Exploring the Relationship Between Corporate Strategy and Innovation Ecosystems in Global Firms: A Study of Chinese Firms
DOI:
https://doi.org/10.53797/ujssh.v3i2.28.2024Keywords:
Corporate Strategy, Innovation Ecosystems, Chinese Firms, Global Competitiveness, Quantitative AnalysisAbstract
This study investigates the correlation between corporate strategy and innovation ecosystems within global enterprises, with particular emphasis on Chinese companies. As innovation ecosystem networks of interdependent organisations foster collaborative invention and gain importance, enterprises must synchronise their strategic orientations to optimise ecosystem advantages. Corporate strategy, which dictates resource allocation, competition, and collaboration, is crucial in influencing engagement in these ecosystems. Despite the growing worldwide presence of Chinese enterprises and their incorporation into international innovation networks, more quantitative research is needed to examine how strategic orientations affect their performance within these ecosystems. This study employed a quantitative methodology to gather data from 300 Chinese enterprises operating abroad in the technology, manufacturing, and pharmaceutical sectors. Essential variables encompass corporate strategy, assessed by Miles and Snow's typology, innovation ecosystem engagement through cooperation intensity and partner variety, and firm performance evaluated through financial and innovation measures. Regression research indicates that differentiation methods are significantly associated with increased ecosystem engagement, but cost-focused techniques demonstrate minimal involvement. The results emphasise the significance of strategic alignment with ecosystem objectives, showcasing distinct dynamics shaped by China's institutional and commercial conditions. This study enhances the literature on corporate strategy and innovation management by providing practical insights for organisations and policymakers seeking to improve global competitiveness. Future research should investigate longitudinal linkages and sector-specific differences to thoroughly comprehend how organisations might utilise innovation ecosystems for sustainable success.
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