H公司多元化发展路径选择策略研究
研究生姓名：吉鸿
导师姓名：施建军
学科：工商管理
研究方向：组织与战略管理
年级：2020
中文摘要
多元化战略是公司发展到一定规模之后，为保持增量而采取的一种激进的
扩张性发展途径。公司在具备何种条件，处于什么样的窗口期，可以实施多元
化战略。实施多元化战略，有哪些动因与风险。当风险出现时，如何进行有效
控制。如何进行多元化战略路径的选择，避免因路径选择错误而导致企业无序
发展、走向衰亡。这些问题长期困扰着不少企业决策者。对这些问题的研究，
正是探讨存在的现实意义。
H公司为一家建筑机电工程专业施工管理企业，经过长达15年的发展，已
初具规模。但是，受宏观政策影响，房地产业及建筑业近年来有所收缩，公司
发展遭遇瓶颈期。在经过多次试错的基础上，公司充分利用现有资源，结合相
关产业政策与市场需求，在聚焦主业的基础上，实施多元化战略，并且取得了
一定的成果。
本文以H公司为研究对象，以企业战略管理理论为依据，首先就选题背景
和研究意义做了介绍，对战略管理理论及常用战略分析工具做了梳理，对国内
外研究文献及现状做了整理和分析。接着对H公司实际所处的内部环境和外部
环境进行分析，通过VRIO模型、PEST分析及五力模型等分析工具的运用，就H
公司所具有的资源与能力优势和劣势，发展所面临的机遇与挑战等，进行了充
分的分析和评价。在上述基础之上，通过对公司实施多元化战略项目选择因素、
平台合作因素以及多元化合作方式等进行了阐述，并且通过对多元化战略实施
的路径做了实际探讨，提出了利用蒙特卡洛模拟法计算到期期权，结合VRIO模
型对所投项目进行分析，判断其资源与能力的竞争优势，从而，得出项目投资
的偏离度，作为公司多元化路径选择的依据，说明该方案对于H公司实施多元
化战略具有一定的可行性。最终从人力资源、财务资源、物资资源、组织策略
及创新策略等方面对公司的发展战略提出了对策与建议，以期帮助公司进一步
提升企业的综合竞争能力，能够对公司的长期发展提供现实指导意义。
关键词：建筑业；资源分析；多元化；对赌协议；发展战略
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Research on strategy of
diversified development path selection of company H
Graduate student: Hong Ji
Supervisor: Business Administration
Major:Jian jun Shi
Research direction: Organizational and strategic management
Grate: 2020
Abstract
As we all know, when company’s scale grows to a certain extent, entrepreneurs
always take a relative radical and expansive development approach what is named as
diversification strategy to keep an incremental growing. However, what the condition
and what kind of window period does company implement the diversification strategy,
what the motives and risks do entrepreneur take. How to effectively control When
risks arise. how to choose the way of diversification strategy and prevent companies
from developing disorderly to bankrupt because of mistakenly choosing the way of
diversification strategy, which occupied several decision-maker’s minds for a long
time. It is of practical significance for this paper to research the above-mentioned
problems.
Company H is a construction management enterprise specialized in construction
mechanical and electrical engineering. After 15 years of development，it has begun
to take shape. However, under the influence of macro policies, the real estate industry
and construction industry have contracted in recent years, and the development of the
company has encountereda bottleneck. After severaltrials, the company has
implemented diversification strategy through using existing resources.The new
diversification strategy combines with the relevant industrial policies and market
demand, and leads the company H to achieve some progress.
This paper takes company H as a research subject, and the main idea is founded
on the theory of business strategy management. Firstly, this paper introduces the
background of subject selection and the meaningfulness of research, cards the theory
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of strategy management and common tools of strategy analysis, and sorts out the
domestic and foreign literatures and present research situation. Secondly, the paper
analyzes internal and external competitive circumstances faced by company H,
applies VIRO model, PEST model and the model of Porter's Five Forces to study and
assess the advantages and disadvantages of resource and ability, the opportunities, and
threats of development of company H. Based on the prepared research works, this
paper illustrates the selection factors of implementing diversification strategy, the
factors of platform cooperation and diversified ways of collaboration, investigates the
method of quantitative models taking diversification strategy to propose a detailed
schema, This paper proposes to use the Monte Carlo simulation method to calculate
the expiry options, combing the VRIO model to analyze the invested projects, and
judge the competitive advantage of their resources and capabilities. Therefore, it
derives the deviation of the project investment as the basis for the company's
diversification path selection. which is plausible for implementation of company H’s
diversification strategy. Last but not the least, the paper takes the aspects of human
resources, financialresources, material resources, organizationalstrategies, and
innovative strategies to give the solutions and advices, which is beneficial for
companies to enhance the corporate comprehensive competitiveness and is instructive
for company’s long-term development.
Keywords: architecture; resource analysis; diversification strategy; VAM agreement；
development strategy.
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