Property Rights, Core Competence Of The Firm And Management Theory

In this paper, from the perspective of the global value chain and knowledge elements, regarding the firm core competence in the view of property rights as internal links, It has tried to study the evolution rules of the enterprise's core competence and property rights in the process of market competition and made connection between the internal cause changes of the property rights and external management theory of the firm and built up the symbiotic evolutionary network relationships among the property rights, core competence of the firm and related management theory in the base of the firm analytical framework GHM model which was proposed by Gross-Hart (1986), Hart-Moore (1990) and Hart (1995).Specifically speaking, the evolution of the firm core competence is from investment knowledge of the entrepreneurial firm owned by the owner of capital to production and investment knowledge of joint-stock firm owned by both shareholders, mainly capital owners and managers; from marketing and production and investment knowledge of managerial firm jointly owned by managers, shareholders and other knowledge owners to the knowledge management itself which include R&D team and marketing and production and investment knowledge of post-managerial in the style of knowledge firms owned by managers, mainly the managers owning the knowledge of production, shareholders and other knowledge owners. With the form development of the firm, the related management theory is mainly from investment to production and investment, from marketing and production and investment to R&D and marketing and production and investment knowledge management. So it has formed an improved symbiotic evolutionary network model of the three in the market competition and made use of a case to describe the evolution unity of the individual and overall changes.The significance of the topics: management theory and economics were separated after the Hawthorne tests and are still two different subjects. The symbiotic evolutionary analysis of the property rights theory, the core competence and management theory re-establish nature and internal links between management theory and firm economic theory, this is an important theoretical significance of this article. Symbiotic evolution analysis of the three also proves that in the face of market challenges, enterprises not only have to deal with problems in the management area but also have to change in the field of governance structure or to say property rights at the same time. In other words, when any firm try to make a major adjustment in business model, they have to consider whether the structure of property rights should be changed, the same token, any firm try to make a major adjustment in the property structure, it is necessary to adjust accordingly to appropriate mode of management .Because it has proved that the structure of firm property rights and management model in the market should match each other. This is the practical value of this article.