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Mathematical Problems in Engineering
Volume 2017 (2017), Article ID 3807912, 14 pages
https://doi.org/10.1155/2017/3807912
Research Article

Strategic Adjustment Capacity, Sustained Competitive Advantage, and Firm Performance: An Evolutionary Perspective on Bird Flocking and Firm Competition

School of Business, Hunan University, No. 11 Lushan Road (South), Changsha City, Hunan Province 410082, China

Correspondence should be addressed to Shiyuan Wu; nc.ude.unh@ysw

Received 9 February 2017; Accepted 9 May 2017; Published 19 June 2017

Academic Editor: Yakov Strelniker

Copyright © 2017 Shou Chen et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

Imitating the positioning rules in the bird flocking system, the strategic adjustment capacity is decomposed into three aspects, which are the organizational learning capacity from the top firms, the extent to which firms maintain or rely on the best operational capacity vector in history, and the ability to overcome the disadvantage while maintaining the advantage of the operational capacity vector from the previous years, respectively. Financial vectors are constructed to represent the results of corporate strategic adjustment and listed firms in the China A stock are chosen as the samples. As empirical analysis reveals, there is a positive correlation between the organizational learning capacity from the top firms and the firm performance and a U-shaped relation between the learning capability from the previous best operational capacity vector and the firm performance. However, no significant correlation between the inertia control ability of the current operational capacity vector of the firms and their performance improvement can be observed. This study verifies that the issue of corporate competitiveness and performance can be investigated by utilizing the principles of competition in nature. Moreover, a firm can obtain a sustainable competitive advantage by improving its ability to learn from top firms in the industry.