry is concerned,although China has become a veritable sports goods manufacturing country and has successfully embedded in the global value chain,there is still a large gap compared with developed countries.In terms of production efficiency and product quality,China is in a weak position.Moreover,the demographic dividend of China’s manufacturing production has disappeared,the cost of domestic production factors has gradually increased,and the return of manufacturing in developed countries and the departure of OEMs have slowed the development of China’s sports goods manufacturing industry.However,with the rise and development of the service economy,many advanced manufacturing companies have undergone the transformation from single product production to providing value services to customers.Therefore,under the development trend of the service-oriented manufacturing industry,exploring the development logic of the service-oriented sporting goods manufacturing industry and its relationship with corporate performance is to meet the requirements of the high-quality development of the Chinese economy at this stage.First of all,this article sorts out the logic of the service-oriented development of the sports goods manufacturing industry based on the theory of industrial value chain,value co-creation theory and competitive advantage theory.The study found that advanced Internet technology,the increase of Internet users,the change of sports consumer demand,and the promotion of related industrial policies are the external motives for the development of the service-oriented sporting goods manufacturing industry;the need for product characteristics and the creation of competitive advantages are the internal motives.The service development process of the sports goods manufacturing industry is a transition from product-centric to service-centric,which mainly includes the product-oriented phase,product+service-oriented phase,and value co-creation phase.Enterprises can achieve service-oriented development by extending to the upstream and downstream of the industrial chain or completely demanufacturing.Servicization of the sporting goods manufacturing industry is conducive to the transformation and upgrading of the sporting goods manufacturing industry and the expansion of employment.Then this article explores the impact of the service development of the sporting goods manufacturing industry on company performance.First,it analyzes from a theoretical perspective that enterprise servitization can bring benefits to company in terms of strategy,finance,marketing,etc.,and that in the early stage of company servitization,it will face challenges in corporate organizational changes,business model transformation,customer relationship management,and new product development.Based on this,the research hypothesis that the servitization of the sporting goods manufacturing industry and company performance is a U-shaped relationship is proposed.In order to further verify the hypothesis,this article uses the 2015-2019 operating data of the sports goods manufacturing companies listed on the New Three Board,A-shares and H-shares stocks as the research samples.Drawing lessons from relevant research results and starting from the perspective of output servicing,the company’s other business income is regarded as the company’s servicing income,and the proportion of other business income in the company’s total operating income is used as a measure of the servicing level of the sporting goods manufacturing industry.Taking the return on net assets(ROE)and return on assets(ROA)as company performance indicators to explore the impact of the service-oriented development of the sporting goods manufacturing industry on company performance.The results confirm U-shaped relationship.That is to say,in the early stage of servitization development,due to the high cost of coping with many challenges,enterprises fall into the servitization predicament.With the deepening of the degree of servitization of companys,the dilemma of servitization has been overcome,and the successful transformation of the company,the benefits brought by servitization have gradually emerged,forming a unique market competitive advantage,and company performance will be improved accordingly.The study also found that with the expansion of the scale of enterprises,the servitization of the sports goods manufacturing industry is more conducive to the improvement of company performance.When the industry concentration is low,the competition between companies is fierce,the service-oriented development of the sports goods manufacturing industry is more conducive to the improvement of corporate performance.Finally,based on the analysis results,this article puts forward several suggestions from the country,enterprises and the research on the service of the sports goods manufacturing industry,in order to promote the development of the practice and theory of the service of the sports goods manufacturing industry.