Research On Business Model Innovation And Value Creation Of Traditional Enterprises Based On Value Chain Reconstruction

At present many of the traditional enterprise of our country is under the situation of the insufficient consumer demand of products and services,at the same time facing with homogeneous competition in the same industry enterprise,to bring great hardwork of the survival of traditional enterprise.Traditional enterprises need to change from scale expansion stage to "demand-value creation" stage,and business model innovation and value creation become the key to determine the fate of enterprises.From previous studies have found that the ultimate goal of business model is to create value,which are heavily dependent on the value chain to achivement,therefore,this paper’s studies on the role and effect of the traditional value chain restructuring,business model innovation on enterprise value creation,has important practical significance for he traditional Chinese enterprise facing serious resources and environment restriction to look forward to realize the transformation of economic growth mode.This paper builds a research framework from three aspects of hypothesis:first,there are three kinds of traditional enterprise’s value chain reconstruction:optimization of enterprise value chain activities,longitudinal extension to industry value chain,and industrial value chain horizontal extension;Second,value chain reconstruction has a positive role in promoting business model innovation of the traditional enterprises,that is to say,refactoring to traditional enterprise value chain is to help customers mode innovation,transaction model and profit model innovation;Third,the business model innovation of traditional enterprise has a positive role in promoting enterprise value creation,namely customer mode innovation,transaction model,profit model innovation of the traditional enterprise has a positive promoting effect on the enterprise value creation.This paper constructs a structure equation model on the causal to the traditional value chain restructuring,business model innovation and enterprise value creation,to do empirical analysis to explore the path and the effect of the causal relationship between in the value chain restructuring,business model innovation and enterprise create value as the sample of about 230 listed companies of traditional companies,involved in six of the industry.The empirical analysis results show the phenomenon that exists in traditional enterprise value creation in China,there are mainly two things:one is horizontal value chain extension of the role of business model innovation and value creation is not obvious,the second is the longitudinal extension of value chain and value chain optimization has a role of business model innovation and value creation,but the role and effect of the vertical value chain extension is stronger.The research of this paper reveals some problems.Firstly,at present,the promotion effect of value created by traditional enterprises to push forward the vertical extension of value chain is more significant.That is to say,the value chain should be promoted vertically,to implement manufacture services,and services manufacture,and to integrate supply chains.From the upstream of the industrial value chain to the downstream is likely the combination of manufacturing and service.Secondly,the vertical extension of the value chain of Chinese traditional enterprises will greatly influence the innovation of operation mode.However,traditional enterprise value chain reconstruction is not equal to value creation,and value chain reconstruction is a necessary condition for value creation rather than sufficient condition.Value chain reconstruction should be combined with efficiency and synergy.Thirdly,the various implementation modes of value chain activity optimization also play a significant role in the business model innovation and value creation.the Value activities of traditional enterprises,including of optimize their value chain positioning,reduce operating costs,attach importance to technological innovation and brand building,are the power source of value creation.Lastly,the traditional enterprise development is often based on economies of scale and scope economy as the guidance,and the now and future direction is to the value and market orientation.Chinese traditional enterprises should abandon the development strategy by fostering the whole industry chain to obtain "done-study" effect,turn to expand the market with value creation ability firstly,just can effectively improve the ability of value creation based on the technology innovation.