On the Influence of Platform Economy on Transformation and Upgrading of Chinese Traditional Manufacturing Industry - A Case Study of Red Collar Group

Abstract

The profitability of the traditional manufacturing industry is sluggish and fails to well adapt to the current trend of economic globalization. In the context of industry 4.0, it is imperative for the traditional manufacturing industry to transform and upgrade in an all-round way in the market-oriented and government-led environment. At this time, platform economy furnishes a good impetus for the transformation and upgrading of traditional manufacturing industry. Traditional manufacturing industry adapts to the needs of the external market environment through platform structure, adjusts factor input premised on dynamic changes in factor endowment, integrates scientific and technological revolution, and gradually cultivates competitiveness through continuous technological innovation, thereby achieving the transformation and upgrading of industry. In the background of conversion of era, this paper explores the innovation of traditional enterprises in the current historical background from the angle of evolution, attempting to reveal that platform economy helps traditional manufacturing enterprises to update their production methods, restructure their management structures and set up supply chain thinking, thereby pushing forward their transformation and upgrading. Taking the transformation and upgrading of Red Collar Group as an example, this paper analyzes the process of rapid learning, resource integration, innovation iteration, self-fission, and continuous evolution of the enterprise premised on platform economy, thereby proving the positive impetus of platform economy to the transformation of traditional manufacturing industry and testing its logical rationality. The research concludes that platform economy will become one of the significant strategic modes of transformation and upgrading of traditional manufacturing industry in China.

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