The Growth Path for Hidden Champion of China Manufacturing Enterprises from the Perspective of Resource Allocation:An Exploratory Case Study based on Hailiya
Hidden champion enterprises,as a new force to solve the"stuck neck"problem of technology and industry,are the key to break the technological blockade and low-end lock,and complete the upgrading of industrial structure.Under the background of anti-globalization,in which the hot trade war and the cold war of science and technology are increasingly severe,the growth of local hidden champion enterprises shows unique characteristics different from foreign enterprises,and it is of great research value to explore their growth process and internal mechanism.Based on the perspective of resource allocation,this paper explores the growth path of hidden champions in manufacturing enterprises through the longitudinal case analysis of Hailiya Group.The research found that:firstly,the growth process of the hidden champion of manufacturing enterprises is the process of focusing on the market and digging deeper into the technology vertically,and broadening the technology application scene horizontally,and Its growth path presents a"T-shaped strategy"evolution track of"business focus-deep technology cultivation-scene extension";Secondly,the resource allocation strategies of manufacturing enterprises are different under different environmental pressures:in terms of customer asset allocation,the growth of enterprises has experienced an iterative development process of"focusing on core main business-linking key customers-seeking growth space"and"identifying niche markets-deepening niche markets-incubating niche markets";In terms of innovative asset allocation,enterprises follow the iterative evolution process of"identifying technology gap-introducing technology standards-promoting technology integration"and"cultivating R&D capability-building R&D network-building digital platform together";Finally,The growth mechanism of the hidden champions of manufacturing enterprises mainly includes four key elements:embedding in niche markets,focusing on technological innovation,extending business scenarios,and constructing ecological capabilities.Through these elements,enterprises focus on market segmentation,define the direction of technological development,expand the application scenarios of technology,and realize resource sharing to promote industrial development.The theoretical contributions of this paper are as follows:on the one hand,this paper analyzes the key situational factors that promote the growth of manufacturing enterprises from the two dimensions of market and technology,and explores the path and mechanism of these situational variables affecting the growth of manufacturing enterprises into hidden champions,which enriches the research on enterprise growth to some extent;On the other hand,the discussion on the growth mechanism of hidden champion in manufacturing enterprises not only enriches the research object of resource allocation theory,but also reveals the dynamic evolution track of the growth of hidden champion enterprises,more clearly deconstructs the uniqueness of the growth of hidden champions in China's special situation,and to a certain extent,answers the research problem of"how to break the"stuck neck"problem of manufacturing enterprises to achieve the market leadership in the industry segments",which can provide more understanding and experience for China manufacturing enterprises to embark on the road of specialization and novelty hidden champion.Responding to the call from scholars to expand research on the growth of hidden champion firms in the Chinese context.The practical enlightenment of this paper is that hidden champion enterprises can"dig deep"through the dynamic allocation of customer assets and innovative assets,and at the same time,broaden the market application scenarios horizontally based on technical attributes,and transform from production-oriented manufacturing to service-oriented manufacturing,so as to bridge the contradiction between the vertical specialization of technology and the horizontal diversification of market application scenarios.Therefore,this paper is not only an expansion of the explanation boundary of resource allocation theory,but also a new attempt and exploration to deconstruct the growth path of hidden champions of China manufacturing enterprises.
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