Enterprise Strategy Research Articles

New marketing strategy model of E-commerce enterprises in the era of digital economy

With the continuous development of technology, traditional marketing methods no longer meet the needs of the main forces of social consumption, and people urgently need more innovative and personalized marketing strategies. E-commerce companies must develop a comprehensive customer-oriented marketing strategy based on big data and multi-channel to achieve their long-term healthy development. This paper first investigated the impact of the digital economy on e-commerce enterprises, focused on the transformation of the digital economy on the marketing model, expounded the development analysis of e-commerce in the digital economy era, and described the development trend of e-commerce marketing in the digital economy era. Then, this paper expounded the current problems faced by e-commerce enterprises, and discussed the lack of integrity, homogeneity, large-scale marketing strategies, and the lack of analysis and application of big data. After that, this paper put forward the marketing strategy of e-commerce enterprises in the digital economy era, and studied it from three aspects, namely, building a reasonable product management structure, marketing strategy based on customized marketing content, and social media marketing strategy based on information sharing. Then this paper proposed to use genetic algorithm to strengthen the marketing strategy of e-commerce enterprises. Finally, based on experiments and surveys, this paper used genetic algorithms to strengthen the construction of e-commerce enterprise marketing strategy in the digital economy, and concluded that the new e-commerce enterprise marketing strategy was 21% more satisfactory than the traditional new e-commerce enterprise marketing strategy. Through comparison, it can see that the integrity of the marketing plan of the new e-commerce enterprise's marketing strategy was 0.33 higher than that of the traditional e-commerce enterprise's marketing strategy, and the integrity of the promotion strategy was 0.34 higher than that of the traditional e-commerce enterprise's marketing strategy. After using the new e-commerce enterprise marketing strategy, the improved management structure was 0.29 higher than that of the traditional monitoring system, and the high quality of products was 0.18 higher than that of the traditional system.

STRATEGIC PLANNING FOR THE CORPORATE ENTERPRISE'S INTEGRATIVE DEVELOPMENT

This article is dedicated to the systematization of theoretical positions and the development of approaches concerning the strategic planning of integrative development for corporate enterprises. It identifies the role and place of integrative strategy (as a set of strategic decisions determining the type and depth of interaction between the enterprise and other business entities or their associations) within the strategic planning system of corporate development. It establishes that the main provisions of the integrative strategy of a corporate enterprise should stem from and be fully aligned with other aspects of strategic development planning. The formation of an integrative strategy for a corporate enterprise is proven to be an integral element in reducing uncertainty and risks during the processes of integrative-type development. This paper substantiates the approach to the sequence of forming an integrative strategy for a corporate enterprise and defines the nature of strategic decisions, which play a pivotal role in ensuring further sustainable development of the business through the implementation of integrative interaction projects (entry into new markets; achieving a monopolistic position in the market; obtaining economies of scale; necessity for complementing or improving existing technologies; cost savings on expensive product development and creation; reduction of costs through the expansion of the supplier or distribution network; need to reduce risks). It establishes the prerequisites for justifying strategic plans for integrative processes, which include the following elements: a complex of desired qualitative and quantitative parameters of the corporate enterprise, the achievement of which is the goal of the overall corporate strategy; principles, rules, and norms for aligning the interests of participants in integrative processes; methods and forms of regulation predominantly used in the implementation of an integrative strategy; principles, rules, and norms for selecting sources of financing for integrative development; principles, rules, and standards for determining partners to form a corporate integrative association. Keywords: integration, integrative strategy, integrative development, corporate enterprise, strategic planning, corporate integrative association.

STUDY OF THE STATE AND FUNCTIONING ENVIRONMENT OF MUNICIPAL THERMAL ENERGY ENTERPRISES OF THE HOUSING AND COMMUNAL INDUSTRY OF UKRAINE

