Strategic Transformation of Enterprises Based on Symbiosis of Innovation and Entrepreneurship： Case Analysis on Royalstar Group ‘Double Innovation Model’

QIAN Yan-Wen; GU Yuan-Xun

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Journal of Beijing Jiaotong University（Social Sciences Edition） ›› 2023, Vol. 22 ›› Issue (1) : 114-122.

Strategic Transformation of Enterprises Based on Symbiosis of Innovation and Entrepreneurship： Case Analysis on Royalstar Group ‘Double Innovation Model’

QIAN Yan-Wen, GU Yuan-Xun

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Abstract

In order to open the “black-box” of the strategic transformation process of enterprises， this paper， based on the theories of strategic management， open innovation， business incubation and other theories， proposes an innovation and entrepreneurship （I-E） model of the strategic transformation process based on the case study of Royalstar enterprise strategic transformation. According to the research， the innovation and entrepreneurship incubation activities of new start-ups are essentially consistent with the evolution process of innovation and entrepreneurship of existing enterprises， and the process of strategic transformation of enterprises is the process of innovation and entrepreneurship. Innovation is the content of strategic transformation and the foundation for realizing new value creation； entrepreneurship is one of the forms of realizing new value creation in the process of strategic transformation， and determines the realization path of the strategic transformation process. Integrated and symbiotic， innovation and entrepreneurship realize benign interaction in content and form， and further form a core link to promote the continuous advancement of the strategic transformation process of enterprises. Therefore， in the implementation of strategic transformation， innovation and entrepreneurship should be closely combined， the corresponding realization method should be incorporated into the decision-making framework in the selection of innovative business， the role of entrepreneurs as “guides” should be further emphasized， and the corporate culture conducive to innovation and entrepreneurship should be fostered.

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Royalstar Groupenterprise strategic transformation / innovation / entrepreneurship / Royalstar Group

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QIAN Yan-Wen, GU Yuan-Xun. Strategic Transformation of Enterprises Based on Symbiosis of Innovation and Entrepreneurship： Case Analysis on Royalstar Group ‘Double Innovation Model’[J]. Journal of Beijing Jiaotong University（Social Sciences Edition）. 2023, 22(1): 114-122

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