Research On The Relationship Of Product Market Competition, Entreprenuerial Capital And Strategic Change

With the deepening of economic globalization,Chinese enterprises have embeded more and more deep in the global industrial chain,facing the increasingly fierce market competition.Changing strategy at the right moment has become an important method for the enterprises to maintain competitive advantage and keep sustainable development.Among them,the fierce market competition of the industry and the market competition position of enterprise in the industry are often the important decision-making basis for enterprises to change strstegy.In addition,faced with the same external competitive pressure,different enterprises have different choices,which is because the enterprise itself is heterogeneous.Strategic decision responsing the competition of the enterprise depends on evaluation,obtain and make use of internal and external resource of enterprises.The entrepreneur as one who makes strategy,is the key to the evaluation,obtain and make use of strategic resources,therefore the internal entrepreneurs capital as the endowment condition of acquiring and using resources interacts with external product market competition,influencing the generation of strategic change.Based on the above analysis,this study built a theoretical model of the relationship of product market competition and strategic change,and introduced the entrepreneur capital as a moderating factor,putting forward relevant proposition on the basis of literature research.This research adopts manufacturing enterprise data of A stock market to do the large sample empirical study,and use correlation analysis,regression analysis and other statistical analysis method to explore and validate the mechanism of product market competition affecting enterprise strategic change,moderated by entrepreneur capital.The following results are obtained:(1)The competitive position of enterprise market has positive influence on strategic variation and strategic deviation.(2)Industry market concentration has a negative impact on strategic deviation.(3)The average degree of the entrepreneur has a positive regulating effect on the relationship between the competitive position of the enterprise and the strategic variation.(4)The technical background and commercial social capital of entrepreneur play a negative role in the relationship between the competitive position of the enterprise market and the strategic variation.(5)The average age,the financial professional background and the government social capital of the entrepreneur play a positive regulating role in the relationship between the competitive position of the enterprise market and the strategic deviation.(6)The technical background of entrepreneur plays a negative role in the relationship between market competition status and strategic deviation.This research makes some innovation on the basis of predecessors' research.In this paper,the product market competition is divided into two dimensions of wholely competitive condition of industry and competitive position of enterprise,clearing that though external cause is the direct cause of enterprise strategic change,relative to the overall external competition characteristics,the uniqueness competitive characteristics facing by individual enterprise is the root of the strategic change.At the same time,this study tested the relationship of product market competition and the strategic change in various dimensionon the basis of segment dimensions,deepening the study of predecessors.In addition,this paper introduced the moderating variable entrepreneur capital,which interact with product market competition,empirically testing the moderating effect of the influence of various dimensions of entrepreneurship capital competition on the different dimensions of product market competition to different dimensions of strategic change,providing a certain explanation perspective to the inconsistent results of predecessors' research.The research results not only contribute to the improvement of relevant theories,but also provide useful guidance for the practice of corporate strategy change in China.