Download pdf
New Quality Productivity Empowers Enterprises Risk-Driven Innovation -- Taking BYD's Entry into New Energy Vehicle Insurance Industry as an Example
- 1 Business School, Liaoning University, Shenyang, China
* Author to whom correspondence should be addressed.
Abstract
Driven by the new wave of revolution in the science and technology industry, emerging industries are emerging one after another, with huge potential and unpredictable risks coexisting. The concept of new quality productivity came into being,which represents the innovation of productivity and the future development trend of advanced productivity. This paper uses a conceptual analysis method to study and analyze the logical ideas of risk-driven innovation of enterprises empowered by new quality productivity, and takes BYD's entry into the new energy vehicle insurance industry as an example to conduct a case analysis. The study demonstrates the positive role that new productivity plays in empowering enterprise innovation at the technical level and building an innovation culture for enterprises when firms engage in risk-driven innovation. Based on this, the study suggests innovative behaviors for relevant enterprises to explore new industries in the future. Enterprises with innovation needs can realize risk-driven innovation by utilizing new quality productivity from multiple perspectives, such as enhancing core technology R&D capabilities, cultivating new production factors, forward-looking planning for new industries, and shaping the supply chain pattern of new industries.
Keywords
new quality productivity, risk-driven innovation, emerging industries, technological innovation.
[1]. Zhao, M.T., Liu, Z.M. (2024) Research on Digitalization-Driven Corporate Brand Innovation and Development under the Perspective of New Quality Productivity. Journal of Xi'an University of Finance and Economics, 1-12.
[2]. Li, B.Y., Yu, F. (2024) Theoretical Logic and Practical Path of Promoting High-Quality Economic Development with New Quality Productivity. Contemporary Economic Studies, 6, 5-15.
[3]. Zhang, J., Zhou, Y.J., Wang, Z.R. (2024) New Quality Productivity to Guarantee Industrial Chain Supply Chain Security: Theoretical Framework and Path Research. Contemporary Economic Studies, 1-13.
[4]. Li, G., Wang, X., Su, S., & Su, Y. (2019) How Green Technological Innovation Ability Influences Enterprise Competitiveness. Technology in Society, 59, 101136.
[5]. Zhu, Y.X. (2024) New Energy Car Insurance Grows with Challenges. China Bancassurance Journal, 4.
[6]. Fang, Q., Sheng, Y. (2020) Study on the Relationship between Modernized Economic System Construction and Transfer and Transformation of Scientific and Technological Achievements. Proceedings of the Thirteenth International Conference on Management Science and Engineering Management, Springer International Publishing, 2(13), 61-74.
[7]. Ghasemaghaei, M., Calic, G. (2019) Does Big Data Enhance firm Innovation Competency? The Mediating Role of Data-driven Insights. Journal of Business Research, 104, 69-84.
[8]. Min, S., Zacharia, Z.G., Smith, C.D. (2019) Defining Supply Chain Management: In the Past, Present, and Future. Journal of business logistics, 40(1), 44-55.
[9]. Garay-Rondero, C.L., Martinez-Flores, J.L., Smith, N.R. et al. (2020) Digital Supply Chain Model in Industry 4.0. Journal of Manufacturing Technology Management, 31(5), 887-933.
Cite this article
Wang,Z. (2024). New Quality Productivity Empowers Enterprises Risk-Driven Innovation -- Taking BYD's Entry into New Energy Vehicle Insurance Industry as an Example. Advances in Economics, Management and Political Sciences,115,1-8.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
Disclaimer/Publisher's Note
The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.
About volume
Volume title: Proceedings of ICEMGD 2024 Workshop: Innovative Strategies in Microeconomic Business Management
© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and
conditions of the Creative Commons Attribution (CC BY) license. Authors who
publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons
Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this
series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published
version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial
publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and
during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See
Open access policy for details).