Study On The Matching Relation Between Enterprise Dynamic Capabilities And Diversification Strategy

With increasing deeply of the process of economic globalization, knowledge, technology rapid development, enterprises are facing increasingly complex environment. Meanwhile, the emergence of new knowledge, new technologies and new energy causes a lot of burgeoning industry, it provides material and technical conditions for the implementation of diversification strategy. However ,the effect of diversification strategy for enterprise is complex, how to imple diversification strategy effectively is the enterprise′s issue to consider. Dynamic capabilities as a kind of capability of enterprise to adapt to the environment, a special resources of enterprise, plays a important role for the strategic selection and implementation, previous studies have put forward that dynamic capabilities shoud match with the enterprise strategy, so as to provide support for the effective implementation of the strategy . Whether there is a certain matching relation between dynamic capabilities and diversification strategy, if present, what kind of matching form, the study of this problem is significant for theoretical and realistic world.By researching the dynamic capabilities, diversification strategy and matching relation in the related literature, proposing hypotheses that diversification strategy has negative influence on enterprise performance and dynamic capabilities moderate this impact process, based on these,building the relationship theory model of the dynamic capabilities, diversification strategy and enterprise performance. In order to research the matching relation between dynamic capabilities and diversification strategy with performance criterions.Sample of this study comes from the listed company from manufacturing, based on the sample selection principles set, choosing 112 samples from 1353 listed companies from manufacturing in Shenzhen and Shanghai Stock exchange . According to the fixed variable measurement indexes, collecting data of indexes of samples in 2009 from annual report of listed company and RESSET financial research database, conducting data processing with EXCEL. Conducting descriptive statistical analysis of samples and variable, analysis of reliability and validity of data and simple data processing. Using SPSS for multiple regression analysis and tests earlier proposed hypotheses. Regression results show the proposed hypotheses , diversification strategy has a significantly negative influence on performance, dynamic capabilities moderate the relationship between diversification strategy and enterprise performance ,so there is interaction between dynamic capabilities and diversification strategy,there is modulated matching relation between them. On the basis of shis, discussing the specific matching form between dynamic capabilities and diversification strategy, it is concluded that under high dynamic capabilities, diversification strategy has better influence on enterprise performance, matching between high dynamic capabilities and diversification strategy is good for performance,there is matching relation between high dynamic capabilities and diversification strategy. Finally, according to conclusion getting from research process, providing advice for manufacturing enterprise about implementation of diversification strategy.