Research On Strategic Risk Decision-making Of Enterprise Continuous Innovation Process

Innovation is the primary force guiding development.General Secretary Xi said that innovation is the life of reform and opening up at the celebration of the 40 th anniversary of reform and opening up which profoundly demonstrated the outmost importance of innovation for reform and opening up.As the soul of a nation's progress and an endless impetus for its prosperity,innovation is of great concern for a country and a nation.Being a vital carrier of national innovation,the enterprise sustained innovation determines the future of our country.However,the enterprise sustained innovation progress is not smooth but full of risks in which strategic risk is the most serious one.Currently,the study of strategic risks in the process of enterprise sustained innovation is not systematic and thorough enough.Given consideration of the real practice and the theory reality about enterprise sustained innovation process strategic risk management to the enterprise sustained innovation,it is necessary to study the strategic risk decision of the continuous innovation process.In this study,the following problems will be solved by studying the strategy risk decision in the sustained innovation process of enterprises according to the ideas of raising,analyzing and solving problems.Firstly,defining and analyzing the formation mechanism of the definition,category,features of strategic risk in the process of enterprise sustained innovation.Secondly,analyzing the critical factor of the strategic risk decision-making in the enterprise sustained innovation process.Thirdly,advancing counterplots for the strategic risk decision-making in the enterprise sustained innovation process.Fourthly,this article building a strategic risk decision-making mechanism for the enterprise sustained innovation process.In the first place,the concept,category,feature,formation mechanism and components of strategic risk in the process of sustained innovation were analyzed via literature and system means in this study,and the key factors analysis model,strategic risk decision-making model and strategic risk decision-making mechanism model of the process of continuous innovation were constructed theoretically.In the second place,this study makes an empirical analysis of the crucial factors ofstrategic risk decision-making in the process of sustained innovation.The key influencing factors of strategic risk in enterprise continuous innovation process are analyzed by means of questionnaire,factor analysis and multiple regression method.It turns out that policy,legal environmental risk,industry market environmental risk from strategic environmental risk dimension and strategic risk consequences are positively correlated which has passed the significant test;The human resource risk,capital resource risk,technology resource risk from strategic resource dimension and strategic risk consequence are positively correlated which has passed the significant test;The major innovation project decision-making risk,resource transformation ability risk from the risk dimensions of major innovation project and strategic risk consequences are positively correlated which has passed the significant test;the operator's moral risk,the operator's knowledge experience risk from the operator human factor risk dimension and the strategic risk consequence are positively related which has passed the significant test;The innovation deficiency risk in the dimension of innovation ability risk is positively correlated with the consequences of strategic risk which has passed the significant test.Socio-cultural environmental risks,management risks of innovative projects,operator health risks,clear risks of innovation goals,inaccurate innovation positioning risks and the consequences of strategic risks are not significantly related.Removing the non-significant indicators,this study identified five key factors for strategic risk decision-making at the first level and 11 key factors for strategic risk decision-making at the second level.In the third place,on the basis of constructing the key factor system of strategic risk decision in enterprise sustained innovation process,this paper constructs the strategic risk-decision model of enterprise continuous innovation process based on DEMATEL-ANP extension element method,and verifies the model with the example of Yunnan Baiyao Group.The results show that Yunnan Baiyao Group is facing strategic risks from seven aspects:policy and legal environment,industry market environment,human resource,capital resource,operator knowledge and experience,low innovation efficiency and resource transformation ability.According to the result of the strategic risk decision,corresponding decision plans are put forward for different levels of risk.The strategic risk self-retention response plan is proposed according to the factors of low and lower levels of strategic risk;the strategic risktransfer scheme is proposed for the medium level of strategic risk;and the decision program of strategic risk control is advanced for high and higher risk level.Last but not the least,Building enterprise strategic risk decision-making mechanism sustained innovation process.Based on the analysis of strategic risk decision-making in the process of enterprise continuous innovation,this study constructs the strategic risk decision-making mechanism of enterprise continuous innovation process from six aspects,including the opportunity management mechanism of strategic environmental risk,the selection and appointment of operators,the training and incentive mechanism,the organizational structure and personnel arrangement of strategic risk decision-making,the management mechanism of major innovation projects,the strategic risk early warning mechanism and the strategic risk emergency plan mechanism,providing strategies and mechanisms for enterprises to reduce and deal with the strategic risk in the process of continuous innovation.This research is mainly of the following contributions and innovation points:First,the research perspective is unique.At present,most studies on the risk of enterprise sustained innovation process are conducted from the perspective of general risk and major risk,while this one studies from the aspect of strategic risk management,with a unique perspective.In the other place,the research results are more objective and scientific.This study integrated a variety of empirical analysis method to study the process of sustained innovation to the enterprise strategic risk decision-making.Most of the studies constructed the strategic risk index system theoretically.This study adopted the quantitative analysis method to construct the strategic risk key factor index system through which the research results were more scientific and objective than ever before.In addition,DEMATEL-ANP method is used in this study to determine the index weight of strategic risk decision-making in the process of enterprise sustained innovation,which is more accurate than the previous methods such as analytic hierarchy process,entropy weight method and gray analysis method.Secondly,researching on strategic risk decision of enterprise sustained innovation process is systematic and comprehensive.Basing on the analysis of previous studies,this study defines and analyzes the formation mechanism,categories,definitions and features ofstrategic risks in the process of enterprise continuous innovation.What's more,previous studies mainly focused on a certain part of risk management,but this one systematically constructed the strategic risk critical factor analysis model of enterprise continuous innovation process,strategic risk decision-making model of enterprise continuous innovation process and strategic risk countermeasures mechanism of enterprise sustained innovation process,thus a relatively complete strategic risk decision-making process has been formed,which is more comprehensive and detailed than previous studies.Third,this research provides decision-making method and mechanism to reduce the strategic risk of enterprise sustained innovation.Former studies paid more attention to the analysis of risk response other than constructing the risk decision-making mechanism.Alternatively,the mechanism was constructed in an all-round way.On the basis of in-depth analysis of strategic risk decision-making in enterprises' sustained innovation process,this study constructs a perfect strategic risk decision-making mechanism from the perspectives of strategic environmental risk management mechanism,operator management mechanism,strategic risk decision-making organizational structure and personnel arrangement,major innovation project management mechanism,strategic risk early-warning mechanism and risk emergency plan processing,which brought risk management into normalization and institutionalization to supply enterprise sustained innovation process strategic risk management with theoretical guidance and practical references as well as provide references for government departments to formulate relevant policies.