Study On Development Strategy Of Coal Enterprises Based On Industry Life Cycle Theory

Since the second half of 2012,due to the excessive capacity,increasing environmental protection pressure and so on,the coal market has remained continually sluggish,and coal industry and coal enterprises suffered unprecedented impacts.Therefore,it will have an urgent and a far-reaching significance to deeply study the future strategy direction of Yankuang Group as a large-scale coal enterprise group in China.Based on the industry life cycle theory,China's coal industry has entered its mature period.With SWOT analysis,focusing on the internal strengths and weaknesses and the external opportunities and challenges of Yankuang Group in the new normal of China's coal industry,the strategy direction and emphases are put forward for the innovative development and transformation and upgrading of Yankuang Group are as follows:(i)to continue to implement internationalization strategy,emphasizing to develop and utilize the resources in undeveloped countries;(ii)to continue to implement diversification strategy,emphasizing to upgrade the capital operation for the integration between property and finance;(iii)to implement the strategy of sustainable development,emphasizing to the promotion and utilization of clean coal technology;(iv)to intensify cost leadership strategy,emphasizing to institutional restructuring and market management mechanism.In order to make sure the adequate implementation of these strategic emphases,the paper proposes the seven supporting measures,(i)to take advantage of the platform of state-owned capital investment company;(ii)to practice the marketing and contracting management modes;(iii)to introduce the talents for the relevant business;(iv)to continue the technical innovation;(v)to enhance the level of informatisation;(vi)to upgrade the enterprise culture;(vii)to strength the safety management.The abovementioned strategic emphases and supporting measures will provide positive references to other large-scale traditional energy companies in making the strategies suitable for their own development and for the social development.