How can private enterprises grow from small to large?
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In recent years, private enterprises have achieved remarkable achievements. However, the congenital defects of small and medium-sized private enterprises have also restricted the sustainable development of many enterprises. There are not many private enterprises that are bigger and stronger. The author believes that small and medium-sized private enterprises must improve from four aspects: institutional innovation, management innovation, technological innovation and entrepreneurial capability innovation. Institutional Innovation: Changing “unilateral governance†to “bilateral governance†The original enterprise system of small and medium-sized private enterprises is generally characterized by “unilateral governanceâ€. Whether it is the property rights relationship, the governance structure or the organizational framework design, it is based on the capital power, and the enterprise is under the absolute control of the non-human capital owner. The so-called "bilateral governance" structure means that the enterprise is jointly governed by the non-human capital owner and the owner of the human capital. The characteristic is that the owners of the various elements act as equal trading entities, sharing the control of the enterprise through voluntary contracts. . For example, some private enterprises may employ professional managers with rich management experience to join the core management team that is originally controlled by family members, entrust the management and management power to professional managers, and use stocks or stock options to motivate them. The bilateral governance structure is committed to giving full play to the effectiveness of human capital, which is becoming more and more important today as companies become more dependent on knowledge. The transaction cost school interprets the enterprise as a market contract concluded by various resource owners, and the enterprise is an organization that saves transaction costs in the market. The various resource owners mentioned by Coase et al. obviously do not only refer to the holders of the shares, but to various stakeholders within the enterprise. Contracts voluntarily concluded by various resource owners within the company can save transaction costs, or increase market efficiency. Therefore, small and medium-sized private enterprises should explore the establishment of a stakeholder-oriented property rights relationship, that is, the ownership, control or residual claims of property are distributed among stakeholders. This distribution occurs primarily among stakeholders within the company, but does not rule out that some companies will take external stakeholders into consideration. Management innovation: Changing the experience management into a scientific management enterprise's family management mode makes the enterprise have obvious individual characteristics and strong dependence on the environment. The ability of enterprises to adapt to environmental changes is weak, which is the focus of private enterprise management innovation. First, attach importance to strategic management. Faced with the competitive landscape in the era of knowledge economy, small and medium-sized private enterprises must have a strategic vision. Under the conditions of meeting and guaranteeing the mission of the enterprise, on the basis of making full use of the various opportunities existing in the market, they should make overall plans for their own actions and establish enterprises. The relationship with the environment stipulates the scope of business, growth direction and competitive countermeasures of the company, rationally adjusts the internal mechanism of the enterprise, and optimizes the resource allocation of the enterprise. The second is to establish a collective decision-making mechanism and an expert consultation mechanism. Collective decision-making and expert consultation are not only conducive to the scientific and operability of decision-making, but also conducive to mobilizing the enthusiasm of senior executives, strengthening the sense of identity of enterprises, and helping to strengthen the cohesiveness of enterprises. The third is to adopt a professional manager system. Enterprise management is a career with both theoretical and technical skills. It is an "elite profession". It must be managed by personnel with management, technology, human resources, marketing and other professional knowledge to effectively integrate each Resources to continuously increase resources and improve the competitiveness of enterprises. The fourth is to implement humanistic management. An important feature of modern enterprise management is to pay attention to the role of people and implement people-oriented management. A successful company is not only capable of attracting talents, stabilizing talents, but more importantly, continuously creating talents. To this end, private enterprises should put the training of talents in an important position, establish a complete education and training system, and realize the institutionalization of education and training. At the same time, we must pay attention to the incentives for people. Technological innovation: transforming traditional industries with high technology The behavior of enterprises in the market today is convergent, and the competition among enterprises is mostly low-level price competition. If a company can continuously innovate its products and produce products that are irreplaceable and non-imposability, then the company can obtain temporary monopoly rights due to innovation and obtain excess returns, namely “Schumpeter rentâ€. Moreover, the added value of products produced through technological innovation is high, and once developed successfully, the enterprise can grow geometrically. Most of the fields that private enterprises engage in are in the traditional industries, and China will mainly develop traditional industries in the future. One of the advantages of China's small and medium-sized private enterprises in the international market competition is that the labor force is relatively cheap. Therefore, small and medium-sized enterprises should use high technology to transform traditional industries, so that traditional industries rely on the power of new technologies to take off. On the one hand, relying on technology to promote product replacement. On the other hand, the technological transformation of the traditional industry is the deep processing of products, changing the functions of products through deep processing, opening up new markets and extending the product life cycle. The technological innovation of small and medium-sized private enterprises must start from the market demand. This requires private entrepreneurs to have a keen market vision, establish a market research team and master scientific market research methods, and make timely and appropriate technological innovation decisions. In the operational stage of technological innovation, it is necessary to establish an incentive mechanism for scientific and technological personnel, and apply for patents in a timely manner to strengthen protection for itself. In the commodification stage, attention should be paid to the improvement of technology and the training of marketing teams. At the same time, after the technology reaches maturity, technology transfer will be carried out in a timely manner. This can reduce the losses caused by the imitation of competitors in the current situation of insufficient protection of intellectual property rights in China. Entrepreneurial Capability Innovation: The “three-type†transformation begins with the transition from “imitation†to “innovationâ€. Today, with rapid economic development and fierce market competition, the troubles and traps caused by universal and massive imitation can be seen everywhere. It is necessary to accelerate the transformation of entrepreneurial ability from imitation to innovation, that is, to become unconscious and instinctively imitate as conscious and scientific independent innovation. Second, the transition from “tactical†to “strategicâ€. Private entrepreneurs generally have low scientific and cultural literacy and the concept is lagging behind. Therefore, enterprise transformation must accelerate the transformation of private entrepreneurs' ability from tactical to strategic, that is, to greatly enhance entrepreneurial strategic capabilities, that is, to integrate internal and external competitive environments, establish long-term development goals, select business types and scope, and obtain The ability to compete for winning. Third, the transition from “one type†to “common typeâ€. That is, it is necessary to upgrade from utilitarian values ​​to mission values, to overcome the individual or family business philosophy, to establish ideals and beliefs; to strengthen institutional development, to build a harmonious relationship between bosses and employees with fairness and justice; to cultivate civic awareness, to change roles and Identity, change the business boss to organize employees; change individual heroism for teamwork.