Goal. Analysis of the state and research of the main trends in the development of the housing and communal industry of Ukraine on the example of communal heat energy enterprises to outline the main priorities of its development. Method. To achieve the goal, general scientific and special methods were used: analysis and synthesis, statistical methods of comparison, grouping, graphic method and others. The results. The structure, intensity of dynamics and development trends of sub-sectors of the housing and communal industry of Ukraine were studied. It was determined that the profitability of the operational activity of enterprises in the housing and communal sector of the economy of Ukraine is unprofitable starting from 2020; the largest and consistently negative value of the profitability indicator is demonstrated by the activity of heat energy enterprises against the background of the growth in the volume of sales of household appliances. It was determined that if the identified trend is maintained, the volume of realization of communal services will amount to UAH 2,294±231 billion in 2024, of which UAH 121±9 billion. will belong to heat energy enterprises. On the basis of the conducted analysis, the expediency of introducing additional detailing of the data of official statistics of the structural survey of the activities of enterprises in terms of types of ownership according to the KOPFG has been proven. Scientific novelty. A clarification of the conceptual apparatus and a methodological approach to the analysis of the state of enterprises in the housing and communal industry of Ukraine are proposed. The need to expand statistical data for evaluating the competitive environment of municipal heat energy enterprises is substantiated. Practical significance. The results of the research consist in the possibility of practical use of the mentioned approach to evaluate the activity and development strategy of communal heat energy enterprises.

ANALYSIS AND EVALUATION OF CORPORATE GOVERNANCE QUALITY IN ENTERPRISES

Purpose. To examine the theoretical and methodological foundations of the concept of corporate governance quality in enterprises and their application. Generalization of the theoretical approach to formulating the essence of corporate governance and its quality. Examination of quality assessment methods. Analysis of indicators characterizing the quality of corporate governance. Formulation of measures to improve the quality of corporate governance. Methodology. The research methods included: analysis and synthesis - in substantiating the essence of corporate governance and formulating its structural components; graphical method - in presenting visual analysis results; logical generalization method - in analyzing theoretical approaches to organizing corporate governance. Results. This paper examined the concept, structure, and types of corporate governance. Key elements and approaches to its definition were considered. The process of implementing enterprise strategy was examined. Generalized studies on the quality of corporate governance were reviewed. A rating assessment of corporate governance quality was formulated. Preconditions for the formation of corporate conflicts among key participant groups were examined. A rating assessment of the potential for resolving and preventing corporate conflicts was discussed. An assessment of corporate governance rating was developed, including a component that evaluates the subjective composition of corporate relationship participants. Scientific novelty. Lies in the analysis of enterprise activities and calculation of a possible option to increase the corporate governance quality rating of the enterprise. Practical significance. The paper contains practical recommendations aimed at improving the existing mechanism for assessing the quality of corporate governance in enterprises.

Familiness and Business Strategy: Unraveling the Moderating Effect of Familiness on Performance in Family Firms

Existing literature has examined several viewpoints in the field of family business research. Nevertheless, the correlation between strategy and performance in family enterprises has not been extensively studied. Furthermore, the extent to which family influence impacts the link between strategy and performance is not well-defined. The distinguishing factor between family businesses and non-family businesses is the concept of familiness, which refers to the unique qualities and talents that stem from family influence. The current body of research focuses on examining the moderating influence of familiness on the link between strategy and performance in family businesses. This study focuses on examining the impact of business strategy on the development of exceptional performance in family firms. Additionally, it investigates if familiness has a moderating function in this connection. This study aims to conduct an empirical analysis of the connection between strategy and performance in family-owned businesses. Additionally, it seeks to investigate the influence of familiness as a moderating factor in this relationship. The research population consists of individuals who own or manage family businesses. A total of 203 owners/managers were chosen using a simple random sample method from the family businesses located in Multan. Data were obtained using a cross-sectional survey, and the hypothetico-deductive technique was employed in the research design. Partial least squares structural equation modeling (PLS-SEM) was utilized for assessing data. The research findings suggest a direct correlation between familiness and the performance of family businesses. The results also reveal that familiness moderates the association between family business strategy and family company performance. The findings of this research have crucial significance for family company owners/managers by underlining the fact that family business strategy’s influence on family business performance may be strengthened by concentrating on the aspects of familiness; power, experience, and culture. This research also contributes to the family business literature by evaluating the moderating influence of familiness on the strategy-performance relationship in a family company setting.

The importance of green human capital in green logistic processes in Polish enterprises

Due to the high market dynamics, economic and environmental, constantly growing and changing customer needs, each organization is looking for new solutions related to the technology of goods flow, process optimization, aimed at both improving the quality of products and improving their production processes towards reducing their impact on the natural environment. In this context, Green Human Resources (GHR) may become a key factor in the success of greenlogistics (GL), because the success of the company depends in particular on the actions of employees, their knowledge, skills and their use and awareness. Therefore, the goalof the research was to check how the method of managing green human capital influences changes in the functioning of enterprises in selected areas related to the course and quality of logistics processes (including in terms of GL). As research shows, companies use GHR to promote behaviors among employees that increase the ecological efficiency of the entire company, but their share is still negligible. The study was conducted using an electronic survey questionnaire on a group of 200 enterprises. The conducted research showed the relationship between the importance of individual elements of human capital in enterprise strategies and changes in the functioning of enterprises in selected areas related to the course and quality of logistics processes. The following components had the greatest impact on the studied effects: human capital: knowledge, personal and social skills, interpersonal relations and psychological characteristics of employees.

