| Power industry is one of the fundamental industries in national economy and social development and is in relation to the national economy and the people's livelihood. Since the policy of reform and opening-up, the level of China's power industry development has been rising, particularly in the overall power structure and technology equipment. Especially in the "11th five-year plan" period, the rapid development of China's power industry had basically met the needs of the national economic and social development, and the Generator capacity has run second in the world. The large units, such as big power grid, and ultra, automation, informatization, hydropower and thermal power generating new energy, nuclear have entered a new period, however, in the year of 2008, frequent natural disasters caused by large power grid had caused paralysis and tested the power supply facilities. Meanwhile, China's coal price is in accordance more and more with international coal price, thus increased the cost of the whole thermal power enterprises and led to a total loss of electric power enterprises in China, which will face opportunities and challenges at the same time. This thesis discussed From the Angle of the electric power enterprise strategy, combining the special characteristics of electric power industry, analyzing the possible strategy that can be chosen in the overall strategy of electric power enterprise, The space and mode of investment are affected by irresistible external factors, such as government regulation and microeconomic environment, so this paper just studies probing into growth-type strategy choice for business, and finally made a preliminary conclusion:Firstly, this thesis holds that the electric power enterprise's strategic choice types include stability type strategic and growth-type strategy, the latter one is the important strategic choice for the electric power enterprise. From the content of investment point of view, labor-intensive products can be divided into growth-type strategy, market strategy, strategic labor-intensive vertical integration strategy, transverse and unrelated diversification strategy and diversification strategy. From the space of investment point of view, growth-type strategy can be divided into the regional, national and international strategy, strategic strategy, from the way of doing investment, implementing growth-type strategy mainly includes investment, merge and wholly owned.Secondly, based on listed companies in electric power industries as research samples, using content analysis in each company's annual review, coding, and through empirical analysis, the thesis found that most of the electric power enterprise from the main contents of investment chooses transverse diversified growth strategy, but in recent years, in order to cope with the pressure from the upper coal industry, electric power enterprise will also choose to change to coal industry, implementing vertical integration strategy. When acing state policy of energy conservation and emission reduction, electric power enterprise put more emphasis on implementing the strategy of labor-intensive product, on the one hand, increasing the power structure adjustment and on the other hand, developing hydroelectric, nuclear power, clean energy construction; etc. From the space of investment, since there is the government regulation, apart from the five groups, most of the electric power enterprises mainly choose regional expansion strategy. in addition, due to reasons such as geographical position, some other electric power enterprise selected to cooperate with the surrounding neighbors to implement the expansion strategy, On the way of investment, electric power enterprises mainly rely on holding investment and there are other four kinds of investment, and in this way effectively reduced capital investment, improved the management efficiency of electric power enterprise.Thirdly, this thesis validates different choices based on electric power industry of the listed company strategic choices and the business performance of the relationship. Research results show that:the product strategy, transverse diversification strategy are positively related to the performance of long-term investments in labor-intensive enterprises, and the union of coal and electricity promotes the focus on those companies and will do good to increase the cost-effectiveness in those companies. But on the other hand, Market strategy and the related technology-intensive enterprise diversification strategy are negatively related to the performance, thus this states that the two types of strategic choice are of no service to the enterprises in overall performance. |
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