Research on the growth mechanisms of

doi:10.19571/j.cnki.1000-2995.2025.11.003

Science Research Management ›› 2025, Vol. 46 ›› Issue (11): 23-31.DOI: 10.19571/j.cnki.1000-2995.2025.11.003

• 5DDD299A-561 • Previous Articles Next Articles

Research on the growth mechanisms of "Little Giant" enterprises in the digital context

Li Zhongshun^1,2, Xie Weihong^1,2, Wang Yongjian^2,3

1. School of Economics, Guangdong University of Technology, Guangzhou 510520, Guangdong, China;
2. Key Laboratory of Digital Economy and Data Governance, Guangdong University of
Technology, Guangzhou 510520, Guangdong, China;
3. School of Management, Guangdong University of Technology, Guangzhou 510520, Guangdong, China

Received:2024-01-23 Revised:2025-01-19 Accepted:2025-01-20 Online:2025-11-20 Published:2025-11-07

Abstract

Abstract: Specialized, refinement, differential, and innovation (SRDI) "Little Giant" enterprises exhibit remarkable growth potential, but research on the underlying mechanisms enabling their high-speed growth in digital contexts remains insufficient. Based on the data from 77 SRDI "Little Giant" enterprises in the high-end equipment manufacturing industry, this study employed the fsQCA method to analyze the configurational effects of competitive strategies (specialization strategy, differentiation strategy), business models (content, structure, governance), and digital technology innovation on enterprise growth. A validation analysis using typical cases was also conducted and the findings revealed as follows: (1) A high specialization strategy is a common core condition for achieving high growth in SRDI "Little Giant" enterprises. (2) There are four types of high-growth configurations: content-dominated specialization type, structure-dominated specialization type, digital governance specialization type, and structure-dominated differentiation type. These configurations can be further categorized into two patterns: specialization-oriented and differentiation-structured models. (3) Under high digital technology innovation, the fit between a high specialization strategy and strong business model governance promotes enterprise high growth. Under low digital technology innovation, high-speed growth can be achieved through the fit of a high specialization strategy with strong business model content or the fit of high specialization / differentiation strategies with strong business model structure. (4) Non-high-growth configurations indicate that when both specialization strategy and digital technology innovation are weak, even if other individual conditions are strong, enterprises still struggle to achieve high growth. These findings have not only uncovered the mechanisms by which SRDI "Little Giant" enterprises achieve high-speed growth in digital contexts but also will provide important managerial insights for the sustained growth of small and medium-sized manufacturing enterprises.

Key words: SRDI "Little Giant", enterprise growth, competitive strategy, business model, digital technology innovation

Li Zhongshun, Xie Weihong, Wang Yongjian. Research on the growth mechanisms of "Little Giant" enterprises in the digital context[J]. Science Research Management, 2025, 46(11): 23-31.

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