Empirical Research On The Relationship Between Business Model Innovation And Enterprise's Performance

Business model innovation has become one of the important sources of competitive advantage for enterprises.At present,the market environment is changing rapidly,and information technology is changing the nature and structure of enterprise competition.In the competition pattern of enterprises under the background of network economy,only relying on technological innovation can not meet the needs of enterprise development.In recent years,a large number of successful practices show that business model innovation is also an indispensable factor to promote the sustainable development of enterprises.The innovation of business model is playing an important role in the competition among enterprises.In recent years,there have been many successful enterprises using business model innovation.Through business model innovation,the enterprise has expanded the existing industrial territory,developed a new blue ocean market,and brought rich commercial returns to the enterprise.Scholars have rich research contents on business model innovation.First of all,they focus on the research between business model innovation and enterprise value creation.They believe that determining the structure of new business and business model innovation can create value for enterprises,and business model innovation can effectively explain the differences of enterprise performance;Secondly,the research of business model innovation extends to its classification research,that is,the impact of different types of business model innovation on performance is also different;Finally,in the existing research,we found that business model innovation has made some progress in the exploration of intermediary variables between performance.However,the research is rather scattered,and some of the mediating variables used are also relatively old,resulting in the lack of interpretation of its mediating role.Therefore,this study will further analyze the empirical impact of business model innovation on corporate performance,and analyze and test the relationship between business model innovation(efficiency business model innovation and novel business model innovation),market orientation(reactive market orientation and proactive market orientation)and corporate performance(long-term market performance and short-term financial performance)from multiple dimensions On relationship,at the same time test the regulatory effect of institutional environment.In particular,this study also discusses and tests the intermediary mechanism between the two types of market orientation in different types of business model innovation and enterprise performance,in order to deepen the understanding of business model innovation theory.Specifically,this paper analyzes from the following aspects:(1)Whether the innovation of business model can improve the long-term marke market and the short-term financial performance of enterprises;(2)Whether market-oriented plays an intermediary effect between business model innovation and enterprise performance,that is,business model innovation communicates value to customers and confirms enterprise performance through market-oriented intermediary;(3)Does the degree of institutional environment affect the relationship between business model innovation and corporate performance?Around these problems,this paper not only theoretically discusses the research topic,but also makes a detailed analysis of the collected data through the large sample empirical method,questionnaire survey was conducted by large sample data,draw a valuable empirical results:(1)According to the results of the long-term market performance of the enterprise,we can see that(efficiency type and novel type)business model innovation has played a positive role in promoting performance.Reactive market orientation and proactive market orientation play a positive intermediary effect between the innovation of efficient business model and the long-term market performance of enterprises,that is to say,the innovation of efficient business model can improve the long-term market performance by judging the needs of existing customers through reactive market orientation.The innovation of efficient business model can improve the long-term market performance by predicting the potential demand of customers through the first mover market orientation.First mover market orientation plays a positive intermediary effect between innovation of new business model and long-term market performance of enterprises,while reactive market orientation plays a negative intermediary effect between innovation of new business model and long-term performance of enterprises.(2)From the results of short-term financial performance,the efficiency business model innovation has a significant positive effect on improving the short-term financial performance of enterprises,while the new business model innovation has a negative effect on the short-term financial performance of enterprises.After adding intermediary variables,reactive market orientation has a positive intermediary effect between efficiency business model innovation and short-term financial performance,while proactive market orientation has no intermediary effect between efficiency business model innovation and short-term financial performance.Market orientation(reactive and proactive)has a negative intermediary effect between innovative business model innovation and short-term financial performance.(3)Under the condition of imperfect system environment,efficiency business model innovation is more effective.Institutional environment can enhance the effect of innovative business model innovation on long-term market performance,but it has no directional effect on the relationship between innovative business model innovation and short-term financial performance.To sum up,this research has some new insights and ideas in the analysis of business model innovation and the relationship between enterprise performance.First of all,this study further analyzes the path of Business Model Innovation acting on enterprise performance through market orientation;secondly,in view of the characteristics of China's transformation environment,this study analyzes and verifies whether the institutional environment can regulate the relationship between various types of business model(efficiency type and novel type)change and enterprise performance.This paper also enriches the significance of institutional environment as a regulating variable.Although some innovative achievements have been made in this paper,there are still many limitations and deficiencies in the research.In terms of the depth of literature search,the breadth of data collection and the subjectivity of questionnaire survey,the accuracy of the results and the practicability of the research results will be affected,which needs to be further improved.