The Effect Of Entrepreneurial Strategic Capabilities On Growing Smes In Transitional Economy

Entrepreneurial capabilities are one of the most important determinants of the SMEs' competitiveness. The core capabilities of SMEs are the experience, knowledge and skills of owners or workers. Growing SMEs are outstanding and excellent group of SMEs. So it is a typical research to analyze the mechanisms of entrepreneurial capabilities that put the growing SMEs as research objects.The research on entrepreneurial capabilities and enterprises' growing mechanisms can not be divorced from the external environment. While China is a country in transitional economy, which is being that economic structure transforms from planned economy to market economy and the stages of economic development transforms from traditional to modern. Transitional economy calls for loosening of government economic control for agents of production, and so released market opportunities and increased the uncertainty of competitive environment. It requires companies to strengthen the strategic management and change growth strategy. This put forward higher requirements for entrepreneurial strategic capabilities. So this paper analyzes the process of growth that entrepreneurial strategic capabilities effect on SMEs.Based on this analysis, this paper takes the growing SMEs in Zhejiang as the analyzed object to explore the effect mechanism of entrepreneurial strategic capabilities on company performance and focus on analyzing the moderated effect of transitional economic environment on the relationship between entrepreneurial strategic capabilities and company performance. In order to verify the relationship between entrepreneurial strategic capabilities and company performance and the moderated effect of transitional economic environment .This paper firstly analyzes the characteristic of entrepreneurial strategic capabilities and growing SMEs in theory. After theoretical analysis, this article adopts both qualitative and quantitative study methods to authenticate hypothesis. At the qualitative study stage, this paper adopts semi-structured interview with firms' general managers and board chairman to collect firsthand information, and takes written case analysis to collect secondhand information. Based on the classification of this primary data, this article discovered three factors and twenty-one measured items of entrepreneurial strategic capabilities. At last formal questionnaire has formed through exploratory questionnaire analysis. At the quantitative study stage, this text sends questionnaires to both growing SMEs and general SMEs, and recovers 111 valid questionnaires randomly. Through the methods of independent sample T test, ANOVA, OLS and moderated regression analysis etc. to test all data, this paper find that:1,Entrepreneurial strategic capabilities are positively related to the performance of growing SMEs, entrepreneurial strategic capabilities are the key variables to explain the performance of growing SMEs.2,Entrepreneurial strategic capabilities are composed of three factors, namely entrepreneurial strategic planning capabilities,strategic implementation capabilities,strategic changing capabilities, all of the three factors can promote the performance of growing SMEs significantly,in which strategic planning capabilities of entrepreneur are more stable.3,The dynamicity,heterogeneity and hostility of environment will moderate the relationship between entrepreneurial strategic capabilities and the performance of growing SMEs.