Research On The Growth Of High-Technology Enterprises Based On Product Innovation

Considering product innovation as the engine for the sustainable growth of High Technology enterprises this dissertation aims to explore the influencing factors, mechanism, core competence, strategy, mode and performance evaluation for the product-innovation-based growth for the enterprises involved in the high technology industry. The main body of this dissertation consists of five major parts, in each of which both theoretical analysis and empirical study are applied. As a starting point in the first chapter this dissertation argues the research background and significance on the basis of a broad literature review, and introduces the methodology and objectives for this research. From the perspectives of product innovation, corporate life cycle and core competence the second chapter briefly introduces the fundamental theory for the purpose to fertilize the following chapters.As the first part the third chapter focuses on exploring the influencing factors and mechanism for the growth of high-technology enterprises based on product innovation. All possible influencing factors are categorized into three parts in terms of motivating factors, restraining factors and dual forces.As a result this part sets up a conceptual model for the key motivating factors and a joint-force model for are all factors. To well explain the mechanism for the impact on the product-innovation-based growth from all factors this part tries to set up a model by applying the principles of life system from the perspective of biology. To testify the rationality of such effort this chapter empirically identifies the influencing factors by a questionnaire survey at a company involved in the Hi-Tech industry.The fourth chapter as the second in the main body conducts a dynamic analysis of the core competence system for the growth of Hi-Tech enterprises with the purpose to understand the function of product innovation in helping the formation of the core competence and sustainable growth in the whole system. It divides the core competence system into four subsystems, which are respectively named as product innovative subsystem, strategic subsystem, market subsystem and management subsystem.Based on a dynamic model this part sets up several models to figure out the positive feedback and negative feedback among different subsystems, and the cause-effect relationships between all elements in each subsystem.A case study with Company BL as an example has been conducted about the system of core competence for high-tech enterprises. The fifth chapter discusses the feasibility of different strategies both for product innovation and competition for different stages during the growth course for the hi-tech enterprises by applying the theories of corporate life cycle and generic competitive strategy. With an understanding of the dynamic competitive environments it argues the applicability of flexible strategy in the strategic implementation. Based on the analysis of the relationship between flexible strategy, product innovation and core competence this part constructs another conceptual model for explaining the relationship between flexible strategy and the growth for hi-tech enterprises.Based on a reasonable critique on the current model in practice for the sixth chapter proposes a dynamic-growth model for the hi-tech enterprises based on product innovation. In the IHLVI model there are five components which are respectively named as Integrated Innovation, Learning Organization, Human Resources Management, Venture Investment and Incubator. As a result of both stable and dynamic analysis of the five elements in different growth stages this part put forwards some countermeasures safeguarding their sustainable growth.In the seventh chapter this dissertation constructs an index evaluating the performance of product innovation in the growth of hi-tech enterprises from three aspects of product innovation, corporate growth and the impact of product innovation on corporate growth. In each aspect the performance is evaluated by means of input, output and their effect. Applying this index and a method of fuzzy mathematics this dissertation evaluates the performance of product innovation in the growth course for BL Company. Based on the results some proposals are raised for the evaluated company.Partly as the achievement for the research project of Management System of Product Innovation sponsored by Project 211 of Wuhan University of Technology this dissertation may creatively contribute to theoretical research and business practice in three aspects.Firstly it constructs a framework to explain the mechanism of product innovation for the growth of hi-tech enterprises by applying the principles of life system from biological perspective, and a dynamic model for their core competence; Secondly it proposes a dynamic growth model for the hi-tech enterprises growth which is named as IHLVI and sets up a conceptual model demonstrating the relationship between flexible strategy and corporate growth; Lastly this dissertation establishes a set of index to evaluate the growth performance based on product innovation and successfully applies in the evaluation of a hi-tech company named as BL in China.