The Study Of The Developing Path Of The Domestic Coal Enterprise In The Period Of Deep Change Of Industry

Coal is our country’s primary energy, coal industry plays a decisive role to the healthy development of national economy. Since 2012, China’s economy enters the New Normal, and the situation of international economic downturn continues, coal supply exceeds demand, price plunge, the coal industry also entered a period of deep change. based on the analyze of coal market and coal enterprise, Paper aims to explore the development path of coal enterprises in depth adjustment, in order to improve the benefits of coal enterprises.Thesis first reviewed the content of the former research of coal enterprise, summarized five typical development paths of coal enterprises, including intensional administration, mergers and reorganization, diversified development, circular economy, and exiting the market. Second, reviewed the development history of China’s coal market, and analyzed the characteristics of the period of deep change of industry. The study found that government policy guidance strongly influenced the development of coal industry and the market control was continue until 1992, result in a weak competitive spirit. Third, based on the analyze of present situation of coal market and using the theory of market structure of S- C- P paradigm analysis of coal market, the paper found that coal market in China is characterized by low market concentration, little alternation in products, low barriers to entry to high, high barriers to exit, leading to the phenomenon of excessive competition. To improve the coal market performance, paper argues that government need to encourage enterprise to merger and regroup, improve market concentration; Push the zombie companies exit the market and encourage enterprises to make diversification development. Fourth, using the life cycle theory to analysis coal enterprises’ main characteristics in different stages, and points out the main missions. In the period of deep change of coal industry, the enterprise in different stages should make different choices. For example, enterprises in incubation period can suspend construction, following the relevant national policies. Enterprises at growth stage and mature period need to intensive development path, based on its main business, strengthening cost management, attaches great importance to the market orientation, some enterprises can strengthen the cultivation of diversified economy. Enterprises at degenerating stage need to exit the market, looking for complete industrial transformation, or seeking mergers and reorganization, shunt employees, gradual exiting the market. Finally, the thesis chose four coal enterprise to make a case study, studied the implementation effect of development path of their choice and the existing problems.