Abstract: In the era of digital economy, digital technology and the real economy are deeply integrated, and Chinese manufacturing companies are facing opportunities and challenges to achieve innovative development through strategic changes. Limited by theoretical perspectives and research methods, existing research is difficult to guide managers to achieve effective strategic changes. In view of this, based on the strategic triangle framework, through the fuzzy set qualitative comparative analysis method (FS QCA) and based on the sample data of China's A-share listed manufacturing enterprises in 2018, this paper tests the configuration effects of six conditions on innovation performance: government efficiency, innovation and entrepreneurship activity, past performance, nature of controlling shareholders, market competition and range of strategic change. The results show that strategic change does not constitute a necessary condition for high innovation performance. Under different institutional situations, enterprises should choose strategic reform mode according to the characteristics of organizational elements. Four configurations can lead to high innovation performance: ① Under the environment of high government efficiency and non high innovation and entrepreneurship activity, high-performance state-owned enterprises should implement avoidance strategic reform; ② Under the environment of high government efficiency and high innovation and entrepreneurship activity, high-performance private enterprises should implement appropriate strategic reform; ③ Under the environment of high government efficiency and high innovation and entrepreneurship activity, non-high-performance state-owned enterprises should implement steering strategic reform; ④ Under the environment of non-high government efficiency and non-high innovation and entrepreneurship activity, non-high-performance enterprises should carry out Renaissance strategic reform.
