Relationship Between Service Strategy And Performance Of Equipment Manufacturing Enterprises

Equipment manufacturing industry,as the pillar of the main manufacturing industry in China's national economy,plays an important role in national economic development.But at this stage,China's equipment manufacturing enterprises are still in the middle and low end of the global equipment manufacturing industry chain.The lack of original innovation ability of products,transparency of production information of physical products and homogeneity of performance indicators make their profit space constantly squeezed by market competition.In order to seek new profit growth points,equipment manufacturing enterprises have been oriented by service,relying on derivative services of physical products,providing integrated solutions to customer problems,achieving high-end value lock-in,improving enterprise competitiveness and profit growth.At present,there is no definite conclusion about the relationship between the service strategy and the performance of manufacturing enterprises.There are such phenomena as positive or negative correlation,horizontal "S" trend,positive or inverted "U" trend,and even restrain the performance improvement,resulting in "service paradox".Despite the existing literature on the "service-performance" relationship of influencing factors,but more attention is paid to organizational characteristics or capacity factors,how resources affect the relationship between manufacturing enterprise service strategy and enterprise performance is still lack of a clear elaboration.Therefore,this study takes China's equipment manufacturing enterprises as the research object,demonstrates the existence of the "service paradox" of equipment manufacturing enterprises,and explores the impact mechanism of customer relationship and innovation resources on the relationship between service strategy and enterprise performance from the perspective of resources,so as to provide theoretical guidance for Chinese manufacturing enterprises in different stages of service strategy implementation to realize service transformation and upgrading.Based on the relevant theoretical basis and literature review,this study divides the service strategy of equipment manufacturing enterprises into two dimensions: basic and upgrading,according to the stage characteristics of service-oriented enterprises and the evolution trend from product-oriented to customer-oriented with products as carriers.Based on the analysis of the relationship between service strategy and enterprise performance,as well as the impact of customer relationship and innovation resources on the relationship between "service-performance",a conceptual model of the relationship between service strategy and enterprise performance of equipment manufacturing enterprises with customer relationship and innovation resources as adjusting variables is constructed,and relevant research hypotheses are put forward.Taking 115 listed equipment manufacturing enterprises in China as samples,financial data are used.Regression analysis was carried out to verify the theoretical model and research hypothesis.The results show that:(1)There is no "service paradox" in the process of implementing service-oriented strategy in China's equipment manufacturing enterprises,that is,both basic and enhanced service-oriented strategies have a significant role in promoting enterprise performance.Equipment manufacturing enterprises can not provide pure professional services to customers by diverting manufacturing business.Therefore,in terms of short-term benefits and long-term development,the implementation of product-based and enhanced service strategy by equipment manufacturing enterprises will not reduce enterprise performance.(2)The moderating effects of customer relationship and innovation resources on the relationship between service strategy and performance of equipment manufacturing enterprises are different.Customer relationship has no moderating effect on the relationship between basic and enhanced service-oriented strategy and enterprise performance,but strengthening customer relationship has a positive moderating effect on the relationship between enhanced service-oriented strategy and enterprise performance;innovative resources have a positive moderating effect on the relationship between basic and enhanced service-oriented strategy and enterprise performance,while increasing investment in innovative resources has a positive moderating effect on the relationship between basic and enhanced service-oriented strategy and enterprise performance.The moderating effect of enterprise performance relationship is weakened,which has a positive moderating effect on the relationship between promotion type and enterprise performance.(3)Equipment manufacturing enterprises should re-examine the service strategy and pay attention to the appropriateness of the service strategy promotion,customer relationship and innovative resources.In the initial stage of service-oriented strategic transformation,we should focus on technological innovation,lay stress on tamping the core technology of tangible products and functional needs of customers,provide standardized basic services for customerswithout too much attention to the deep involvement of customers;enter the advanced stage of service-oriented strategic transformation,take the solution of customer problems as the orientation,and cooperate with product technology innovation and service innovation to provide customers with standardized basic services.Providing customized enhanced services requires not only early customer participation and interaction,but also long-term interaction with customers throughout the life cycle to meet the dual needs of equipment manufacturing enterprises for service strategy implementation and resource efficiency maximization.