Challenges faced by CEOs in executing turnaround strategies in state-owned enterprises in South Africa

Purpose: Building on theories of the firm, this research examines the challenges faced by chief executive officers (CEOs) in executing a turnaround strategy in the state-owned enterprises (SOEs) in South Africa.Design/methodology/approach: This is a qualitative study conducted within 10 of the 21 SOEs classified as Schedule 2 (major public institutions) in the Public Finance Management Act (PFMA) that previously embarked on a turnaround. The study comprised 24 semi-structured interviews with CEOs, chief financial officers (CFOs), chief operating officers (COOs), boards, union representatives, regulators, and shareholders as the key players in a turnaround of a SOE. Thematic analysis was used to analyse data.Findings/results: This research suggests that political landscape and power struggles, inappropriate practices of board, politicians and shareholders, inefficient internal operations, leadership instability, legislation and corporate governance hinder the execution of turnaround strategies in the SOEs. This research is consistent with public choice, agency and resource dependence theories.Practical implications: State-owned enterprises need to be free from political interference to be able to turn around. Government, board, shareholders, communities, regulators, service providers and unions need to relook at how they portray the CEOs of SOEs, and rethink how they deal with them.Originality/value: This research contributes to policy, theory, practice, economy and society by expanding the theories of the firm, capturing real-life challenges the CEOs of SOEs face in executing a turnaround strategy and solutions to tackle the challenges. A roadmap to assist SOEs in executing a turnaround strategy successfully is recommended.

Research on Green Design Strategy of Electrical and Electronic Manufacturing Enterprises Based on the Perspective of Tripartite Evolutionary Game

Green design emphasizes the environmental attributes of the product life cycle, which can prevent environmental pollution at the source and reduce resource consumption. Based on the evolutionary game theory, this paper constructs a tripartite game model between “government-electrical and electronic manufacturing companies-consumers”, explores the influence of participants’ strategic choices and parameters on the evolutionary behavior of the three parties in different situations, and uses Matlab software to conduct numerical simulation analysis. Simulation analysis is the process of simulating real-world events and system behavior through computer models to assess, validate, and predict their performance and response. The research results show that the strategic choices of the three parties influence each other and government supervision and green consumption are conducive to incentivizing manufacturing companies to carry out green design. Consumer green preferences, environmental tax rates, corporate recycling revenue, and increases in consumer recycling revenue are all conducive to product design. Compared to environmental taxes, corporate subsidy policies have a greater impact on the behavior of the government, manufacturing companies, and consumers. Compared to consumer subsidies, corporate subsidy policies have a more significant effect on the behavior of governments and manufacturing companies, while for consumers, the opposite is true.

СТРАТЕГІЧНЕ УПРАВЛІННЯ ІНВЕСТИЦІЙНОЮ ДІЯЛЬНІСТЮ НА ПІДПРИЄМСТВАХ З ПЕРЕРОБКИ ТВЕРДИХ ПОБУТОВИХ ВІДХОДІВ

The article demonstrates that Ukraine faces significant challenges in the management of solid household waste. These issues include the absence of a clear waste disposal strategy and insufficient attention to environmental safety. Most landfills in Ukraine fail to meet safety standards and environmental norms, posing a threat to the surrounding environment. Effective resolution of these problems involves the implementation of advanced solid household waste processing technologies and the improvement of waste management systems to ensure sustainable resource utilization and reduce negative environmental impact. The prospects for the development of enterprises involved in solid household waste processing are discussed, including societal awareness of environmental pollution issues and the need for protection, legislative initiatives aimed at reducing waste volumes, and technological progress enabling the creation of new products from recycled waste while minimizing environmental impact. It is argued that the development of this sector can stimulate investments and contribute to the creation of new jobs in the environmental economy. It is argued that effective strategic management of investment activities in enterprises dealing with solid household waste processing is a crucial factor in their successful development and achieving competitive advantage in the market. It is demonstrated that based on the analysis of the enterprise’s needs and opportunities, an investment strategy should be developed to align with strategic goals and enhance its competitiveness. This strategy involves optimal resource utilization to ensure sustainable development and maximize financial results. The main stages of developing and implementing the investment management strategy in enterprises dealing with solid household waste processing include market and needs analysis, selection of investment directions, evaluation of investment projects, development of an investment plan, implementation of investment projects, monitoring and control, evaluation of results, and strategy adjustment. It is proposed that for maximum effectiveness, these stages of the strategy should be implemented comprehensively.

