Entrepreneurship Orientation,Investment And Financing Strategies And Performance Of Retail Enterprises

Research related to entrepreneurship has always been a policy concern,social concern and market needs.With the development of the Internet retail,the traditional retail industry has to start a second business and seek new development opportunities through transformation.As a strategic choice of enterprises,entrepreneurship orientation is of positive significance to both new enterprises and the transformation of traditional enterprises.Suning as a traditional home appliance chain enterprises,after the electricity transformation and the transformation of O2 O,comply with the new concept of retail development,now has grown into a enterprise which can provide consumers with the wisdom of the whole scene consumption experience retail enterprise.So,research the entrepreneurial orientation of Suning in the transition of entrepreneurial orientation and the influence of investment and financing strategies selected under the guidance of entrepreneurship on enterprise performance,can provide certain guidance for the traditional retail enterprise transformation.Therefore,the main problem of this paper is the conduction mechanism among entrepreneurial orientation,investment and financing strategy and enterprise performance.Entrepreneurial orientation refers to the tendency of innovation,preactivity and risk bearing that an enterprise has when making strategic choices.On the basis of prior research on entrepreneurial orientation and business performance,this paper creatively choose the investment and financing strategy as intermediary factors,when building the logical relationship among the three.This research is based on the strategic management theory and the theory of core competence as the connection elements to construct the theoretical framework of entrepreneurial orientation,investment and financing strategy and business performance.Then,Suning is taken as the case to analyze and verify the theoretical framework during the e-commerce transformation period and O2 O transformation period.This paper finds that the transmission mechanism between entrepreneurship orientation,investment and financing strategies and enterprise performance is as follows: entrepreneurship orientation drives investment and financing strategic choice,and investment and financing strategies influence enterprise performance.For enterprises at different development stages,the dimensions of their entrepreneurial orientation will show the dominant characteristics of different dimensions.Under the guidance of different dimensions of entrepreneurship orientation,the overall strategy of cultivating core competence will also be different,so the investment and financing strategy matching with the construction of core competence will be selected.The investment and financing strategies influence the performance of enterprises by influencing their earnings,growth and risks.Under the guidance of different dimensions of entrepreneurial orientation,the influence of investment and financing strategies on enterprise performance will also be different.The study of this paper theoretically enriches the research perspective of entrepreneurial orientation and enterprise performance,and in practical sense can provide reference for other new enterprises or traditional enterprises in the retail industry.Based on the development stage of their own enterprises,retail enterprises that adopt entrepreneurial orientation should select the leading dimension of entrepreneurial orientation that is most suitable for the development of enterprises based on the balance of all parties,identify the core capacity building needs of enterprises,and choose investment and financing strategies that serve the specific core capacity building.At the same time,certain performance expectations can be obtained from the performance transformation path of Suning,so they can adjust their own strategic choice to achieve the strategic goal of the enterprise.