我国小家电行业发展较早，总体规模在不断上涨，但是大部分都是中小型企业，即使是规模较大的苏泊尔、九阳、小熊等企业，也都还存在着中小型企业技术能力弱，资源不足等通病。一方面，小家电制造业的数字化转型受困于设备资源和人力资源，数字硬件软件设备都存在一定的滞后性，阻碍企业的转型，由于企业规模的限制，也难以引进优秀的数字化人才；另一方面数字化转型挑战过去以往企业内部的管理模式，大部分小家电制造业都是从小工厂起家，数字化的发展要求企业摒弃原有的传统管理方式，借助互联网思维和技术进行改造创新。基于此，本文选择了小熊电器作为案例研究对象，去探究其数字感知能力、数字技术捕获能力和数字整合重构能力是如何催动企业在价值主张发生变化，价值创造与传递进行重整、价值获取发生转变，从而实现商业模式的创新，这种创新又是如何通过企业绩效实现反映。

本文通过案例研究发现，数字动态能力中的数字感知能力能够帮助企业打破地理限制，拓宽搜索范围从而获得广泛的信息来源帮助企业能帮助企业打破原有业务、思想的局限，发现商业模式中新的价值主张。企业通过数字技术捕获能力自主研发和引进先进的技术，对外而言，企业的生产效率得到提升，产品得到更新，对内而言，企业内部组织边界被打破，内部流程实现改变，重构起全新的价值创造与传递方式。数字整合重构能力通过协同企业产业链和捕获的数字资源的关系，帮助企业实现盈利渠道的重整和产品布局的重塑，从而实现降本增效的目的，使得企业的利润增高，收入分配方式更加科学合理，实现价值创造的创新。

以本文研究的小熊电器为例，数字感知能力，帮助小熊电器界定更广、更深的客户价值，从而使得在价值传递过程中价值界面得以拓展，即为基于异质性需求的价值界面延拓；通过持续扫描市场环境和客户需求的过程，实现了与客户之间价值关系的动态调整，创造了客户与企业之间双向互动机制，小熊电器的数字化价值主张体现在以用户价值为中心的客户—企业关系转变。数字技术捕获能力使得小熊电器通过内部研发与外部合作，在价值创造与传递层面使得产品实现从“爆品”到“精品”的转化，实现产品定位的重塑，而数字技术的嵌入，为小熊电器在价值传递过程中提供了要素、流程与网络支持，组织边界被打破，帮助其完成了基于数字管理系统的“一大业务与技术重构、三大管理升级”。数字整合重构能力通过整合其销售渠道、产品结构和内部组织结构，使得企业原有的盈利布局下实现“加法与减法”共存的降本增效，于小熊电器而言即为基于全渠道布局的销售渠道拓展和基于数据可视化的SKU精简。最后，通过对比小熊电器自身在数字化转型过程中的财务状况，以及与同行业公司的横向对比，可以看出小熊电器的数字化转型为其带来了显著的商业模式创新效果。其偿债能力稳健、盈利能力增强、成长前景向好，但与同行业龙头企业九阳、苏泊尔等相比，在营运能力等方面依然存在一定差距，仍有较大的提升空间。

The small household appliance industry in our country has developed early, and its overall scale is continuously increasing. However, the majority of companies are small and medium-sized enterprises. Even larger companies like Supor, Joyoung, and Bear Electric still face common challenges such as weak technological capabilities and limited resources. On one hand, the digital transformation of the small household appliance manufacturing industry is hindered by equipment and human resource limitations. There is a lag in digital hardware and software, which impedes companies' transformation efforts. Due to the limitations of their scale,    it is also difficult for them to attract excellent digital talents. On the other hand, digital transformation challenges the traditional management models within these companies. Most small household appliance manufacturers started as small factories, and digital development requires them to abandon their traditional management methods and embrace internet thinking and technology for transformation and innovation. Additionally, most traditional manufacturing companies still struggle to establish effective links between new technological resources and business model design. Based on this, this study selects Bear Electric as a case study to investigate how its digital sensing capability, digital technology capturing capability, and digital integration and restructuring capability drive the company's business model innovation in terms of value proposition, value creation and delivery, and value acquisition, and how this innovation is reflected in company performance.

Through the case study, this study found that the perception dimension of digital dynamic capability helps companies overcome geographical distance and narrow search range, grasp rich data sources, avoid cognitive limitations, and discover new value propositions in business models. Through the digital technology capturing capability, companies can independently develop and introduce advanced technologies. Externally, this leads to improved production efficiency and product updates, while internally, it breaks down internal organizational boundaries, changes internal processes and organizational structures, and restructures value creation and delivery methods. The digital integration and restructuring capability broadens the company's profit channels and enhances its profit capabilities by coordinating the company's industrial chain and captured digital resources, improving revenue models and distribution, and achieving innovative value creation.

Taking Bear Electric as an example, the digital sensing capability helps Bear Electric define a broader and deeper customer value range, extending the value interface. Combined with the differences between market demands and traditional demands in the digital context, this represents an extension of the value interface based on heterogeneous demands. Secondly, in the process of continuously scanning the market environment and customer demands, Bear Electric adjusts the value relationship between the company and customers dynamically. With the help of digital technology applications, the digital value proposition manifests as a transformation of customer-company relationships based on user value dominance. The digital technology capturing capability enables Bear Electric to achieve the transformation from "hot-selling products" to "high-quality products" in terms of value creation and delivery through internal development and external collaboration. The embedding of digital technology provides support in terms of elements, processes, and networks for value delivery, breaking down organizational boundaries and helping Bear Electric complete the "one major business and technological restructuring, three management upgrades" based on digital management systems. The digital integration and restructuring capability integrates sales channels, product structures, and internal organizational structures, enabling the company to achieve cost reduction and efficiency improvement under the original profit layout, which, in the case of Bear Electric, includes expanding sales channels across all fields and SKU optimization based on data visualization. Finally, by comparing the financial situation of Bear Electric Appliances during its digital transformation process and comparing it horizontally with companies in the same industry, it can be seen that Bear Electric Appliances' digital transformation has brought significant business model innovation effects. Bear Electric's solvency, debt-paying ability, and growth potential are relatively stable, and its development prospects are optimistic. Although its operating capabilities have improved compared to before the business model innovation, there is still room for improvement compared to companies like Joyoung and Supor.