The Path Dependence of Enterprise Strategic Adjustment and Its Transcendence Analysis

The world today is in a period of great development and integration of economy,information,and technology,especially the high-tech industries represented by big data,cloud computing,and artificial intelligence.It is promoting the rapid increase of human productivity and leading the changes in various industries.Enterprises are facing more and more uncertain external environments.The previous organizational strategy,personnel structure,and operating strategies have been unable to adapt to the turbulent external environment,and innovation has become the norm.Therefore,how to find an innovative breakthrough point on the original strategic road on which to survive has become a matter of life and death.From the perspective of path dependence theory,this paper analyzes the characteristics of path dependence and transcendence path dependence during the adjustment of corporate strategy,and analyzes the internal causes and mechanisms of its generation with the help of the PEST model.Based on this,the negative impact of path dependence on the adjustment of the strategy was found.Furthermore,it was found above that the degree of transcendence path dependence in corporate strategic adjustment is determined by two factors:its ability to drive independent innovation in a dynamic environment and its ability to transform strategically.Finally,according to the research conclusions,it proposes countermeasures to overcome the path dependence of enterprises when adjusting their strategies,and provides suggestions for companies to find breakthrough points in disruptive innovation.

The Path Dependence of Enterprise Strategic Adjustment and Its Transcendence Analysis

The world today is in a period of great development and integration of economy,information,and technology,especially the high-tech industries represented by big data,cloud computing,and artificial intelligence.It is promoting the rapid increase of human productivity and leading the changes in various industries.Enterprises are facing more and more uncertain external environments.The previous organizational strategy,personnel structure,and operating strategies have been unable to adapt to the turbulent external environment,and innovation has become the norm.Therefore,how to find an innovative breakthrough point on the original strategic road on which to survive has become a matter of life and death.From the perspective of path dependence theory,this paper analyzes the characteristics of path dependence and transcendence path dependence during the adjustment of corporate strategy,and analyzes the internal causes and mechanisms of its generation with the help of the PEST model.Based on this,the negative impact of path dependence on the adjustment of the strategy was found.Furthermore,it was found above that the degree of transcendence path dependence in corporate strategic adjustment is determined by two factors:its ability to drive independent innovation in a dynamic environment and its ability to transform strategically.Finally,according to the research conclusions,it proposes countermeasures to overcome the path dependence of enterprises when adjusting their strategies,and provides suggestions for companies to find breakthrough points in disruptive innovation.

Tasks and Priorities for Comprehensively Deepening Reform of China’s State Sector of Economy

The Third Plenary Session of the 18th CPC Central Committee ushered in a new chapter of China＇s comprehensive deepening of reform. The basic objective of comprehensively deepening reform of the state sector of economy in the new chapter is to fully integrate this sector with a sophisticated market economic system with the market playing the decisive role in resource allocation. In order to achieve this objective, China is confronted with the four major priorities of adjusting the functions and layout of the state sector of economy according to national mandates, expediting the mixed ownership reform, creating a classified and multi- tiered new system for the administration of the sector, and developing a modern corporate system for SOEs to ensure an efficient micro-level governance mechanism for the sector. （1） The functions of the different types of SOEs should be accurately defined and SOEs should be divided into the three types of public policy SOEs, functional SOEs, and commercial SOEs. This classification forms the premises for reforming the state sector of economy. Based on the functions of the three types of SOEs, the directions and emphases for strategic adjustment should differ as well. （2） The mixed ownership reform should adhere to the methodological principles of combining top-down and bottom-up approaches, implementing pilot programs, and promoting coordinated progress. Practical implementation should ensure fair and standard reform procedures, reform programs consistent with laws and regulations, open and fair equity transfers, as well as fair and transparent internal distributions. The mixed ownership reform of SOEs should introduce the employee stock ownership system and adhere to the principles of compatible incentives, shared growth, and long-term development. Monopolistic sectors should be transformed into competitive market structures to create conditions for the implementation of mixed ownership for SOEs. （3） The new system for the administration of the state sector of economy should comprise three hierarchies： the Commission for the Administration of State Economy at the top level, state capital operation companies or state capital investment companies at the intermediate level and general for-profit enterprises at the bottom level, which administer public policy, functional SOEs, and commercial SOEs respectively. （4） Under the new system for the administration of the state sector of economy characterized by the three hierarchies and categories, the key for perfecting the modern corporate system of SOEs is to establish a differentiated, classified governance mechanism, i.e., different corporate governance mechanisms should be created for SOEs of different functions and roles.

From Strategic Ambiguity to Strategic Clarity——Obama Administration’s Global Strategic Adjustments and China-U.S.Relations

Since the end of the Cold War,the United States has turned out to be the sole world superpower and possessed the unmatched power,and its international status and security situation reached the best period in its history.Although the U.S.power has declined relatively,its advantages have not changed substantially.The advantages of the U.S.power determine the essence of the U.S.global strategy,and since the end of the Cold War remains almost intact,which is committed to maintenance of the U.S.hegemony,including 3 core goals:maintaining security,expanding economy and promoting democracy.Since the end of the Cold War,all U.S.presidents have adhered to this hegemonic strategy while making some major adjustments,with some changing expressions and the priorities of the strategic goals.It should be pointed out that there is an important and possibly dangerous trend in the adjustments,,which is the gradual disappearance of strategic flexibility and strategic ambiguity.In other words,these global strategic adjustments after the Cold War have been increasingly focusing on China and the Asia-Pacific region.This trend is likely to continue in the second term of President Obama and will affect the development of China-U.S.relations to a large extent.