The Research On The Impact Of New Enterprises Innovativeness On The Performance

The paper is a part of the National Natural Science Foundation project "the new enterprise creation resource-based and research of the early growth mechanism" , and mainly study the impact of new enterprises innovativeness on the performance in China. Innovative theory was first proposed by the famous Austrian economist Joseph Schumpeter in 1912 in his German book "Theory of Economic Development". Since then, the innovation was studied from different angles, and many theories of research appeared.The growing global competition, market subdivision and constantly updated technology forced the enterprises to obtain the source of the wealth through continuous innovation. However, the small and medium-sized enterprises in our country have a problem of the Secure status quo, lack of future commercial planning of enterprises and shortage of innovation attitude, and the innovation of enterprises was restricted by the scale, capital, human resources, and environment conditions. The small and medium-sized enterprises in our country lack of sense of innovation and technology with independent intellectual property rights, and the short product life cycle forces enterprises to convert products continuously, so this brings large conversion costs to the enterprises .The innovation of product becomes more and more rapid with the acceleration of technological progress and the shortening of the product life cycle, therefore the enterprises relying on the existing business to obtain the future cash flow is becoming increasingly uncertain. The paper hopes to by studying the impact of new enterprises innovativeness to the enterprises performance in the situations in China suggest that if the enterprises wants to obtain competitive advantage continuously ,they must be more innovative capabilities than competitor, transform operating mechanism of the enterprises through innovation ,improve the company's core competitiveness, so the paper provides a certain amount of practical guiding significance to enhance the performance of the enterprises effectively.The paper firstly summarizes the relevant research literature at home and abroad systemically, and masters the relevant research theory and practice results which have been obtained; The paper finds the features of the evolution of innovativeness in entrepreneurial orientation dimension by summarizing the literature. The wording is not the same on the innovativeness scale and innovative concepts. Khandwalla (1977) is the first who brought forward business-oriented, and his innovative term is "innovation", which is a verb, the scholars of this era are the emphasis on observation of the behavior of innovation and use the "product innovation" in scale. At that moment, the scholars considered the relationship between innovation and performance, that is, the relationship between behavior and results. Dess point out that the innovation was an attitude until 1996, and its wording was changed to "innovativeness", then the subsequent scholars have used the terminology. At that time the scholars began to consider the relationship between attitude and results. And we all know that the attitude impact behavior, behavior would impact the results. This is similar to the incentive process in organizational behavior.Then the paper brings forward research ideas attitude - behavior - performance in accordance with the incentive process in organizational behavior, namely: motivation - behavior– target. As a result of inconvenience of measurement and analysis to the behavior, this paper considers mainly the relationship between attitude and performance. And the main line of the impact of attitude on the performance can use the thought of real options to consider completely, Whether the implementation of a project depends on the attitude firstly, followed by the normal implementation and have a performance, And a project of the investment process is very similar to call option. Therefore this paper attempts to analyze this thought of attitude - behavior– performance by using the thought of real options.It is situational that Dess (1996) put forward the relationship between innovativeness and performance earliest, the scholars have found that the relationship between entrepreneurial orientation and performance is a complex process. When this paper analysis the relationship between innovativeness and performance using the idea of real options, it finds that adequacy of resources and the dynamic environment has the adjustment between them, so the three assumptions were made in this paper:1) The innovativeness has a positive impact on the performance of the enterprises.2) The resource regulates the relationship between the innovativeness and the enterprise performance. In other words: when resources are appropriate, the innovativeness has a greater impact on enterprise performance (high relevance); and when there are too much resources (or too little), the innovativeness has a smaller impact enterprise performance (low relevance).3) Environmental dynamics has a positive regulatory role to the innovativeness and enterprise performance. Namely: the smaller the dynamic of the market environment, the smaller the innovativeness impact on enterprise performance; the greater the dynamic of the market environment, the greater the innovativeness impact on enterprise performance.For the corporation performance in the analysis of real options, this paper uses the expansion of NPV on behalf of the corporation performance rather than using the traditional NPV. Since the reality of the environment has the uncertainty as well as competition with each other, the realization of cash flow managers will be inconsistent with the initial anticipation of the managers. With the coming of new information and the gradual digestion about the uncertainty of the future cash flow, managers may find that the project has given him all kinds of flexibility, so that it can offset or correct his anticipated business strategy in the first. The expansion of NPV reflects the flexibility of management, and the traditional NPV method ignores the revision of the managers and the ability of correcting follow-up decision, that is to say, the traditional NPV has the part of the value of the option premium more than the expansion of NPV. Firstly, the paper summarizes the three theories from the literature. Secondly, analyzes and verifies the theory by using the idea of real options. Then, according to previous theory study, uses some classic Scale to the variables previous studied; for any questions which have been not researched by our predecessors, we design some indicators ourselves through referring literature and according the understanding to the relevant concept. The returned questionnaires which have a large number of omissions and gaps, and were filled not carefully are removed, and finally received 150 valid questionnaires. Data is processed by using the SPSS software package, then verify the theoretical assumptions of the paper through data analysis of the survey questionnaire. Through data validation, the paper finds that the innovativeness have a positive impact on the performance of enterprises indeed.