A Study On The Competitive Strategy Of A Company's Music Engineering Business

As a strategic emerging industry with deep integration of culture,technology and economy,the cultural and creative industries have grown into a global market since the beginning of the 21^st century.With its unique cross-domain industrial value chain and extensive industrial penetration,influence and radiation,it has become the new bright spot of economic and modern industrial development as well as a new impetus for China’s economic development.Its scale of development and influence has become an important indicator of the comprehensive competitiveness of a country,region and city.According to a report released by the joint institutions such as UNESCO in 2016,the Asia-Pacific region has developed into the world’s largest cultural and creative industry market with a total output value of 743 billion US dollars,accounting for 33%of the global output value of the cultural and creative industries.China’s development of cultural and creative industries started relatively late,but the resources are very rich,and the potential for transforming resource advantages into industrial advantages is huge.In recent years,cultural and creative industries across the country have flourished.The added value of cultural and creative industries in Beijing,Shanghai,Guangdong,Hunan,Yunnan and other provinces and cities have exceeded 5%of GDP,becoming a strategic pillar industry of the regional economy and becoming a new growth point of industrial economy.As an important part of the cultural and creative industry,the professional lighting and audio industry has led the next round of development since the formation of the industry in the 1990s,along with the 2008 Beijing Olympic Games and the 2010Shanghai World Expo and the Guangzhou Asian Games.According to the prediction at that time,the demand for Chinese cultural market reached 550 billion yuan in 2008,and the market growth rate exceeded 20%.As one of the earliest companies to start music engineering business in China,A company is committed to providing professional and high-quality services to customers,including integrated audio solutions from concept design,preliminary design expansion,and in-depth design,to project construction,technical debugging,and content production.In the"13^th Five-Year Plan"of the Ministry of Culture,it is required to build a socialist cultural power and strengthen cultural soft power.It requires modern service industry to accelerate the in-depth integration of culture and science and technology,and to promote cultural innovation.This article is based on Michael E Porter’s competitive strategy theory,it provides suggestions for the company’s overall competitive strategy of designing a music engineering business in the“blue ocean”strategic emerging business of the professional lighting and audio industry,and transforms and develops the technology-based enterprises in the cultural and creative industries.The strategy implementation gives concrete and feasible solutions.Based on Porter’s"Competitive Strategy Theory",this paper analyzes the opportunities and threats of the external environment as well as the advantages and disadvantages of the internal environment.After the selection of the competitive strategy,the specific implementation of the differentiated competitive strategy is formulated.Based on the analysis of the internal and external resources of A company,this paper scientifically analyzes the status and condition of Music Engineering business in the industry,and strives to rationally choose the competitive strategy for the business.The constructive exploration of specific methods for strategic implementation aims to help A company’s Music Engineering business to explore and utilize its own advantages in the current fast-changing and rapidly growing competitive ecosystem,and gradually form a core competitiveness by establishing and implementing its own competitive strategy.In the face of rapid market growth,A company should conduct a top-level strategic design to adapt to the rapid development of the business.Meanwhile,explore the strategic opportunities for A company’s diversified business segment to capture the emerging business of Music Engineering in the process of transformation and development,tap its own capabilities and market share,and quickly establish early industry barriers.Also,establish A company’s image and prestige in the industry,participate in the development of industry"game rules",and maintain a leading position in the growth of emerging industry.Combined with the characteristics of A company’s own development,the development trend of the external environment,and the current competitive landscape of A company,it is considered that the differentiation strategy is the most suitable competitive strategy for the music engineering business.In the implementation process of the differentiation strategy,A company should adhere to the SO growth strategy,through the differentiated marketing strategy and operational strategy,that is,the three sub-business segments under the music engineering business develop together;regarding the 3D sound technology as the core technology difference,providing system products for different markets to meet the needs of music engineering business of various target customers;attaching importance to technology research and development,promoting the innovation of application system products;leveraging the advantages of own factories,localizing core system products;conforming to the development trend of information technology,improve the compatibility of system products and network transmission formats to reshape the value of the enterprise and get out of the"Red Sea"homogenous competition circle.At the same time,assist in the implementation of the differentiation strategy through the optimization of organizational structure,rational allocation of funds and human resources construction.This paper has a certain guiding role in researching and discussing the competitive strategy of technology-based enterprises in the development of strategic emerging businesses and the external competition management they face in the implementation process.Also,applying Porter’s"Competitive Strategy Theory",I hope this research paper has certain significance for the development of the Theory,especially in the application field.