The Study On The Path Of Enterprise Value Creation Under Strategic Transformation

With the continuous development of technology and constant change of the economic environment,more and more enterprises are beginning to pay attention to strategic transformation to seek their own survival platform and growth space.However,whether strategic transformation can definitely help enterprises develop and find an effective way to create enterprise value has not reached a consistent conclusion,which makes enterprises vacillate in the face of whether to carry out strategic transformation.Therefore,by studying the path of enterprise value creation under strategic transformation,this paper can not only help enterprises under strategic transformation to find the path of creating enterprise value,but also provide the reference for enterprises to implement strategic transformation,which is far-reaching significance.This paper takes Jiangsu Phoenix Publishing Media limited liability company(“Phoenix Media” for short)as the object of study and adopts the method of single case study.Through analysis of the enterprise value creation process in the three stages of Phoenix Media's strategic transformation and the result of strategic transformation,the paper explores how the case enterprise creates enterprise value under the strategic transformation.The study question is divided into three parts.Firstly,the paper analyzes the situation of enterprise value creation under the strategic transformation of phoenix media through the financial evaluation and non-financial evaluation of enterprise value.Secondly,combining with the results of enterprise value evaluation,the paper analyzes the deep reasons for phoenix media's strategic transformation to promote enterprise value creation.Thirdly the paper explores the process mechanism of enterprise value creation under strategic transformation from the perspective of dynamic capability theory.This paper draws the following conclusions through study:First of all,This paper finds that the indicators in the strategic transformation period show an overall upward trend through the evaluation of phoenix media enterprise value,and the implementation of strategic transformation promotes the creation of enterprise value.Therefore,the strategic transformation of phoenix media is successful.Secondly,through the analysis of the reasons for the strategic transformation of Phoenix Media to promote enterprise value creation,the paper finds that Phoenix Media has achieved the goal of strategic transformation by using digital technology and optimizing the cultural industry chain.Thus Phoenix Media can create enterprise value.Finally,the paper finds the dynamic evolution path of enterprise value creation under strategic transformation from the perspective of dynamic capability theory.On the basis of exploring the external phenomenon of how the enterprise creating enterprise value under strategic transformation,this paper analyzes the internal capability of the enterprise's strategic transformation and finds that the dynamic evolution of dynamic capability in the three stages of strategic transformation promotes enterprise value creation.,The internal dynamic capability of an enterprise is divided into two dimensions,that is the ability of resource optimization to overcome organizational inertia from the internal approach and the ability of organizational learning to absorb dynamic knowledge from the external approach.The dynamic capability of the two dimensions is evolved in different stages of the strategic transformation of the enterprise,enabling the enterprise to deeply integrate the new knowledge of digital technology and the action strategy of optimizing the cultural industry chain into the enterprise.So the products and services of the enterprise can be upgraded and the market can be continuously expanded.Ultimately the enterprise achieves the purpose of creating enterprise value.Through the study on the path of enterprise value creation under the strategic transformation of Phoenix Media,this paper opens the black box of the enterprise value creation path under the strategic transformation from the perspective of dynamic capability theory,which not only has a certain positive significance for promoting the development of strategic transformation of enterprises,but also it provides some reference for the strategic transformation of media publishing companies.