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An Empirical Research on the Relationship among the Entrepreneurial Orientation, Dynamic Capacities and the Corporate Performance in Bio-pharmaceutical Enterprises

Author: ZhouRongZuo
Tutor: ZhangXiuE
School: Jilin University
Course: Business management
Keywords: Entrepreneurial Orientation Dynamic Capacities Corporate Performance Entrepreneurial Environment Bio-pharmaceutical Enterprises
CLC: F272.92
Type: PhD thesis
Year: 2012
Downloads: 487
Quote: 0
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Abstract


The bio-pharmaceutical industry has grown spectacularly for a while because ofits character of high-growing, the scale of this new industry will attain highlydeveloped level till2020and it will share one third of the global medicine output intotal. Bio-pharmaceutical industry of China has achieved great success in support ofthe government although it started relatively more later than other countries;nevertheless, we can’t overlook problems during its development at present, forexample,it owns single products and lacks of innovation. We can easily find thatbio-pharmaceutical enterprises need enough funds to support themselves,needabilities of risk resistance and must always keep the awareness of entrepreneurs,combined with characteristics of the biological pharmaceutical industry such ashigh-investment,high-risk,high-technology,etc.Entrepreneurial management theoryhas pointed out that the entrepreneurial orientation can play a crucial role for theoperation management without dynamic capacities, and also the entrepreneurialenvironment can have an effect on the corporate performance. By this token,it seemsthat it is important for bio-pharmaceutical enterprises to own excellententrepreneurial orientation,dynamic capacities and corporate performance, and thispaper in fact aims to analyze the relationship between them. Meanwhile, it also triesto reveal the intermediation function among the entrepreneurial orientation and thecorporate performance performed by dynamic capacities and the regulation functionamong them performed by the entrepreneurial environment. And the paper inconclusion has the following goals:first of all,it aims to enrich the entrepreneurialtheory;and secondly,it also intends to offer suitable suggestions for the local andcentral government about the policy’s formulation which will be on the benefit ofbio-pharmaceutical enterprise’s development by enhancing the core competitiveness.This paper mainly figures out those issues: firstly, it aims to analyze the relationship among the entrepreneurial orientation and the corporate performance ofbio-pharmaceutical enterprises;secondly, it aims to analyze the relationship betweenthe entrepreneurial orientation and dynamic capacities of bio-pharmaceuticalenterprises;thirdly, it aims to analyze the relationship between dynamic capacities andthe corporate performance of bio-pharmaceutical enterprises;fourthly, it also tries toreveal the intermediation function among the entrepreneurial orientation and thecorporate performance performed by dynamic capacities;fifthly, it tries to reveal theregulation function between the entrepreneurial orientation and dynamic capacitiesperformed by the entrepreneurial environment;sixthly, it tries to reveal the regulationfunction between dynamic capacities and the corporate performance performed by theentrepreneurial environment. Moreover, the whole paper is divided into six chapters.The first part introduces specifically the research background and methods,and givesthe framework of the whole paper. And chapter two mainly figures out severalconcepts including the entrepreneurial orientation,dynamic capacities, the corporateperformance and the entrepreneurial environment, and reviews literatures about therelationship between them.Chapter three mainly puts forward some researchhypotheses based on the comprehensive theoretical analysis about research issuesabove and thus establishes several research models. Chapter four mainly explains theprocess of the survey design and research objects and Chapter five discusses thoseproblems and tests those hypotheses according to the empirical analysis. Finally, itsummarizes results of discussions in total and represents the research significance.There are altogether213copies of the research questionnaire survey which isdepended on by the data analysis and empirical analysis about the relationship amongthe entrepreneurial orientation,dynamic capacities and the corporate performance,andthus we can draw some conclusions in the following.Firstly,the entrepreneurialorientation of bio-pharmaceutical enterprises has positive effect on the corporateperformance,and in other words, the entrepreneurial orientation can helpbio-pharmaceutical enterprises improve dynamic capacities and gain sustainablecompetitive advantages which can be beneficial to enhance the financial performanceand the growth performance.In addition,the effect of its dimensionalities ofinnovativeness,risk-taking and proactiveness for the entrepreneurial orientation of bio-pharmaceutical enterprises on the corporate performance has also beenconfirmed.Secondly,the