ДЕЯКІ АСПЕКТИ СТРАТЕГІЧНОГО УПРАВЛІННЯ ІННОВАЦІЙНИМ РОЗВИТКОМ ПРОМИСЛОВИХ ПІДПРИЄМСТВ У КОНТЕКСТІ ДІДЖИТАЛІЗАЦІЇ

The article describes methodical approaches to the formation of the strategy of innovative development of industrial enterprises based on the Burennikova (Polishchuk)-Yarmolenko component effectiveness models, which are based on the characteristics of the category of effectiveness of any process (including the process of innovative development) using the category of effectiveness of the process as a combination its scale – the quantitative component and efficiency – the qualitative component. The purpose of the article is to reveal approaches to the formation of the innovative development strategy of industrial enterprises as micro-level systems in the context of management based on indicators of the effectiveness of the components of the innovative development process using SEE analysis as part of the SEE management mechanism in the context of digitalization. It is emphasized that the implementation of the SEE-management algorithm is based on a certain mechanism, which contains SEE-analysis and other tools, which, along with the known characteristics, cover a set of indicators of the components of the effectiveness of the innovative development process. The SEE-analysis of the process of innovative development of industrial enterprises as complex systems at the micro level means the analysis of the effectiveness of this process on the basis of the above-mentioned models and their indicators. It was determined that the proposed methodology, thanks to SEE-management, can contribute to the adoption of scientifically based management decisions regarding the innovative development of enterprises, including in the context of digitalization. A refined definition of the definition "digitalization" is given. It is believed that the use of a system of indicators in the models of the components of the effectiveness of the innovation development process will make it possible to implement in practice a comprehensive approach to the analytical, prognostic and other components of management (in particular, SEE-management) of the innovative development of industrial enterprises, starting with making a decision about the feasibility of innovations and ending with evaluation effectiveness of the innovative development process.

An Analysis on the High-Quality Development Path of Sports Tourism Industry in Shandong Province from the Perspective of Porter Rhomboid Theory

From the perspective of Porter's diamond theory, this paper analyzes the four basic elements of sports tourism in Shandong Province, namely resource elements, demand conditions, related industries and enterprise strategy, as well as the two role elements of opportunity and government, and finds that there are problems such as rich resources but unbalanced distribution of sports tourism in Shandong Province. Based on this, the author puts forward some development paths, such as increasing the mining and publicity of traditional resources, emphasizing the training of sports talents, stimulating the domestic demand of sports tourism, promoting the integration of sports tourism industry with other industries, improving laws and regulations, and strengthening the macro-guidance of the government, in order to provide certain theoretical references for the healthy, sustained and high-quality development of sports tourism industry in Shandong Province.

Occupational accidents in Slovak Military Forests and Estates: incidence, timing, and trends over 10 years.

Forestry provides a wide range of employment opportunities worldwide and is seen as one of the high-risk industries in terms of occupational accidents. The submitted study analyzed the injury rate in the Military Forests and Estates of the Slovak Republic (62.6 thousand ha) between 2013 and 2022. The data analyses included regression and correlation analyses, χ2 tests to analyze the relationships between studied variables, and incidence rates. During the observed period, employees suffered 26 occupational accidents, of which 19.2% were light, 57.7% were registered, 23.1% were severe, and 0% were fatal. For every 1 million m3 of harvested timber, 7.7 accidents occurred. The incidence rate during the observed period was 672.1/100,000 employees. The highest proportion of accidents was in the age group 51-60 years and in employees with the lowest length of work experience <5 years. Regarding time, the highest proportion of occupational accidents occurred between 8:01 and 10:00 AM (53.8%) and day-wise on Thursdays (46.2%). The highest proportion of accidents occurred among forest workers (65.3%) during pruning and silviculture activities (42.3%). The most common injury site was forest stands (65.3%). Superficial injuries (34.6%) were the most common, mainly affecting the lower limbs (50%). The most frequent material agents causing the accidents were work and transport areas as sources of worker fall (38.5%), and the most frequent reason for an accident to occur was the lack of personal requirements for proper work performance (92.4%), whereas only (3.8%) of accidents occurred due to the use of forbidden or hazardous working procedures. The presented study identified the most vulnerable worker groups and provided an overview of the overall injury rate at the state forest company in Slovakia. The documentation can be incorporated into the safety strategies of forest enterprises.

