A Case Study Of Alibaba Group: Executive Incentive And Constraint Mechanism Based On Meaning Construction Theory

Under the modern enterprise principal-agent system,the incentive and restraint mechanism of senior management personnel is more complicated.Because the development characteristics and strategic objectives of the company at different stages of its life cycle have different impacts on the needs of managers,it is impossible to continuously encourage executive behavior from the aspect of compensation,in order to promote the behavior of senior executives in different stages according to environmental changes.And reduce the losses that executives may suffer from moral hazard and adverse selection.Enterprises need to adopt different incentive and restraint mechanisms at different stages of development,and adopt targeted incentives and constraints on senior management dynamics according to the needs of enterprise development.The incentive and binding utility is maximized.Therefore,this paper takes Alibaba Group as the research object,and divides Alibaba Group from 1999 to present into four stages: initial stage,growth stage,high-speed growth stage and maturity stage,respectively describing the executive incentive and restraint mechanism in each stage,and From the perspective of meaning construction,this paper analyzes the meaning construction and meaning of enterprise executives' incentive and restraint mechanism.Based on the different characteristics of meaning construction,the significance construction mode of Alibaba's four development stages mainly involves minimal meaning construction and acceptance.The meaning of the limit is constructed and directed to the clear meaning of the construction of three types.Finally,according to the analysis of the case,the matching hypothesis between the non-material incentive mechanism and the high-activity meaning construction model,the constraint mechanism and the high-control meaning construction model,and the triggering factors,meanings,direction,activity and control are proposed.The influence of three factors in the formation of the executive incentive and restraint mechanism.The research in this paper suggests that enterprises need to pay attention to the meaning construction process in the process of constructing the executive incentive and restraint mechanism,and be good at using the different needs of senior executives to formulate relevant incentive and restraint mechanisms.In addition,this paper also provides a new analytical perspective for the related topics of the executive incentive and restraint mechanism.