本案例由江南大学商学院的朱晋伟教授团队撰写，江南大学商学院案例中心研究员汤振容全文改编，江南大学商学院案例中心研究员陈田田为责任编辑，作者拥有著作权中的署名权、修改权、改编权。

摘要：企业发展需要有明确、持续的战略作为根本。澄星集团从一个3.8万元起家的村办小厂，发展到代表全国500强的大型现代企业；从生产普通磷化工产品，发展到涵盖磷、煤、石油化工和仓储物流、商贸等多门类经营的企业集团。本案例梳理了澄星集团在多个发展阶段的战略实施，如何根据产业发展现状和市场竞争环境适时调整业务方向，运用纵向一体化战略转化为企业的竞争优势。澄星集团的战略分析、制定和实施全过程对于企业如何在不稳定性不确定性更高的外部环境中脱颖而出，发挥出企业最大的竞争潜力具有一定的借鉴意义和启发。

关键词：澄星集团；战略实施；纵向一体化战略：竞争优势

Chengxing Group: Vertical integration strategy

Abstract: Clear and continuous strategies are basic needs for the development of enterprises. Chengxing Group has developed from a small village factory with 38,000 yuan to a large modern enterprise representing the top 500 companies in China. From the production of ordinary phosphorus chemical products, it has developed into an enterprise group covering phosphorus, coal, petrochemical, warehousing, logistics, trade and other business categories. This case reviews the strategy implementation of Chengxing Group in multiple development stages, how it timely adjusted the business direction according to the industrial development status and market competition environment, and transformed the vertical integration strategy into the competitive advantage of the enterprise. The whole process of strategy analysis, formulation and implementation of Chengxing Group has certain reference significance and inspiration for enterprises to stand out in the external environment with higher instability and uncertainty and give full play to the maximum competitive potential of enterprises. 

Keywords: Chengxing Group; Strategy implementation; Vertical integration strategy: Competitive advantage