Statistical Model For The Relationship Among Knowledge, Ability, Strategy Of Start-ups And Their Competitive Advantages

All enterprises want to be able to have a sustainable competitive advantage to lastfor centuries. In fact, there are few enterprises which can last forever. Because newventures have the disadvantage on founding time and it is difficult to compete withmature enterprises to obtain a competitive advantage in the market, there are prevalentphenomena with new ventures’ low survival rate and low growth rate. Therefore, fornew ventures how to survive and develop and how to overcome the “new creationdisadvantage” to achieve sustainable competitive advantage becomes an importantissue which should be solved, which was concerned by entrepreneur and scholars.In the study of existing competitive advantage of the enterprise, the resources,knowledge, capacities, strategies are considered to be a source of competitive advantage,and respectively have a positive impact on the competitive advantages, but their mutualinteraction relations and the mechanism is unclear, and whether is applicable to newventures is unknown. Therefore, according to the characteristics of the new venture, thispaper integrates the basic theory of knowledge, the basic theory of abilities, and theoryof competitive strategy to make knowledge, capacity, strategy, competitive advantagethese elements into an overall framework of the system, and from the triple perspectiveit explores deeply the formation mechanism and formation path of competitiveadvantage of new ventures to open black box theory of competitive advantage of newventures, to promote the rich of the theory of competitive advantage and thedevelopment of entrepreneurial studies. The paper is concerned about the following fourquestions:①Do knowledge, ability and strategic of new venturesome influence itscompetitive advantage?②How do the knowledge, ability and strategy of new venturesinfluence its competitive advantage?③How do the knowledge, ability and strategy ofnew ventures influence each other?④What kind of path and the way do new venturesobtain and maintain its competitive advantage?Based on the document research, the paper defines the connotation of knowledge,capacity, strategy, competitive advantage and other variables, and it divides theseelements by dimensions to build a theoretical model of the interaction relations amongevery variable. On the basis of theoretical analysis, it proposes correlation assumptions.It includes the assumption of knowledge impacting on competitive advantage; theassumption of the capacity impacting on competitive advantage; the assumption of strategy impacting on the competitive advantage; the assumption of knowledgeimpacting on the ability; the assumption of knowledge impacting on strategic; and theassumption of the ability impacting on the strategy. This paper has made comprehensiveresearch both at home and abroad, and defined the new ventures which were establishedwithin the eight years. As the new ventures of Chongqing conducting research for thestudy,238valid questionnaires were obtained. Integrated use of confirmatory factoranalysis (CFA), exploratory factor analysis (EFA) and structural equation modeling(SEM), it analyzes the survey data and does the processing, and verifies the assumptionproposed one by one. At last, it obtains the following conclusions:①The knowledge, capacity and strategy are important factors affecting thecompetitive advantage of new ventures, and all have made a significant direct orindirect impact on the competitive advantage of new ventures.②Among the three elements of the knowledge, capacity, strategy, the strategy canmake a direct positive impact on competitive advantage, and knowledge and capacitycannot make a direct positive impact on competitive advantage, but make an indirecteffect on the competitive advantage by strategy.③In the interaction of knowledge, capacity, strategy, the capacity have a directpositive impact on the strategy, and the strategy does not have a direct positive impacton knowledge, but have an indirect effect on the strategy by capacity.④The formation path of the new venture’s competitive advantage is knowledge→capacity→strategy→competitive advantage. The enterprises can take the model ofknowledge management→capability evolution→strategic competitive→competitiveadvantage to fight and maintain a competitive advantage.On the basis of empirical research, this paper analyzes a new native venture inChongqing, and that is to take “LaiDeKuai” growing case for example. In its growingprocess, it continuously gains a competitive advantage in competitive market byknowledge management, enhancing their ability and at the same time taking a flexibleright competitive strategy. The studies of the case do further verification instructions tothe conclusions of this paper.Compared with the previous research, the innovation points of this study are mainlyreflected in the following aspects:①This study proves that the knowledge and ability is not a direct impact oncompetitive advantage, but by acting on strategic indirect impact on competitiveadvantage, so strategy has a direct impact on competitive advantage. This research explains that how do the knowledge, ability and strategic and so on these factors affectthe competitive advantage of new ventures. It opens the theory of black box which thenew ventures’ competitive advantage forms, and enriches the correlation theory, andprovides empirical evidence of the Chinese situation for the debate which theknowledge, ability and strategy is directly affect the enterprise competitive advantage orindirectly affect the competitive advantage in academic circles.②Knowledge has significantly positive impact on ability, and ability hassignificantly positive impact on strategic. The knowledge has indirect impact onstrategy through ability. This study demonstrates that the essence of ability isknowledge, which provides Chinese situational empirical evidence. At the same time, itproves the influence path and the mechanism among knowledge, ability and strategy:the knowledge→ability→strategy. It provides an explanation that how the knowledgeand ability of new ventures make effect on organization strategy, which enrich therelevant theory.③The conclusion of this research reveals the forming path and mechanism of newventures competitive advantage: the knowledge→ability→strategy→competitiveadvantage. It also puts forward the new ventures acquire the way of competitiveadvantage for knowledge management→capability evolution→strategic competitive→competitive advantage. The research results provide feasible ideas for new ventureshow to obtain competitive advantage, enrich the theory of new ventures competitiveadvantage, and promote the development of entrepreneurship research.Theoretical and practical contribution of this research is to integrate the basictheory of knowledge, basic theory of capacity, the theory of competitive strategy, and byempirical studies it has proved the impacting path and the mechanism of the newventures competitive advantage is knowledge→capacity→strategy→competitiveadvantage, to open the black box theory of the formation of competitive advantage ofnew ventures. It has also constructed the theoretical model of new ventures obtainingcompetitive advantages, enriches the theory of enterprise competitive advantages andpromotes the development of entrepreneurship research, in practice, to reduce the highmortality rate of new enterprises, and to promote the new record enterprises continue togrow.