Evaluating Performance Measurement Metrics for Lean and Agile Supply Chain Strategies in Large Enterprises

Previous research has identified metrics that are applicable to both lean and agile strategies and has hypothesised that financial and efficiency metrics are more relevant to the lean supply chain strategy, while customer service and flexibility metrics are more relevant to the agile supply chain strategy. These metrics need to be assessed empirically to confirm their relevance and validate these hypotheses. Drawing upon contingency theory, which mandates that supply chain performance metrics should vary based on the supply chain strategy, the research methodology resulted in developing a survey instrument that has been subsequently tested in 45 large enterprises and analysed by Partial Least Square-Path Modelling using XLSTAT software v.2020.4. The results support the existing beliefs and suggest that financial and efficiency indicator sets are more applicable to the lean supply chain strategy, whereas customer service and flexibility indicator sets are more pertinent to the agile supply chain strategy. This research distinguishes itself, through its novelty, in validating an adaptable framework for supply chain performance metrics, acknowledging the necessity of developing a suitable supply chain performance system. Ultimately, the findings of this research might serve as an initial foundation for practitioners in shaping the design of supply chain performance systems since the strong relationship between SC strategies and specific metrics may serve as a strategic approach to evaluate and improve performance.

Product Marketing Strategy For Micro, Small and Medium Enterprises

This research was conducted to find out about how the comparison or advantages between conventional and sharia marketing strategies in MSME players. This research uses the Systematic Literature Review method. This research procedure has 4 stages consisting of identification, screening, eligibility, and inclusion. The literature in this study comes from several journals from Google Scholar. After searching for articles with a range of 2011 to 2023, there were 20 articles that discussed the Marketing Strategy of MSME Products. The purpose of the marketing strategy is to facilitate MSME players in Indonesia. Highlights : Conventional vs. Sharia Marketing: Understand the comparative advantages. Systematic Literature Review: Methodology for comprehensive analysis. Impact on MSMEs: Enhancing accessibility and effectiveness of marketing strategies. Keywords : Conventional marketing, Sharia marketing, MSME players, Systematic Literature Review, Product

Exploring digital marketing strategies in small-sized enterprises in Vietnam

Digital Marketing Strategies (DMSs) play a crucial role in determining the success of an enterprise. However, little research has been conducted on digital marketing strategies for small-sized enterprises in Vietnam. Thus, using a case-study design, the study explores marketing employees’ perceptions of digital marketing strategies at a small-sized enterprise, Tan Viet Phap Development Trading Production Joint Stock Company. Four employees (two females and two males) were invited to participate in the in-depth interview. The findings show that the most effective digital marketing strategy is online PR. The participants expressed positive attitudes toward digital marketing strategies and pointed out some challenges related to these strategies. They suggested that the company should emphasize the importance of customers and planning when implementing digital marketing strategies. The study has practical implications for small-sized businesses to profit from available digital marketing strategies and consider important marketing factors to enhance their company’s publicity and brand.

Re-examining the quality management and firm performance relationships: meta-analytical investigation on moderating effects of national culture differences

PurposeIn the last 3 decades, organization-wide programs and practices based on the Total Quality Management (TQM) philosophy have become central to continuous improvement (CI) strategy in both public and private enterprises. However, there is paradoxical evidence of TQM-firm performance linkage in non-Japanese contexts. This study presents a meta-analysis of empirical research on TQM-firm performance linkage and investigates the moderating influence of national cultural (NC) values on this relationship.Design/methodology/approachMeta-analytical procedures are adopted to analyse 364 effects accumulated from 135 independent samples across 31 nations, for 30,015 firm observations. Additionally, weighted least square (WLS) meta-regression is used to test the moderation effects of four NC dimensions based on the Global Leadership and Organizational Behavior Effectiveness (GLOBE) model.FindingsThe meta-analysis results reveal that the strengths of the association varied across five soft and hard TQM dimensions and three firm performance dimensions Meta-regression indicate that the effectiveness of the TQM program is high in cultures which reward collectivist behaviours, equity of power distribution and avoidance of ambiguity in rules/structures.Originality/valueThe study contributes to international operational management theory on cultural influences on the effectiveness of operations strategies and decisions.

