Dynamic Capabilities Of Enterprise Performance Mechanism And Its Multi-level Impact Of The Elements Of The Empirical Research

How to achieve matching between internal resources and rapidly changing external environments is fundamental research question in the field of strategic management. Based on oorganizational ecology, punctuated evolution, organizational learning, resource-based view, and dynamic capabilities view, we believe that a company has adaptability, which can sense and seize the opportunity in the evolutionary process of Variation-Selection-Retention, competing in mature market through improving existing capability by exploitative innovation, rivalize in new market through creative destruction by exploratory innovation, and recombine and integrate their asset bases and processes to adapt to market and technological changes.In the dissertation, we elaborate the origin of research question and significance of the research. The following part is literature review. We summarize the definition of dynamic capabilities, which is defined as the firm's ability to integrate, build, and reconfigure internal and external competences to improve the operating capabilities and make further contribution to the adaption to the rapidly changing environments. Moreover, we conclude that the relationship between dynamic capabilities and performance, the influencing factor of dynamic capabilities, and application of dynamic capabilities. On the basis, we argue that we should explore the component of dynamic capabilities, performance mechanism of dynamic capabilities, and influencing factors of dynamic capabilities in multi-levels.About research methodology, we employ corrected-Item total correlation, exploratory and confirmative factor analysis to analyze the component of dynamic capabilities. Moreover, we adopt corrected-Item total correlation, exploratory and confirmative factor analysis, analysis of variances, descriptive analysis, correlation analysis, and PLS-based SEM to explore the performance mechanism. Finally, we use corrected-Item total correlation, exploratory and confirmative factor analysis, analysis of variances, descriptive analysis, correlation analysis, and OLS-based regression analysis to analyze the influencing factors of dynamic capabilities in multi-levels. Based on empirical study, we conclude the following results.First, dynamic capabilities are multi-dimension construct, which are divided into four dimensions, namely opportunities sensing capability, integration and reconfiguration capability, organizational flexibility capability, and technological flexibility capability. Second, opportunities sensing capability, integration and reconfiguration capability, and technological flexibility capability have positive effect on exploitative innovation. Organizational and technological flexibility capabilities have positive effect on exploratory innovation. Exploitative innovation and exploratory innovation have positive effect on short-term financial performance and long-term competitive advantage. On the effect, exploitative innovation is better than exploratory innovation.Third, exploitative innovation and exploratory innovation play the mediation effect between dynamic capabilities and performance. Exploitative innovation plays the mediation effect between opportunities sensing capability and short-term financial performance. Exploitative innovation plays the mediation effect between opportunities sensing capability and long-term competitive advantage. Exploitative innovation plays the mediation effect between integration and reconfiguration capability and short-term financial performance. Exploitative innovation plays the mediation effect between integration and reconfiguration capability and long-term competitive advantage. Exploitative innovation plays the mediation effect between technological flexibility capability and short-term financial performance. Exploitative innovation plays the mediation effect between technological flexibility capability and long-term competitive advantage. Exploratory innovation plays the mediation effect between organizational flexibility capability and long-term competitive advantage. Exploratory innovation plays the mediation effect between technological flexibility capability and long-term competitive advantage.Fourth, the balanced effect of exploitative innovation and exploratory innovation has positive effect on long-term competitive advantage. That is to say, a higher level of balance, or a closer match in the relative magnitude of exploitative and exploratory activities, contributes to firm performance through more structured control of performance risk. The failure to achieve a close balance between exploration and exploitation can leave a firm susceptible to either the risk of obsolesce or the risk of failure to appropriate. Conversely, striking a closer balance between the two types of activities enables a firm to avoid or better manage such performance-impairing risks.Fifth, we also verify the influencing factors of dynamic capabilities in multi-levels. Proactiveness and risk-taking in individual level, shared vision and social integration, and contingent rewards system in top management team level, resource stock and strategic alliance in organizational level, market turbulence in external environment have positive effect on dynamic capabilities. Moreover, contingent rewards system in top management team level and resource stock in organizational level substitute with each other. Proactiveness in individual level and resource stock in organizational level complement with each other.Finally, the dissertation summarizes the main conclusions. Contributions, practical and theoretical implications, limitations and future research are presented in the end.