本案例由江南大学商学院的王燕茹教授团队撰写，江南大学商学院案例中心研究员陶瑞全文改编，江南大学商学院案例中心研究员盛诗慧为责任编辑，作者拥有著作权中的署名权、修改权、改编权。

摘要：无锡征西机械制造有限公司成立于2011年，是一家制造非标机械设备的民营企业。从早期艰难创业、负债经营，到实现盈利后增持资产，前后历经了8年时间。在市场竞争日益加剧和经济下滑的大背景下，公司的发展面临着经营危机。但是，挑战中总也伴随着机遇，自2018年起，国家大力发展智能制造，使得工程机械设备的需求量有所回升。因此，公司如何实现可持续发展，是扩大生产规模，还是继续保持现状稳定发展？是摆在厂长余永祥面前的一道难题。本案例旨在通过回顾无锡征西机械制造有限公司的发展历程，展示该企业的创业之路，为小微企业的稳健发展提供了一定的借鉴与参考。本案例中映射的管理理论包括战略变革动因理论、战略定位理论、动态能力论等。本案例主要为EMBA，MBA开发，适合具有一定工作经验的学员和管理者学习。

关键词：征西机械制造；非标机械设备制造；小微企业；可持续发展

Wuxi Zhengxi Machinery Manufacturing Co., Ltd.: The Puzzle Of Expanding The Scale

Abstract: Founded in 2011, Wuxi Zhengxi Machinery Manufacturing Co., Ltd. is a private enterprise manufacturing non-standard machinery and equipment. It has taken 8 years from the early difficult entrepreneurship, debt management to the realization of profitable asset increase. Under the background of intensified market competition and economic downturn, the company is facing a crisis in its development. However, challenges are always accompanied by opportunities. Since 2018, the country has vigorously developed intelligent manufacturing, making the demand for construction machinery and equipment rebounded. Therefore, how can the company achieve sustainable development, expand the production scale, or continue to maintain the status quo and stable development? It is a difficult problem for factory director Yu Yongxiang. This case aims to show the entrepreneurship of Wuxi Zhengxi Machinery Manufacturing Co., Ltd. by reviewing its development history, and provide some reference for the steady development of small and micro enterprises. The management theories mapped in this case include strategic change motivation theory, strategic positioning theory, dynamic capability theory, etc. This case is mainly developed for EMBA and MBA, which is suitable for students and managers with certain work experience.

Keywords: Zhengxi Machinery Manufacturing; Non-standard Mechanical Equipment Manufacturing; Small and Micro Enterprises; Sustainable Development