The Evolution Of Growth Model And Cultivation Of Competitive Advantage Under Innovation Strategy

Since 2015,the national strategy "Made in China 2025" has proposed that the overall performance of the home appliance industry is depressed and it is urgent to transform and upgrade to intelligent manufacturing.In this context,how to achieve the industrial transformation and upgrading of traditional home appliance enterprises has become the focus of research.However,there are still some gaps in the research.There is a lack of internal logic to summarize the general law from specific cases and analyze the "endogenous + extension" dual driving mode to realize the cultivation of competitive advantages in the transformation and upgrading process of home appliance enterprises under the guidance of innovation strategy.Taking Midea Group as an example,the core research question of this paper is how to achieve the cultivation of core competitive advantage under the dual drive of "extension + endogeny" through the function and evolution of different growth modes under the requirements of industrial transformation and upgrading.Through a single case study,this paper explores how home appliance enterprises choose appropriate M&A targets to acquire external innovation resources and quickly enter new markets under the guidance of innovation strategy,and discusses how to realize the transformation of growth model in the process of extension expansion,and actively integrate internal and external innovation resources to cultivate innovative advantages through endogenous development.This paper aims to reveal the internal mechanism of the "extension + endogenous" dual drive to achieve the cultivation of competitive advantage,so as to provide a theoretical basis for the innovation driven transformation and upgrading of the traditional home appliance industry.The innovation points of this paper are as follows: firstly,it complements the relevant research on the evolution,transformation and interaction of the two types of extensional growth and endogenous growth in different stages of the dynamic development of enterprises;Second,taking the process of knowledge absorption as the entry point,the case analysis of home appliance enterprises that adopt innovation strategy to realize transformation and upgrading when traditional industries encounter bottlenecks is supplemented.Thirdly,the internal mechanism of core competitive advantage cultivation through the "endogenous + extension" dual driving mode of home appliance enterprises in the process of transformation and upgrading is added and revealed.The research findings of this paper are as follows: First,Midea Group accurately identifies multi-dimensional window of opportunity and expands under the guidance of innovation strategy.The selection of acquisition targets meets the requirements of transformation and upgrading,complements the current business advantages of the Group,implements risk control in the process of knowledge acquisition,and promotes the absorption of external innovation resources;Secondly,Midea Group constantly adjusts its innovation strategy by analyzing the changes of opportunity window,improves the enterprise’s own knowledge absorption capacity,strengthens the wholeprocess knowledge management before and after the merger,realizes the integration of internal and external innovation resources and internalization and utilization of external knowledge absorption,and the emergence of innovation achievements.Third,Midea Group realizes its core competitive advantage through the dual driving mode of "endogenous + extension".The key lies in the interpretation of opportunity window at each stage and timely adjustment of growth mode,so as to avoid falling into the "ability trap" of over-reliance on existing knowledge and the "innovation trap" of over-pursuit of new knowledge.This article research significance: in theory,this paper enriches the home appliance enterprises under the background of transformation and upgrading "endogenous +epitaxial" double drive growth pattern research,in-depth analysis the denotative and organic growth to achieve the innovation process of evolution,new competitive advantage for the construction of traditional manufacturing cultivating general path with theoretical contribution to the research.At the practical level,this paper takes Midea Group as an example to deeply explore the internal mechanism of home appliance enterprises cultivating competitive advantages through "endogenous +extension",so as to provide practical guidance for the transformation and upgrading and innovation ability cultivation of other home appliance enterprises.