| The “13th Five-Year Plan” period is an essential time for China to focus on the reform and promotion of agriculture.As a fully competitive industry,the feed industry has a highly competitive market and products with a high degree of homogeneity.Its decentralized and regionalized business model has forced small enterprises to withdraw from the market,resulting in a high degree of concentration in the feed industry.Under such circumstance,the medium and large feed enterprises should strive to improve their growth capacity in an effort to survive.Statistics from China Feed Industry Association show that that feed production in2021 will reach 293.44 million tons,an increase of 16.1% over the previous year,and total operating revenue will reach 1,168.7 billion yuan.Therefore,scale and concentration of the feed industry will not impact on its future growth space.The thesis takes Wellhope as a research sample and conducts an in-depth analysis on the three internel factors that affect its growth,which are corporate governance,technological innovation and strategic transformation,to reveal the interaction among the three internal factors and the way to facilitate the growth of Wellhope.By summarizing the growth experience of Wellhope,the thesis presents a reference for those companies that are encountering growth difficulties.The thesis applies research methods like literature study and case analysis,and the research is conducted on the basis of existing domestic and foreign literature.To begin with,the connotation of company growth and the related theoretical foundation are presented.Secondly,it introduces the historical evolution,organizational structure and staff composition of Wellhope and the development of the feed industry,and illustrates Wellhope’s growth history with respect to corporate governance,technological innovation and strategic transformation.Then,the thesis chooses a quantity of financial indicators for a longitudinal analysis of its growth,and uses factor analysis to analyze horizontally the position of Wellhope growth in the feed industry,and uses performance forecast and sustainable growth rate forecast by Assessment Agencies to predict the growth potential of Wellhope.The result shows that Wellhope has a promising growth potential.Next,the thesis focuses on three internal factors:corporate governance,technological innovation and strategic transformation,and deeply analyzes their specific influence on the growth of Wellhope.The research findings indicate that perfect corporate governance helps enterprises to operate effectively,the senior management team leads R&D innovation,and reasonable incentive mechanism stabilizes core talents.The research also shows that continuous technological innovation contributes to the improvement of products and services quality,brings down the cost of products,and enables enterprises to have certain market competitive advantage.The research also reveals that strategic transformation in line with the current situation accelerates product innovation,and contributes to increase of revenue and expansion of production capacity.Finally,the thesis draws inspirations from three aspects.Corporate governance can be improved by optimizing the ownership structure,stabilizing the core talents team,and enriching incentive methods.Technological innovation may be achieved by establishing effective communication channels with other organizations,introducing and cultivating technical executives,and focusing on demands in the market.Strategic transformation can be accelerated by building core competitiveness,taking into account the practical conditions of the company as well as new developments in the industry,etc. |
