Enterprises'High Growth Mechanism in the Digital Economy Era:A Strategic Rhythm Perspective
In the era of the digital economy,the rapid iteration of the customer demand has become a major driver of strategic change for enterprises,creating ongoing resource constraints that can impede high growth of enterprises.High-growth enterprises typically play a significant role in wealth creation and employment;however,few papers have studied enterprises'high growth mechanism due to its transient and intermittent nature.This study conducts a longitudinal case study of the entire process in which Jiashu responded to the rapid iteration of customer demand and ultimately achieved high growth.Structured data analysis methods are then used to conduct an in-depth analysis of interview data from Jiashu's founder,CEO,and five other core executive team members.A theoretical model is finally constructed for enterprises to achieve high growth by controlling the strategic rhythm in the digital economy era.According to the case analysis,this paper suggests that controlling strategic rhythm in two stages(matching assessment and strategic adaptation)is the key mechanism for enterprises to achieve high growth.In the matching assessment process,enterprises determine the timing of responding to a new demand by assessing the match between external opportunities and internal capabilities.In the strategic adaptation process,enterprises choose between two proactive logics,strategic follow-up or strategic retardation,to align with the new demand.Strategic follow-up based on ambidextrous learning enables enterprises to respond quickly and capitalize on emerging trends for rapid performance growth.Strategic retardation based on exploratory learning enables enterprises to wait for a more favorable opportunity when a quick response is challenging,and build capabilities to achieve rapid growth after gaining a monopoly advantage.By proceeding in an orderly manner with the strategic alignment assessment and strategic fit processes,and by choosing strategic follow-up or strategic retardation to cope with new customer demands,enterprises can effectively adjust and control their strategic rhythm.This helps enterprises greatly enhance the value of their strategic adaptation actions and ultimately achieve high growth.This study contributes to both the advancement of theoretical research on enterprise growth and strategic rhythm,and provides guidance on management practice for high-growth enterprises.This study constructs a process model for enterprises to achieve high growth in the scenario of rapid market demand iteration,which provides a new insight for enterprises to achieve high growth in the digital economy era,and further proposes a specific action guide for enterprises to follow.This study identifies the strategic retardation,a new strategic action logic between strategic follow-up and strategic exit,which enables enterprises to achieve success when they encounter a market opportunity that is difficult to grasp at that moment.This study further advances the study on the theoretical relation between organizational learning and enterprises'strategic action and suggests that enterprises should flexibly apply organizational learning in different strategic situations,which can help enterprises ensure short-term and long-term benefits by fully leveraging the advantages of various forms of organizational learning.
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