Research On The Resource Integration Process And Performance Of State-Owned Enterprises

Before the popularization of the Internet,the iron and steel industry had problems such as excess production capacity,low industry concentration,unbalanced industrial distribution,and poor information on the supply end,circulation end and demand end further led to the iron and steel resource mismatch,low transaction efficiency,high cost.To effectively solve the problem of overproduction,from 2015 to 2020,a number of ministries and commissions issued policies on steel industry overcapacity reduction,proposing five tasks of "overcapacity reduction,destocking,deleveraging,cost reduction and strengthening of weak links",requiring further reduction of steel capacity and improvement of resource utilization.The core purpose is to help steel enterprises optimize industrial structure and improve profitability.At the same time,the increasing popularity of Internet technology makes traditional industries integrate with it to achieve transformation and upgrading.The Three-year Industrial E-commerce Development Action Plan released by the Ministry of Industry and Information Technology in 2017 pointed out that the innovation and development of e-commerce platforms for bulk raw materials such as steel should be encouraged,and the transformation from an industry information platform to a transaction service platform should be accelerated,which further supported the iron and steel industry Internet platform at the policy level.Although the mixed ownership reform has experienced many years of exploration and implementation in our country,it remains to be further studied that how to integrate the resources and realize the integration with the Internet in the process of transformation.Therefore,this paper chooses Ouyeel,a subsidiary of Baowu Group,a leading enterprise in the iron and steel industry,as the research object and uses the case study method to study the resource integration process and performance of Ouyeel,focusing on the analysis of its resource integration process and its effects.Based on the principal-agent theory,resource-based theory and synergistic effect theory,and combined with the research on mixed ownership reform and resource integration,this paper analyzes the resource integration process of Ouyeel.Firstly,this paper introduces the business model of Ouyeel and analyzes the resource integration motivation of Ouyeel.Secondly,this paper analyzes the resource integration process of Ouyeel from the four aspects of resource identification,acquisition,allocation and utilization,that is,and concludes that Ouyeel selects strategic investors by identifying resource gaps in the identification stage.In the acquisition stage,we reach deep cooperative relations with external enterprises by introducing strategic investors and mergers and acquisitions,and finally obtain a variety of heterogeneous resources.In the utilization stage,through comprehensive internal and external resources reorganization,the upgrade and optimization of Ouyeel business model was realized.Finally,based on the balanced scorecard theory,this paper analyzes the overall resource integration effect of Ouyeel from the financial and non-financial aspects.The following conclusions are drawn from the analysis of this paper:(1)the mixed ownership reform of state-owned enterprises first solves the problem of "who to mix with",which is essentially the stage of "resource identification" and "resource acquisition" in resource integration.In this stage,the company chooses the company with complementary resources and strong capital strength as the strategic investors according to its strategic objectives.(2)After determining strategic investors,state-owned enterprises need to solve the problem of "how to mix".At this stage,the company allocates resources at the organizational level to effectively improve the corporate governance mechanism.At the same time,the company makes full use of the resources brought by strategic investors to improve the industrial layout of the offline supply side and the logistics side,and realizes the innovation of the business model through its own technological changes online.(3)Through the integration of resources to play a synergistic effect,Ouyeel successfully realized the strategic transformation.In the process of mixed reform,the resource integration plays a positive role in improving the financial and non-financial performance and enterprise competitiveness.There are two main innovations in this paper:(1)Innovation of research perspective:From the perspective of resource-based theory,this paper studies the resource integration process of enterprises in the mixed-ownership reform,and reveals how state-owned enterprises carry out resource restructuring to give play to the synergistic effect;(2)the research content innovation: the research to the Ouyeel is not limited to the study on the causes,patterns and performance of mixed reform.The research results of this paper have enriched the researches related to resource integration and mixed ownership reform,and also provided a reference for how to integrate resource in the process of traditional industry enterprises transformation to the Internet.