The Research On The Influence Of Top Management Team Social Capital On Enterprise Strategic Change

In an increasingly dynamic,complex and uncertain environment,more and more companies are implementing strategic change,either proactively or forcibly,in order to respond to environmental changes through strategic change for sustainability.The increasingly objective and inevitable nature of strategic change in the course of sustained growth and development has attracted a great deal of attention in business practice and theory.However,the ’black box’ of how this complex strategic decision operates in a company has not yet been revealed.Does the perception that "when you are poor,you want to change,when you are rich,you want to be safe" still exist in corporate practice? Behind the strategic decisions of companies,the vision of executives plays a significant role.Therefore,there is an urgent need to study how executives use the resources brought by social capital to cope with changes in the market environment,how they can achieve strategic change through matching social capital with dynamic capabilities,and how environmental uncertainty affects the strategic behaviour of companies.Based on the top ladder theory,this paper explains the effectiveness of rapid response and strategic assessment based on information resources in a dynamic environment from the perspective of the social capital of the executive team,using the "resource-competency-behaviour" research concept.A process model of corporate strategic change is constructed at the level of the top management team,and the specific paths of influence of the social capital of the executive team on corporate strategic change are explained in three dimensions,and the mediating role of the two dimensions of dynamic capabilities and the moderating mechanism of environmental uncertainty in this causal chain are analysed.The study finds that:(1)Social capital of the executive team has a positive effect on strategic change;both horizontal and vertical social capital of the executive team have a negative effect on strategic change;(2)Dynamic capabilities have a negative effect on vertical social capital of the executive team,but not on social capital and horizontal social capital;(3)Dynamic capabilities have a negative effect on strategic change;(4)dynamic capability mediates the relationship between vertical social capital and strategic change,and partially mediates the relationship between social capital,horizontal social capital and strategic change;(5)environmental uncertainty negatively moderates the relationship between social capital and strategic change in executive teams.The findings of the study have implications for the mechanisms of strategic change,the construction of management teams and the response to environmental uncertainty.