The Model Of Business Investment Reorientation Based On Strategic Positioning

With the outbreak of the financial market crisis once again, the global economy recession and the economic pattern changed, the existing theory about investment decisions and risk management raised new questions. At present, regardless of the theorists or the practitioners both have recognized that the resources arrangement which for responded to change in business market and competition environment, plays an important role on the enterprise value formation. Stock price stems from enterprise value, the enterprise value derives from corporate strategic positioning, and thus, analysis and guiding the investment decision from the perspective of enterprise value formation is the current important research in the corporate investment decision field.However, current research on investment mainly judged value or assessed objects as enterprise performance and volatility of stock market price. Business investment research most discussed the business model, and strategic management majority are case studies and qualitative research. Therefore, based on the above analysis, this paper proposed that on the view of adjustment as allocation process to study the enterprise value formation, to learn that the factors which cause business reorientation and the relationship between investments reorientation and corporate benefits.This paper analyze the type of industry business and unified classification, then employ the vector space model to measure the business reorientation level, and choose the indictors of factors. This paper chooses wine such a mature and highly competitive industry, and collect data from 2000 to 2009 year, then statistical analysis. The result finally show that, the enterprise arrange their fund’s resource by business growth, the scale of specific assets and financial leverage rate in such industry. Adjustment degree has a positive relationship with business growth and financial leverage, and has a negative correlation with specific assets size. This paper also finds that in such mature industry, the company’s strategy has been relatively mature, industry profits increased slightly, competitive advantage mainly comes from rigid resources elements, so duplication the program and adoption smaller adjustment help to improve business economic benefits and strengthen competitiveness...