The Influence Of Market Structure And Industry Clockspeed On Enterprise Innovation Strategy

With the rapid development of China for strategic emerging industries and technology development in the industry increasingly attention,technology dynamic in the industry and the changes of market structure become to the two external environmental which the smooth operation of enterprises need to pay attention.the innovation strategy formulated according to their own development characteristics is positive response to changes in the external environment.How to choose appropriate types of innovation and innovation investment scale according to the technology and market environment in a timely manner is the key to the survival and development of enterprises.In this paper,we use the existing theory to analyze the influence path of market structure and industry clockspeed on enterprise innovation returns.On this basis,the model of enterprise innovation strategy selection under the symbiosis of market structure and industry clock is constructed.Based on the results of the model calculation,the paper gives the comparison of the enterprise innovation strategy choice under the market structure and industry clockspeed change/unchange.The following conclusions are obtained.(1)The market structure influence enterprise innovation returns through the intermediary role of strategic orientation of enterprise and market knowledge spillover effect.The greater the market competition intensity is,the bigger enterprise innovation returns are,enterprises tend to choose large-scale exploratory innovation.When the scale of innovation investment is certain,the increase of market competition intensity leads to the reduction of technology similarity.When the innovation type is chosen,the scale of innovation investment is positively correlated with the market competition intensity.(2)The industry clockspeed influence enterprise innovation returns through intermediary role of industrial technology opportunity and enterprise absorption ability.The faster the rate of technological change is,the bigger enterprise innovation returns are,enterprises tend to choose large-scale exploratory innovation.When the scale of enterprise innovation investment is certain,the faster the industry clock is,the lower the technological similarity ofthe innovation type chosen by the enterprise.In the case of certain types of innovation,the acceleration of the industrial clock leads to the increase of the scale of innovation investment.(3)The faster the industry clockspeed is,the greater the intensity of market competition is,the higher enterprise innovation returns are in the environment with fast industry clockspeed and strong market competition intensity or in the industry growth period,enterprises are more likely to choose large-scale exploratory innovation.However,in the industry with slower industry clockspeed and less competitive market or in the industry maturity or decline period,the lower the innovation returns are,the more inclined to choose small-scale exploitative innovation.Compared to the market structure,effect of industry clockspeed impact on enterprise innovation returns relative to the more;the market structure,industry clockspeed innovation type choice is more important to their industry.Compared with the market structure,industry clockspeed is more important to the choice of the type of innovation.Compared with the scale of innovation investment,the market structure and industry clockspeed are more important to the choice of the enterprise innovation type,and the influence effect is bigger.(4)When the industry clockspeed and the market structure are fixed,the knowledge stock of different enterprises in the same industry reflects the heterogeneity among enterprises.And knowledge innovation cycle decided by the knowledge stock is longer,the enterprise innovation returns are higher.When the type of enterprise innovation is certain,the longer the innovation cycle is,the larger the scale of innovation investment is needed.When the scale of enterprise innovation investment is certain,the longer the innovation cycle is,the greater the technical similarity is.Compared with the similarity of technology,the impact of innovation cycle on the scale of innovation investment is greater.The paper highlights the influence of market competition intensity and the rate of technological change on the choice of innovation strategy and innovation activities.It guides the enterprise to make the priority decision according to its own technology and industrial environment,to make priority decisions based on the size of the influence effect,and to strengthen the knowledge and ability to respond to the change of the external environment.It improves the adaptability of enterprises to respond to the external environment,and promotes the benign interaction between enterprises and the external environment.