entrepreneurial orientation of bio-pharmaceutical enterprises haspositive effect on dynamic capacities, and in other words, bio-pharmaceuticalenterprises can adapt the change of the market by exploiting new products orsupplying new service,which can make use of dynamic capacities that are hiddeninside the organization process and that can help marshal all kinds ofresources.Besides,the effect of its dimensionalities of innovativeness,risk-taking andproactiveness for the entrepreneurial orientation on dimensionalities of dynamiccapacities including the ability of environment identification, the ability ofrevolution,the ability of technology flexibility and the ability of organizationflexibility has also been confirmed.Thirdly, dynamic capacities of bio-pharmaceutical enterprises have positiveeffect on the corporate performance.According to results of the empirical analysis,wecan conclude that the more excellent bio-pharmaceutical enterprises have abilities ofenvironment identification, abilities of technology flexibility and abilities oforganization flexibility,the better they can acquire the financial performance,andsimultaneously,the more excellent those enterprises have abilities of technologyflexibility and abilities of organization flexibility,the better they will acquire thegrowth performance.But as well as the relationship between the ability ofenvironment identification and the growth performance, the relationship between theability of revolution and the growth performance,the relationship between the abilityof revolution and the financial performance has not been confirmed.Fourthly, the intermediation function among the entrepreneurial orientation andthe corporate performance performed by dynamic capacities for bio-pharmaceuticalenterprises has been confirmed. And dimensionalities of dynamic capacities includingthe ability of environment identification, the ability of revolution,the ability oftechnology flexibility and the ability of organization flexibility can play a positiveintermediation role between the innovativeness of the entrepreneurial orientation andthe financial performance,while the ability of technology flexibility can play apositive intermediation function between the innovativeness of the entrepreneurial orientation and the growth performance.At the same time, dimensionalities ofdynamic capacities including the ability of environment identification,the ability ofrevolution,the ability of technology flexibility and the ability of organizationflexibility can play a positive intermediation role between risk-taking of theentrepreneurial orientation and the financial performance,while the ability ofenvironment identification and the ability of technology flexibility can play a positiveintermediation role between risk-taking of the entrepreneurial orientation and thegrowth performance. And moreover, the ability of revolution and the ability oftechnology flexibility can play a positive intermediation role between theproactiveness of the entrepreneurial orientation and the growth performance, whilethe ability of revolution can play a positive intermediation role between theproactiveness of the entrepreneurial orientation and the financial performance.Fifthly, the regulation function between the entrepreneurial orientation anddynamic capacities performed by the entrepreneurial environment forbio-pharmaceutical enterprises has been confirmed. They will adopt the right strategyto adapt the changing surroundings outside,and thus they can obtain excellentdynamic capacities. Meanwhile, dimensionalities of the entrepreneurial environmentincluding dynamics and hostile can play a positive intermediation role between theentrepreneurial orientation and dynamic capacities.Sixthly, the regulation function between dynamic capacities and the corporateperformance performed by the entrepreneurial environment for bio-pharmaceuticalenterprises has been confirmed. It helps optimize the internal feature of theorganization, obtain excellent dynamic capacities and get the sustainable competitiveadvantage, and thus it makes great contribution to the corporate performance.Meanwhile, the dimensionality of dynamics for the entrepreneurial environment canplay a positive intermediation role between them, but the dimensionality of hostilecan’t.The bio-pharmaceutical industry has had rapid progress in sprite of investing somuch nowadays, and it also has become a hot in the academic research at home andabroad.This paper, based on bio-pharmaceutical enterprises, mainly analyzes therelationship between the entrepreneurial orientation, dynamic capacities and the corporate performance in order to enrich the entrepreneurial theory. Andsimultaneously at the same time, it aims to find ways to study bio-pharmaceuticalenterprises and give right suggestions that they can enhance and maintain the corecompetitiveness advantage,and keep sustainable development.

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CLC: > Economic > Economic planning and management > Enterprise economy > Enterprise planning and management decision - making > Corporate Administration > Personnel Management
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