Research On The Evaluation Of Manufacturing Enterprise Sustainable Growth Ability Under The New Normal

Based on the growth current situation and trend of China's manufacturing enterprises, the paper is to analysis the problems of manufacturing enterprises facing in the process of growth; find the causes of the problem. The specific reasons from two aspects, on the one hand, as our country gradually entered the new normal, the external environment of the enterprises has undergone dramatic changes, which external factors will have an impact on the growth of enterprises under the new normal; On the other hand, in the process of manufacturing enterprises changing the mode of growth to adapt to the economy changes in the new normal, which factors determine the degree of enterprises internal ordering. The paper is to find the factors and mechanism that have an influence on the sustainable growth of manufacturing enterprises under the new normal, to establish a systematic analysis framework based on the internal and external factors of enterprises, 438 manufacturing companies listed before 2008 was selected as the research sample. Using the enterprise financial index to evaluate the order degree of enterprise internal, these indicators are mainly from database of CSMAR; in the study of enterprise external environment, the city(Prefecture level or above) where the enterprise is located(prefecture level to the above) was taken as the research object, the environmental data mainly from the ?China city Statistical Yearbook?. Using correlation analysis, mandatory factor analysis and other mainstream statistical measures, in-depth analysis of manufacturing enterprise internal and external growth status based on management entropy and the dissipative structure theory and formula,constructing the comprehensive evaluation system of manufacturing enterprises sustainable growth ability, Thus it can put forward scientific and reasonable countermeasures and suggestions for the sustainable development of manufacturing enterprises. Hope to put forward some scientific and reasonable countermeasures and suggestions for the manufacturing enterprises sustainable growth.The research content is composed of five parts.(1) New normal stage of analysis. Using the world bank statistical data about the various countries growth, Make a comparison between the high income countries such as Japan, South Korea, Singapore, the countries caught in the “Middle Income trap”, such as Brazil, Argentina, Indonesia, Malaysia and our country on the economic structure, industrial structure, employment structure, urban construction and other aspects of the economy in year from 1981 to 2014.(2) The construction of external environmental evaluation index system. Collecting and sorting the external environmental factors that may influence the growth of manufacturing enterprises through literature statistics, make a correlation analysis on the key indicators that reflect enterprises growth status and the external environment factors. Identify the main factors that affect the development of manufacturing enterprises, establish the evaluation index system of external environmental.(3) The construction of internal ordering degree evaluation index system of manufacturing enterprise. Through summarizing the existing literature, combined with the actual situation of the enterprise growth, list the main financial indicators of the enterprise internal ordering degree; identify key indicators that affecting the growth of enterprises by using the mandatory factor analysis. Establish the evaluation index system of enterprise internal ordering degree; this indicator system is consists of four aspects including 16 indicators: growth efficiency, growth potential, growth quality and growth credibility.(4) The evaluation of the manufacturing enterprises sustainable growth ability. The data about 438 manufacturing enterprises of the index in the evaluation system is collected and sorted, calculated manufacturing enterprise internal and external management entropy by using management entropy formula, The Brusselator model is used to translate the internal and external management entropy into evaluation value of the manufacturing enterprise sustainable growth ability.(5) Confirmatory analysis of typical enterprises. 34 listed pharmaceutical and biological companies were selected as the research sample. According to the evaluation index system, the sustainable growth ability value of the sample enterprise is calculated, Make comparative analysis with the ability value and comprehensive ranking of the authority, with the actual situation of the enterprise, to verify the rationality of the index system.The possible innovations of this paper are as follows:(1)Through the comparative analysis of the high income countries which successful adjustment of domestic development strategies in economic transition period, such as Japan, South Korea, Singapore, the state that fall into the “Middle Income Trap” in transition period, such as Indonesia, Malaysia, Brazil, and our country, analysis of the stage characteristics and changes in China's economic development;(2)Analysis of the internal ordering and external environment situation of enterprises using management entropy theory and formula, to study and evaluate the enterprise growth ability from two aspects of enterprise internal ordering and external environment;(3)The dissipation structure theory is applied to the evaluation of enterprise growth, and the critical condition of the dissipative structure is processed, then established the evaluation index system of the enterprises sustainable growth ability, which is consist of the index that reflecting the internal and external growth ability of the enterprise.