Research On Dynamic Process Of Entrepreneurial Enterprise Project Portfolio Based On Discrete Event System Theory

In order to promote healthy and sustainable development of China economy,Premier Li Keqiang proposed "mass entrepreneurship" at the Summer Davos Forum in September2014,which set off a new wave of mass entrepreneurship;and more and more people have been joining the current of entrepreneurship.Meanwhile,with the continuous release of demographic dividend,labor dividend and policy dividend,and the impact of disintermediation,flattening and equality of the internet,the threshold of entrepreneurship is constantly lowered,and the number of entrepreneurial enterprises rises sharply.However,it is a fact that the survival rate and success rate of start-ups are low.Although the pursuit of the success of a single project has the meaningfulness of pooling limited resources,the requirement for a must-be successful outcome of the project is too harsh and even unrealistic due to the uncertainty of the project and the market itself.We argue that projects portfolio may be a necessary managerial measure for entrepreneurial enterprises.The motivation of this study is to discover and test startups general rules that may exist in the implementation of portfolio management of start-ups in their entrepreneurial process;and to inquire the necessity of project portfolio management for start-ups before a matured business model emerges,as well as to investigate the event-driven dynamics of the project portfolio management processes of start-ups.As for the research contents and methods appplied,this paper uses case study method through field investigation,interviews,records,inspection,participatory observation,collecting and organizing data,building theory on the basis of case data and variable coding,by applying discrete event system theory,we analyzed the event-driven mechanism of the project portfolio management process of entrepreneurial enterprises;subsequently,means-end chain laddering(MEC)technique is applied to investigate the dynamic development process of projects portfolio management that may lead to a matured converged business model.This paper studies and demonstrates the general propositions about how to effectively reduce the risk of entrepreneurial failure through project portfolio management and how to realize the growth of entrepreneurial ability in the process of dynamic project portfolio management.Innovation point of this article may lie in: from the perspective of event driven dynamics,through the dimensions of time,space,market environment,personal and team and the impact strength,we analyzed the event-driven mechanism of entrepreneurial capability growth of start-ups,through how to enable and manage active portfolio,active-event,passive-event,key-events,enterprise resources,entrepreneurship and their relationship to each other;by means of means-end-chain model,we describes the dynamic process of project portfolio in three stages: "initial stage","exploratory stage" and "mature stage",and demonstrates that the event-driven dynamic development process of project portfolio of entrepreneurial enterprises is a process of convergence and maturity of its business model.We conclude that project portfolio management has an important impact on the financial viability of entrepreneurial enterprises.Through effective project portfolio management,entrepreneurial enterprises can improve their dynamic enterprise capabilities such as internal resource coordination and external resource growth,and gradually form a matured business model of convergence.