Research On The Influence Of Entrepreneurs' Social Capital On Newly-Built Businesses' Performance

In recent years,under the promotion of the concept of "network networking" and " mass entrepreneurship and innovation" policy,the enthusiasm of our people to develop the entrepreneurial activities is high and rapid,and a new round of innovation and entrepreneurship is leading the development of Chinese economy into a new normal state.The entrepreneurial enterprises have made important contributions to job creation,innovation,technology development and the promotion of the economy.Behind the high level of entrepreneurial enthusiasm,however,the problems of low performance and low success rate are hidden,and high risk and high failure rate have become a major challenge for the enterprises.Therefore,it is of great significance to study how the new enterprise can span the valley of death and step into the mature stage from initial stage successfully to achieve the stable operation and growth.Many studies have found that the resource and resource integration ability of the enterprise is the basis of the development of the enterprise,and the poor resource and the poor ability are one of the reasons for the high failure rate.As an important social relation resource,the social capital is also an important factor to influence the survival and development of the enterprise.It is also suggested that the strategic choice of the initial stage is one of the key factors that determine the success of the new enterprise.So far,although some scholars have studied the relationship between the social capital,the strategic choice and the enterprise performance,many management studies focus on mature enterprises and there is no special research on new enterprise.This ignores the difference in the life cycle of the enterprise,and the management conclusion of the mature enterprise often lacks sufficient explanatory power when applied to the new enterprise.Moreover,the strategic choice is divided into traditional competitive strategic types,and some scholars have also proposed that the competition strategy type of Porter is not completely applicable to the new enterprise.Therefore,this paper breaks through the existing research and focus on new enterprise to explores the influence of the entrepreneurs' social capital on the enterprise performance.We based on the entrepreneurship strategy theory proposed by the scholar Park which is different from the traditional classification of competitive strategies,constructs a new strategic classification to study the intermediary role of the strategic choices,in order to enrich the existing research theories and provide guidance for the new enterprises.This paper is mainly divided into the following parts: Firstly,the relevant literature is analyzed and studied,and then the hypothesis and the theory model are derived on the basis of the relevant theories,and the empirical research is carried out by using the statistical analysis software of SPSS 22.0.This paper verifies the relationship between entrepreneurs' social capital of new enterprise and the enterprise performance and the intermediary role of strategic choice of enterprises,reveals the internal mechanism of the impact of entrepreneurs' social capital on the performance of enterprise.Finally,draws a conclusion according to the empirical results and give the suggestion of enterprise management.The results of this paper are as follows:(1)The entrepreneurs' social capital can help to improve the enterprise performance;(2)The institutional social capital of the entrepreneur can promote the enterprise performance through the intermediary function of the science & technology capability-oriented strategy,and the marketability social capital promotes the enterprise performance through the intermediary effect of the product market maturity-oriented strategy.That is,entrepreneurs with institutional social capital are more likely to select science & technology capability-oriented strategy to improve the enterprise performance,because it is easier to obtain information,knowledge and funds from the relevant departments such as government,state-owned enterprises and scientific research institution and so on;Entrepreneurs with more marketability social capital can enter emerging product markets better through the social network of strong suppliers,customers and cooperative enterprises,that is,they choose product market maturity-oriented strategy to improve the enterprise performance.Based on the conclusion of the research,we have the following enlightenment in the practice of enterprise management: the entrepreneur should develop and maintain the social relation network actively,and utilize the entrepreneur' social capital reasonably,makes full use of the positive role of social capital through the effective matching of social capital and strategic choice.So that enterprises can transform the social capital into the enterprise performance and achieve stable growth and development.