Adaptation Strategies of Shenyang Research Institute of Foundry Co. Ltd: Basis for Strategic Plan

Abstract

               This research focuses on the adaptation strategies employed by Shenyang Research Institute of Foundry Co. Ltd., a State-Owned Enterprise (SOE), in response to the economic resurgence following the COVID-19 pandemic. The study aims to provide a comprehensive understanding of how SOEs, like the Shenyang Research Institute, navigate challenges and leverage opportunities to sustain and enhance their competitive position within the foundry industry post-pandemic. A quantitative method approach was utilized to explore the adaptation strategies, factors affecting these strategies, and the challenges encountered during the adaptation process. The findings revealed that the adaptation strategies were highly effective, with government intervention being the most influential factor, followed by management and leadership, and customer expectations. Policy initiatives had the least impact. Challenges in sustainable growth were found to be the most significant area of concern for the company. Furthermore, the research identified four key weaknesses: differences in interests with the government, conflicts in benchmarking and company structure, vicarious learning and collaboration, and special purpose financial planning. These areas should be the focus of the strategic plan. This study contributes valuable insights for improving the adaptation strategies of Shenyang Research Institute of Foundry Co. Ltd., a State-Owned Enterprise (SOE). The outcomes are intended to contribute not only to the academic understanding of organizational adaptation but also to provide practical guidance for industry professionals and leaders seeking to navigate change effectively.