Abstract:     The historic convergence of the technological revolution and industrial revolution has promoted the development of science-based industries. New science-based firms (NSBFs) face high risks in terms of technological development and high uncertainty in the area of market competition. Firms with a high environmental adaptability can gain competitive advantages and a strong corporate performance in uncertain environments. Much research has focused on the strategic adaptation of enterprises. Scholars have explored the positive impact of antecedent variables, such as the senior management team, strategic opportunities, and human resources, on the strategic adaptability of enterprises from the perspectives of the organization, behavior, and resources. However, research for the NSBFs which has technical advantages on strategic adaptation，the role of NSBFs′ core or unique technical resources cannot be ignored. Scholars have made a great deal of research on the matching relationship between technology and enterprise strategic. With regard to the study of technical resources, the scholars proposed two dimensions of technological depth and technological width. Most of the empirical research on the influence of technological depth and technological width on the innovation, however the effect of the technical resources on the enterprise strategic adaptation from two dimensions of the technological depth and the technological width is rarely studied.
Strategic adaptation is a series of strategic actions related to the selection, commitment, implementation, and revision of a plan, which is constrained by technological resources. It has an important impact on the survival and development of NSBFs. We used 184 new pharmaceutical manufacturing start-ups listed on the new OTC market before 2016 as empirical research samples. The technological resource structure of enterprises was measured by the technological depth and breadth. The technological depth of a technology is measured by the extent to which patents are used, and the technological width is measured by the range of new technologies (IPC code) included in the patent. The strategic adaptation was measured by the diversity and frequency of the strategic actions. The diversity of strategic action is calculated by Herfindahl Index to measure the concentration of strategic action. The frequency of strategic action is the number of times each strategic action occurs. 
    This research focused on the effect of the technological depth and breadth as the antecedent variables on strategic adaptation. The empirical results showed that the technological depth of the NSBFs had a negative impact on the frequency of strategic action: as the technological depth became deeper, the frequency of strategic action became lower. The technological breadth had a negative impact on the diversity of strategic action, because the diversity of the strategic action was the reverse index. When the technological breadth became wider, the diversity of strategic action became greater. Enterprises were divided into 4 categories according to the different structures of the NSBFs′ technology resources (shown in the quadrantal diagram).
In Quadrant I of the diagram, the technology depth of the NSBFs is deep and the technological breadth is narrow. During the growth period, enterprises mainly carry out product research and development, testing, and production, which focuses on the product′s technological depth in regards to research and development. When there are sufficient external resources, the enterprises give priority to a product′s technological depth research and development. The strategic goal is the narrow-segment market, which focuses on the strategic action of the product′s production and services. Enterprises meet the needs of a specific competitive-segment market, and therefore take less strategic action. The S curve model, proposed by Foster, shows that there is a slow growth stage at the beginning of the development of a new technology, that is, the budding stage. After this stage, the cumulative utility growth rate begins to increase, and the technology begins to develop rapidly. The enterprises in Quadrant I are in the budding stage of technological research and development, and so they tend to develop the technological depth in the initial stage. The technology accumulation of a certain product makes these enterprises develop rapidly, and they may become the technological leaders in their respective fields in the future. Through the technological depth research and development, enterprises survive and develop.
In the second quadrant, the technological depth and technology breadth of the NSBFs are deep and wide. In the growth period, the technological depth and technological breadth have great advantages, the technology strategy is broadly developed, and the enterprise resource advantage is at its best. Enterprises pay attention to technological depth research and development, which maintains the technological advantages of these enterprises. These enterprises explore the direction of their strategic development through the use of a variety of strategic actions. By exploring a variety of strategic actions, enterprises extend their product lines and expand their market share to achieve profitability. In the market competition, these enterprises maintain their technological advantage and enjoy steady development in the changing environment.
In the third quadrant, the development of the technological depth and technological breadth of the NSBFs is low, and the strategic actions are less diverse and occur with a higher frequency. The technological strategic direction is not clear. The enterprises are looking for opportunities and markets by taking frequent actions to survive and develop.
In Quadrant IV, the NSBFs′ technology depth is shallow, and the technology breadth is wide. In the growth period, the enterprises tend to develop their technology breadth, and the strategic goal is the wide-segment market. Enterprises use the development of new production and distribution methods to research and develop new products or services. The goal of these strategic actions is to expand the enterprise′s market share (which is based on the whole industry) to provide customers with acceptable products or services with certain characteristics. By taking diversified and frequent strategic actions under the condition of rich technical resources, the enterprises give priority to taking positive strategic actions through the market, product, technology, and expected operation scale. These enterprises create a product research and development platform, which helps them develop a variety of products and broadens the path of enterprise growth.
The management significance of this paper is as follows. First, from the perspective of strategic adaptation, we discussed the survival and development of NSBFs, which provides new ideas for future research and enriched the theory of strategic management. Second, this work expands the research on the antecedent variables of enterprise strategy adaptation and provided a theoretical basis for enterprises to choose a strategy and strategic actions based on technological advantages. Finally, the structure of technology resources was divided into technological depth and technological breadth. These categories explain the difference in the strategic actions taken by enterprises. This paper therefore helps NSBFs in the growth period make the correct strategic choice in regard to market competition, enhances their competitive advantage, and improves their chances of survival and development.

Key words: strategic adaptation, technological depth, technological breadth, new venture, new science-based firm