Abstract: The effective link and cooperation of resources have become the important premise of corporate value creation to build competitive advantage. To conduct an exploratory single case study of Jiangxi Lidu Distillery Co., LTD (hereinafter referred to as Lidu Distillery) can answer the question of how to open the“black box”of resource behavior behind corporate value creation through effective resource scheduling and optimization of value creation at different stages. The findings show that: (1) the general logic of resource scheduling is in the order of “resource identification—resource structuralization—resource binding—resource utilization”; (2) based on resources providing subject, resources relation degree, value creation behavior and differences of value creation causes, three types of value creation at different corporate development stages can be identified, which presents the evolution law of “value chain link improvement—value chain iteration—value net creation”; (3) under the dynamic environment, the enterprises’ strategic adjustment responding to the environment will directly act on the process of resource scheduling, which will indirectly optimize corporate value creation.

Key words: resource orchestration, value creation, dynamic capabilities, evolutionary mechanism