Study On Selection Of Enterprises’s Technological Innovation Models And Development Pathways

Innovation is an important means for companies to gain competitive advantageand obtain excess returns, but also it is the power source of a country to maintaineconomic growth and sustainable development. Facing increasingly fierce competitiveenvironment, combining the conditions of internal resources with limitation of theexternal environmental factors, companies must take appropriate technologicalinnovation model and development path, to deploy technological innovation activitiesand allocate innovation resources rationally, in order to achieve organic growth. As forthe country, the success of the macroscopic direction of the industrial technologyinnovation and forward-looking predictions, and scientific rationality of the nationalinnovation system construction, institutional arrangements as well as allocation ofinnovation resources to make the top-level design and overall planning, will guide theindustry driving into a different development track. Therefore, whatever for thecountry or companies, the selection of technological innovation model anddevelopment path is a crucial decision-making. This research is both theoretically andpractically significant and valuable.Based on exploration and analysis of impact factors of power source ofcompanies technological innovation, innovation resource allocation efficiencyevaluation model is constructed, selection method of technological innovation modeland development path has been concentrate on, and how to search M&A TargetCompany and decision-making method have been carried out. In addition,technological innovation activities of CNC machine tool industry has beeninvestigated and explored, especially three powerful countries in CNC machine toolindustry such as the United States, Japan and Germany, and two leading companies inthe technological innovation such as Siemens and Fanuc. Through many case studies,the main innovation achievements are summarized as follows:Firstly, impact factors of power source of companies’ technological innovationare explored and analyzed by using improved technology roadmap. Based on the viewof the technological innovation system, the drawing method of technology roadmap is improved. According to its interpretation of the technical situation, policyenvironment and market demand status information, a set of factors that affect theenterprises’ technological innovation are summarized, and theoretically analysis onhow the impact factors play a role and interaction mechanisms are carried out.Combined with the actual CNC machine tool industry technologies, technologyinnovation roadmap of CNC machine tool industry has been drawn, which reflects thedynamic development process of CNC machine tool technologies, to analyzecompetitive environment, market environment and policy environment which CNCmachine tool enterprises are facing. Impact factors of three powerful countries inCNC machine tool industry such as the United States, Japan and Germany, and twoleading companies in the technological innovation such as Siemens and Fanuc, whichare taken as typical cases, have been probed into, especially the interaction offirm-level corporate strategy and government policy of Japanese in the1980s whenJapanese surpassed the United States in CNC machine tool industry.Secondly, based on enterprise technological progress and management level,innovation resources allocation evaluation model have been Built. Taking into accountthat different factors of the power source of companies technological innovation willimpact in different way, the action mechanism of the source of power factors has beenstudied, including Granger causality analysis which involves variables of R&D input,patent and performance, AMOS factors underlying structure analysis of the powersource of technological innovation. By using variables of total factor productivity andpatent number, which are on behalf of the enterprise technological progress andmanagement level, and technology innovation output ability separately as the mainoutput variables, taking R&D expenditures and R&D researchers as the main inputvariables, DEA efficiency evaluation model and marginal elasticity analysis modelbased on canonical correlation analysis for technology innovation resource allocationhave been built. According to financial data in annual report of Siemens and Fanuc,empirical analysis of impact factors has been carried out to verify the Grangercausality relationship and the AMOS underlying structure among the three types ofvariables. Through the deep study of their technological innovation resourceallocation activities, recommendations and references have been provided for Chinese enterprises.Thirdly, selection methods of the enterprise technology innovation model anddevelopment path and decision-making model have been put forward. According tothe above conclusions, a quantitative selection model of technological innovationmodel and development path based on the impact factors of power source forenterprise technology innovation has been put forward. In order to reduce the failurepossibilities of technology integration in the post-merger, analytical framework ofmatching between acquirer’s resources and the target’s capabilities in technologicalM&A aiming to smooth technology integration, searching and evaluation method forthe target company have been provided, as well as the calculation method of thesimilarity and complementary degrees. Based on M&A cases of Siemens and Fanuc,quantitative analysis on how similarity and complementary affect the innovationperformance has been summarized. M&A cases of Shenyang Machine Tool havebeen illustrated, and some mergers and acquisitions advices have been put forward.Taking Siemens’s diversification development and Fanuc’s specializationdevelopment as example, how they use M&A to achieve their growth have beenexplained in detail, and the characteristics and laws of each development stage havebeen summarized. Through using variables of total factor productivity, patent numberand ROA (return on assets) on behalf of the enterprise technological progress andmanagement level, technology innovation output ability and conditions of corporateprofits separately, turning point has been examined and analyzed.