Efficiency of investment activity in the dairy subcomplex

The article presents the results related to the evaluation of the effectiveness of investment activities in the dairy subcomplex. It is established that investments are an important component of the economic development of the dairy subcomplex, the effectiveness of which depends on a set of factors of the macro- and microeconomic environment, its organizational and economic characteristics, the investment strategy of enterprises, objects and sources of investment, the period for which capital is invested, the certainty of its future effect and the associated risk level. It was found out that in the conditions of low competitiveness of dairy subcomplex enterprises, there is a need to use effective investment projects, which significantly strengthened the role of investment efficiency analysis as a tool within which it is possible to justify, evaluate and select priority investment projects. It is determined that the task of analyzing the effectiveness of investments is the calculation of profits and cash flows, the assessment of their effectiveness, the identification of the influence of uncertainty factors on their profitability, the selection of optimal investment projects. It is advisable to organize the analysis of the effectiveness of investments in the following areas: the definition of subjects and objects of analysis; the choice of organizational forms of analysis, depending on the organizational structure and the distribution of responsibilities between individual performers; the preparation of the analysis program and its information support; analytical data processing, design and generalization of the analysis results. The proposed methodological approach to the analysis of investment efficiency takes into account the conditions of an unstable market environment (variable macroeconomic conditions, insufficient supply of dairy raw materials, uncertainty about wholesale purchase and sale prices), makes it possible to determine the effectiveness of investments, conduct risk analysis by simulation and predict data for risk analysis using regression methods.

Examining the Sustainability Strategies of Knowledge-Based Sports Enterprises Using the Three Branch Paradigm

Sustaining knowledge-based enterprises is a crucial aspect of entrepreneurship. The current research aims to rank the sustainability strategies of knowledge-based sports enterprises in the industry using the three branch theory. The research is a descriptive analysis and field study. The population consisted of experienced managers from leading knowledge-based sports enterprises. 14 individuals were chosen as the research sample via snowball selection. The research questionnaire consisted of a researcher-developed survey. The questionnaire was created as a strategy matrix with three branches and utilized the TOPSIS approach. Sustainability strategies of knowledge-based enterprises in the sports industry were identified by utilizing theoretical underpinnings from research and expert opinions. The researcher identified strategies from articles and finalized them by consulting an expert team. 10 solutions for ensuring the sustainability of knowledge-based sports enterprises were identified and finalized in this research. The TOPSIS technique was utilized to select the optimal strategy for ensuring the sustainability of knowledge-based enterprises in the sports industry. The research data analysis method was exclusively conducted utilizing TOPSIS. The research results indicated that the most significant factor, with a coefficient of 0.6736, is the reform of the tender and transaction system and the elimination of complex regulations related to the development of sports-based knowledge enterprises. DOI: https://doi.org/10.52783/pst.239

Strategies for Chinese Enterprises to Overcome Investment Obstacles in Kazakhstan in the New Era

In the new era, Kazakhstan's successful accession to the WTO, the introduction of new economic policies such as the "Bright Path" and the 2050 Strategy, and China's proposal for the construction of the "Silk Road Economic Belt" have drawn significant attention from investment enterprises of both countries. Undoubtedly, these developments provide opportunities for Chinese enterprises investing in Kazakhstan. However, in the process of investment, Chinese enterprises in the new era also encounter obstacles such as the underdeveloped infrastructure in Kazakhstan, strict foreign exchange controls, weak financial risk resistance, overly concentrated investment areas, and competition pressure from well-established enterprises in developed countries. Finally, strategies are proposed for Chinese enterprises in the new era to address these obstacles.

Environmental, social and governance performance and green transformation strategies for enterprises: Improving technical efficiency or expanding technological boundaries.

Under the ongoing implementation of the "dual carbon" goal, research has focused on the impact of Environmental, Social, and Governance (ESG) initiatives on green innovation. However, few studies have analyzed in depth the mechanisms of ESG impact on green total factor productivity (green TFP). Here, we explored the impact of ESG performance on green TFP, green technical efficiency, and green technological progress using A-share listed companies in China's Shanghai and Shenzhen stock markets from 2011 to 2021. The results show that good ESG performance can significantly improve the green TFP of enterprises, and that this effect is more prominent in industries with lower environmental risks and enterprises in the growth and maturity stages. We identified the importance of the psychological account path and propose that the promotional effect of ESG performance on green TFP mainly derives from improving green technical efficiency, rather than from expanding green technological boundaries. These findings have practical implications for guiding companies to implement ESG concepts, strengthening the synergistic role of government regulation and professional supervision, and promoting micro-level implementation of innovation-driven and sustainable development strategies, thereby promoting high-quality development.