英文摘要 |
To answer the question of how small late entrants with weak capabilities and scarce resources overtake leading firms in emerging markets, this study investigates Chinese Shanzhai mobile phone players through secondary data, firm interviews, and channel observation. The results of this study not only help extend Christensen's theory of disruptive innovation but allow us to reveal the secrets behind the success of late entrants and provide other aspiring emerging-market new entrants with a framework for devising winning innovation strategies. This study identifies three key success factors to the rapid and steady rise of Shanzhai players, i.e. launching quick market tests, reducing everything unnecessary, and integrating resources flexibly. First of all, instead of relying on market forecasts subjectively conjectured by firm executives, these players ensured accurate capture of consumer needs of an extremely fluid emerging market through quick test-and-learns. Secondly, these players successfully improved the price-performance ratios of their products by reducing the unnecessary to save costs on all fronts, e.g. materials, sourcing, product certification, taxation, management, distribution, and marketing. Thirdly, given their lack of resources and capabilities, these players reached out beyond their firm boundaries to integrate resources flexibly in order to achieve the firm's strategic goals. In other words, testing, reduction, and integration are the key competences that define Shanzhai players' ability to adapt to the constantly changing environment of emerging markets. |