对于任何一家想要发展壮大的企业来说，强化自己的核心竞争力，提高产品 的附加值和不可替代性，是企业首先要关注的问题。在中美贸易摩擦加剧的 2018 年，作为我国最大的两个通讯设备和解决方案提供商，中兴经历了贸易禁运事件 和之后的巨额罚款，华为公司也经历了以美国为首的多个西方国家禁入条款的纷 纷出台和下半年华为 CFO 被扣留事件。华为在一系列争端中仍然保有继续健康发 展的实力和信心，甚至豪言放弃美国市场，但是中兴公司却十分被动且险些危及 生存。核心技术水平的差异是造成两个企业之间实力差距不断增大的必然原因之 一。 本文采用案例分析的方法对中兴和华为两家企业研发投入、创新绩效以及创 新绩效发生差异的原因进行了基于公司战略角度的分析。首先对两个案例企业的 企业战略演变过程进行了梳理，找出特点和差异所在；进而用研发费用总额、研 发强度和研发人员比例三个具有代表性的指标，比较了两个案例企业的研发投入 量；并且用专利申请量和核心专利数量衡量了企业研发投入的产出绩效（创新绩 效），并将研发投入和产出情况与企业战略结合分析。研究发现，案例企业研发 投入的创新绩效产生差异，是研发投入在不同的企业战略的指引下，受到不同控 股权结构和决策机制的影响，最终得到的研发产出呈现出了不同的数量和质量结 果。本研究可以为其他企业在提高研发投入的效率和提高企业创新绩效方面提供 一定的参考。 关键词，研发投入，创新绩效，企业战略，决策机制II Abstract For any company that wants to grow and develop, strengthening its core competitiveness and increasing the added value and irreplaceability of products are the first issues that companies must pay attention to. In 2018, when Sino-US trade frictions intensified, as the largest two communication equipment and solution providers in China, ZTE experienced a trade embargo and a huge fine while Huawei and its products were banned by the United States and its allies Western countries, in adding to the detention of Huawei CFO at end of 2018.Through a series of disputes and wounds, Huawei still retains the strength to continue healthy development and confident enough to claim to quit US market, but ZTE gets caught by a very passive situation which almost endangers survival. The difference in core technology level is one of the vital reasons for the growing power gap between the two companies. This paper uses the case analysis based on company strategy to analyze the R&D investment and the innovation performance, focusing on the reasons for the differences in the innovation performance between ZTE and Huawei. Firstly, the evolution of the corporate strategy of the two companies was sorted out to find out the characteristics and differences; secondly, using three representative indicators of total R&D expenses, R&D intensity and R&D staff ratio, the R&D investment of the two companies was compared. Finally, using the number of patent applications and the number of core patents to measure the output performance (innovation performance) of R&D investment, we analyze R&D investment and output combined with corporate strategy. The study found that under the guidance of different corporate strategies, affected by different controlling structure and the decision mechanism, the innovation performance of the two companies is different. Thus, the final R&D output is of different quantity and quality. This research can provide some references for other companies to improve the efficiency of R&D investment and improve the innovation performance of enterprises. Key words，R&D investment, innovation performance, enterprise strategy, decision mechanismIII 目 录 第一章 绪论 ..................................................... 1 1.1 研究背景 ................................................ 1 1.2 研究意义 ................................................ 2 1.3 研究思路和论文框架 ...................................... 2 第二章 文献综述 ................................................. 4 2.1 研发投入 ................................................. 4 2.2 公司战略与研发投入 ....................................... 5 2.3 研发投入与创新绩效 ....................................... 6 2.4 文献评述 ................................................. 8 第三章 研究设计 ................................................. 9 3.1 研究方法的确定 ........................................... 9 3.2 案例选取 ................................................ 10 3.3 案例介绍 ................................................ 10 3.3.1 中兴通讯简介和事件介绍 ............................ 10 3.3.2 华为公司简介和事件介绍 ............................ 11 3.4 数据收集 ............................................... 12 3.5 案例分析思路 ............................................ 13 第四章 案例分析 ................................................ 15 4.1 战略演变分析 ............................................ 15 4.1.1 研发战略 .......................................... 15 4.1.2 业务单元战略变革 .................................. 18 4.1.3 控股权差异分析 .................................... 20 4.1.4 决策机制差异分析 .................................. 21 4.2 研发投入分析 ............................................ 23 4.2.1 通信企业研发投入的特点 ............................ 23 4.2.2 研发费用总额分析 .................................. 24 4.2.3 研发强度分析 ...................................... 26 4.2.4 研发人员投入分析 .................................. 27 4.3 研发投入的产出情况分析 .................................. 28IV 4.3.1 专利申请量 ........................................ 28 4.3.2 核心专利情况 ...................................... 32 4.3.3 净利润情况 ........................................ 34 第五章 结论与建议 .............................................. 36 5.1 研究结论 ............................................... 36 5.2 政策建议 ............................................... 38 5.2.1 提高研发投入转化效率 .............................. 38 5.2.2 优化研发活动结构 .................................. 38 5.2.3 知识产权保护 ...................................... 38 5.2.4 信息披露 .......................................... 39 5.3 研究不足与展望 ......................................... 39