【作者】 王红；

【导师】 罗红雨；

【作者基本信息】 河南大学 ， 会计硕士（专业学位）， 2017， 硕士

【摘要】 2012年底,中央提出了关于改进工作作风、密切联系群众的八项规定。之后政府出台了一系列文件,要求厉行勤俭反对浪费,严厉遏制“三公消费”。同时,为响应政府号召,我国商务部和餐饮行业协会提出了“厉行勤俭节约,反对铺张浪费”的行业公约,推动餐饮行业向大众化方向发展。中高端餐饮行业作为公务、商务接待的主要消费地,在国家此次政策影响下遭遇了行业发展的“寒冬”,业绩大幅下滑,整个行业面临转型。X公司有“A股民营餐饮企业第一股”之称,曾经不仅是餐饮行业的龙头企业,而且是中高端餐饮企业的典型代表。自2009年上市后,X公司发展迅猛。但是随着2012年底中央八项规定及相关政策的陆续出台,X公司遭遇公司发展的“滑铁卢”。公务、商务接待锐减,作为公司主要收入来源的高端酒楼业务业绩大幅萎缩,亏损严重。为积极响应国家政策,同时扭转亏损局面,X公司自2013年起开始频繁的战略转型。在餐饮业态,由中高端餐饮向大众化餐饮转型。此外,跨界转型进入与餐饮毫不相关的环保、文化、新媒体和大数据领域。但是转型后,X公司花费大量人力、物力、财力试图打造的环保、文化、大数据三大新主业,除环保业务有少量营业收入贡献外,其他两项新业务从未为公司创收,最终这三大新业务被悉数剥离。餐饮业态中,原有的酒楼、快餐、食品加工业务因亏损被剥离,目前仅剩团膳业务。为了对X公司战略转型绩效进行研究,本文构建了适合餐饮企业的战略转型绩效评价体系。该评价体系不仅引入了主要的财务指标以评价财务绩效,而且引入了非财务指标对战略转型的非财务绩效进行评价,两者结合可以综合反映X公司战略转型的效果。运用该评价体系,本文对X公司战略转型前后的绩效变化进行纵向对比分析,且运用模糊层次综合评价法对其战略转型的效果进行同行业横向对比评价。研究结果表明,X公司战略转型之后的财务绩效方面,盈利能力、盈利质量、偿债能力、营运能力、成长能力均出现明显下降。非财务绩效方面,战略目标未能实现,产品和服务质量保持稳定,研究开发能力下降,未来长期发展存在不确定性。与同行业其他上市公司相比,X公司多项指标处于行业最差水平,转型绩效评级为差(E)。因此,综合来看,X公司历时3年的战略转型以失败告终,失败的原因主要有三点。一是X公司“自上而下”推行战略转型的过程中,原高层管理团队发生大规模离职,新领域的专业人才未能及时引进和维持;二是“禁奢令”下餐饮行业市场行情不景气;三是不具备跨界转型进入的新领域所必需的资源能力。因此建议X公司和其他餐饮企业:保证转型所需中坚力量;餐饮业态转型应循序渐进;跨界转型首选餐饮相关领域。本文的创新之处主要体现在:首先,在借鉴国内外财务绩效评价体系的基础上,引入非财务指标,基于财务与非财务的视角构建适合餐饮企业的战略转型绩效评价体系,系统考察战略转型的财务绩效与非财务绩效;其次,采用案例研究的方法对企业战略转型动因、路径、效果进行阐述,全面呈现企业战略转型的全过程;再次,学术界对餐饮企业的研究相对匮乏,尤其在中央出台八项规定的政策背景下,为餐饮企业如何进行战略转型建言献策具有显著的时效性;最后,以往研究认为行业处于衰退期是企业跨界转型进入新领域的最好时期,本文研究发现,跨界转型进入非相关产业对组织绩效具有负面影响,对于中高端餐饮企业来说,战略转型应首先选择餐饮相关产业。更多还原

【Abstract】 At the end of 2012,Politburo of China’s Communist Party put forward eight provisions about improving the work style,closing ties with the masses.After that the government introduced a series of files requiring strict economy and combat waste.At the same time,in response to the call of the government,the Ministry of Commerce of China and Food Industry Association announced the industry convention,"hard to practice strict economy,combat extravagance and waste",aimed to promote food industry to develop in the direction of popularization.High-end catering industry as the main place of consumption of official reception and business reception,had suffered a "cold winter" under the influence of those policies,a substantial decline in performance.The whole industry is facing transformation.X Co.,Ltd is regarded as " the first stock of private catering enterprises ",also the archetype of high-end catering enterprises.It had developed rapidly since been listed in the stock market in 2009.But along with the Eight Provisions and relevant policies releasing one after another,X Co.,Ltd encountered "Waterloo".Its official reception both with business reception declined sharply.Main source of income,high-end restaurant business performance atrophied and endured severe financial loss.To actively respond to national policy,meanwhile reverse loss,X Co.,Ltd started frequent strategic transformation since 2013.In the food formats,middle and high end catering transferred to popular.In addition,X Co.,Ltd began cross-border transferring to environmental protection,culture,new media and big data,which all have nothing in common with food industry.X Co.,Ltd spent a lot of manpower,material resources,financial resources to build three new industries,including environmental protection,culture and big data.Among the three industries,only the first business created income,the other two new businesses had never contributed for the company.Finally,they were all been stripped.In the catering industry,the original restaurants,fast food,food processing business were stripped due to loss,only group meal business remaining.In order to study the performance of strategic transformation of X Co.,Ltd,this paper constructed a performance evaluation system of strategic transformation suitable for catering enterprises.The evaluation system contains not only main financial indicators,but also contains non-financial indicators.Therefore itcan evaluate financial performance and non-financial performance,and can comprehensively reflect the performance of strategic transformation of X Co.,Ltd.Using the evaluation system,this paper achieves longitudinal comparison analysis and horizontal comparison analysis.The study shows that X Co.,Ltd’s financial performance,profitability,cash flow,debt paying ability,operation ability,growth ability,all appear to drop significantly.Non-financial performance,strategic objectives not achieve,product and service quality is stable,the research and development ability drop,future long-term development is uncertainty.Compared with the same industry,X Co.,Ltd’s multiple indicators are the worst,level poor(E).In general,X Co.,Ltd’s three-year transformation ended in failure.There are three reasons bringing out the failure.First,in the process of X Co.,Ltd’s strategic transformation,a large number of senior managers quit,the new talent is not timely introduction and maintenance.Second,the Thrift order makes the food industry market downturn.Third,its resource and capacity doesn’t meet the irrelevant industries’ requirements.Then the suggestions to X Co.,Ltd and other catering enterprises are: maintaining team stability;transformation should be gradual;avoiding blind cross-border transformation,diversified transformation should start with entering the related field.The innovation of this paper lies in: First,drawing lessons from domestic and international financial performance evaluation system,introducing non-financial indicators,this paper constructs a performance evaluation system for strategic transformation of catering enterprises in the perspective of financial and non financial.Second,using the method of case study to explain the reason,path and effect of enterprise strategy transformation,and presenting the whole process of enterprise strategy transformation.Third,the academic research on catering enterprises is relatively scarce,especially in the background of the Eight Provisions and relevant policies,then the study and suggestions about food industry has advantages of strong timeliness.Finally,previous studies considered that the industry in a recession is the best period of transferring into new areas,this study finds that cross-border restructuring into non related industries has a negative impact on organizational performance,for the high-end catering enterprises,related diversification is more suitable.更多还原