Entrepreneurial Orientation,Dynamic Capability And Enterprise Innovation Performance

China’s medical system reform has continued to advance recently,and medical and health care has received more and more attention.According to the Annual Report on Drug Administration statistics(2020),by the end of 2020,there were 7,690 drug manufacturers in China,and the R&D investment of the pharmaceutical manufacturing industry reached 78.46 billion yuan.The proportion of new drug development has also risen to the second echelon in the world.Also,China’s major achievements such as synthesizing bovine insulin and artemisinin have made outstanding contributions to the research and development of new drugs in the world.However,due to the late start,poor foundation,and the gap between the technical level and the mature market,the output of innovative drugs is not much,the content of medical technology is low,and our adaptive capability in market environment is poor,which has bad effections to the industry sustainable development.Companies with strong entrepreneurial orientation are willing to make more aggressive and higher-invested innovation actions at the same risk or even higher risk.The company’s innovation actions are deeply embedded in the entrepreneurial-oriented strategy,which can promote the increase of innovation actions,and promote the output of innovation results.Pharmaceutical industry as a leading innovation industry,it is of great practical significance to explore the value effect of the implementation of its entrepreneurship oriented strategy on innovation output.After sorting out the literature and theoretical research,this thesis clarifies the internal logical relationship among entrepreneurial orientation,dynamic capability and innovation performance based on the theory of dynamic capability and strategic fit,this thesis select the research samples of A-share listed pharmaceutical manufacturing enterprises in Shanghai and Shenzhen stock markets.and conduct empirical research on their data from 2012 to 2020.Firstly,the effect of entrepreneurial orientation on enterprise innovation performance is tested and the significance is verified by dimension,and then the mediating and moderating effects of dynamic ability and environmental dynamics are respectively tested.Data analysis methods such as correlation analysis,regression analysis and robustness test are used,and the results are as follows:(1)Entrepreneurial orientation contributes to the improvement of innovation performance,and the dimensions of innovation,risk and proactiveness all show a positive correlation with innovation performance;(2)Entrepreneurial orientation helps to improve the level of dynamic capabilities of enterprises,and plays a significant role in the improvement of dynamic innovation capabilities and dynamic adaptability;(3)The innovative ability and adaptive ability of dynamic ability play an obvious mediating effect in the process of entrepreneurial orientation on innovation performance;(4)Environmental dynamics positively regulates the impact of entrepreneurial orientation on innovation performance,that is,the promotion advantage of entrepreneurial orientation is more obvious in the case of greater environmental dynamics.Finally,according to the above conclusions,some suggestions for enterprise management practice are put forward.