Research On The Relationship Between Strategic Differences And Firm Performance

Entering the era of knowledge economy in the 21 st century,the fierce competition among enterprises has become more and more serious,especially in manufacturing enterprises.As the most important industry in the 12 th and 13 th Five-Year period,manufacturing enterprises have played a pivotal role in China's economic development.Under the background of the new economic normal,the formulation of corporate strategy has become an important factor in the development of enterprises,and an important part of promoting the development of enterprises.It is also an effective way to achieve better and faster growth of corporate performance.Therefore,it is of great practical guiding significance to explore the relationship between strategic differences and corporate performance,to rationally control strategic differences,and to promote stable and sustained growth of corporate performance.Studies have shown that strategic differences can lead to large fluctuations in corporate performance,increasing the uncertainty of companies,and companies are likely to have excellent or very poor performance.In order to further test whether the strategic differences will produce volatility,resulting in excellent or very poor performance results,here the absolute degree of deviation of the company's performance from the industry's average performance is defined as the extreme performance of the enterprise,used to test the difference between strategic differences and corporate performance.Relationship.In addition,the corporate strategy and the behavioral consequences arising from the strategy are closely related to the senior management team.In particular,the senior management team as the decision maker of the enterprise is the most valuable human capital of the enterprise,and also the core human capital of the enterprise,which can be in the corporate strategy and There are important effects in the consequences of its actions.Therefore,this paper considers the mechanism of the relationship between strategic differences and corporate extreme performance from the perspective of the enterprise,and considers the regulatory role of the background characteristics of the senior management team in the relationship between the two.Finally,based on the research conclusions,the enterprise is proposed.The executive team provides reference strategies for strategic decision making,team building,and internal corporate governance.This paper takes the 2013-2017 Shanghai-Shenzhen A-share listed companies as theresearch sample,and measures the background characteristics of the senior management team in terms of female proportion,age characteristics,education level and term of employment,and describes them.Statistics and other analysis.The Stata software was used to analyze the relationship between strategic differences and corporate extreme performance,and the regulatory effects of the executive team's background characteristics.Therefore,this paper first discusses the role of strategic differences in the extreme performance of enterprises;secondly,introduces the background characteristics of executive teams,and discusses the adjustment effects of four aspects of executive team background on strategic differences and corporate extreme performance.After analysis,the main conclusions are drawn: the strategic difference between manufacturing enterprises and the extreme performance of enterprises is a significant positive correlation,that is,the greater the deviation between the strategy of enterprise selection and the conventional strategy of the industry,the phenomenon of excellent or extremely poor corporate performance.The greater the possibility.The proportion of women in the senior management team,age characteristics,and education level have a negative adjustment effect on the relationship between strategic differences and corporate extreme performance,that is,the proportion of women in the senior management team,age characteristics,and education level can be strategic differences and enterprises.The relationship between extreme performance plays an inhibitory role,reducing the negative impact of strategic differences on firm extreme performance,while the executive team's tenure does not regulate the relationship between strategic differences and firm extreme performance.