Abstract
Theme parks are large outdoor entertainment venues that feature a variety of attractions to present the park's theme to visitors. They typically include different types of amusement rides, as well as themed stores, restaurants, and other leisure facilities. As a successful model of domestic theme parks, Huaxiang Fangte has established several Fangte parks in various regions both domestically and internationally, achieving tremendous success. Its first project, Jin Yuan Fangte Science Fiction Park, was launched in Chongqing in 2007. Currently, it owns six major product categories: Fangte Joy World, Fangte Dream Kingdom, Fangte Water Park, Fangte Oriental Myth, Fangte ASEAN Myth, and Fangte Hotels; among these, the four major theme park brands are entirely independently developed by Chinese people, making them the leading large-scale high-tech fourth-generation theme parks in China. These parks have been built and put into operation in multiple locations including Shenyang, Tianjin, Jiayuguan, Jinan, Tai'an, Qingdao, Zhengzhou, Wuhu, Chongqing, Zhuzhou, Xiamen, Shantou, Datong, Ningbo, and Nanning.
In this context, how enterprises can enhance their market competitiveness through the effective role of systems, thereby forming sustainable competitive advantages and strong brand effects, has become an important issue facing enterprises today. This paper, based on a review, summary, induction, and evaluation of literature and foundational theories in four areas—theme parks, the connotation and function of corporate institutional capabilities, factors influencing corporate institutional capabilities, and the assessment of corporate institutional capabilities—proposes a theoretical model; the construction path of corporate institutional capabilities. Subsequently, this paper introduces the company’s current development status from four aspects: the company profile of Huaqiang Fangte, its development history, the manifestation of internal institutional capabilities, and the manifestation of external institutional capabilities. Furthermore, guided by in-depth interviews, the study primarily employs a combination of questionnaire surveys and statistical analysis (structural equation modeling) to draw the following conclusions:
Conclusion1: The institutional capability of an enterprise refers to the integration of internal resources and the coordination of various stakeholders to adapt to the external environment, ensuring its survival and development, and even achieving sustainable competitiveness. The institutional capability of an enterprise encompasses three aspects: first, the ability to formulate institutions; second, the ability to implement institutions; third, the ability to improve institutions.
Conclusion2: There are four factors that affect the ability and effectiveness of enterprise system: first, the factor of system rules; second, the factor of system operation; third, the factor of system environment; fourth, the factor of system related people.
Conclusion3: The enterprise system capability and enterprise system of Huaqiang Fangte are constantly improved with the development of the enterprise.
Conclusion4: The enterprise system capability of theme parks is transformed into market competitiveness and brand advantage through resources, processes and values.
Finally, some countermeasures and suggestions are put forward for the existing problems of Huaqiang Fangte Group’s enterprise system ability:
(1) Improve the enterprise system design ability on the basis of research and analysis;
(2) Strengthen the penetrability, strengthen the implementation of the system;
(3) Improve supervision and evaluation, adaptability and innovation, and enhance the ability of system improvement;
(4) Innovation-driven, improve the effective output of the system to market competitiveness;
(5) Keep up with the times, and adapt the enterprise system to the digital, intelligent and green environment;
(6) Strengthen monitoring and respond to the risk of enterprise system capacity building.
The innovation of this paper lies in:
- This paper introduces the concept and theory of "institutional capacity" which originally belongs to the field of administrative management and local governance into the field of enterprise management and enterprise system construction, which is an in-depth exploration of institutional capacity in micro-enterprise practice research and enriches the theoretical framework of institutional capacity research.
- The theory of institutional capability has been applied to the theme park industry. Previously, research on theme parks mainly focused on customer experience and satisfaction, business models of theme parks, and the coordinated development of theme parks with surrounding industries. Few scholars have examined the development of theme parks from the perspective of institutional capability, especially how large-scale group theme parks replicate and export their competitive advantages.
In summary, it is hoped that this study will contribute to the construction of corporate institutional capabilities at Huaqiang Fangte Group, help maintain and sustain its competitiveness, enhance brand advantages, promote the development and internationalization of China's theme park industry, and support the inheritance and international dissemination of China's cultural tourism industry and traditional Chinese culture.