Abstract:This paper focuses on the behavior of latecomers catching up with leading enterprises, selects the relevant indicators of disruptive innovation and flexible strategy from two aspects of innovation mode and strategy selection, and uses qualitative comparative analysis (fsQCA) to analyze the successful path of latecomers catching up with leading enterprises, and obtains the core conditions and marginal conditions in the catching-up path. The results show that disruptive innovation can help latecomer firms catch up with leading firms. Adopting flexible strategy can avoid unnecessary competition in the process of catching up; The interaction of diversification and flexible strategy can improve the core competitiveness of latecomer enterprises and give full play to their innovation advantages. According to the research results, some suggestions are given, hoping to provide theoretical support for latecomers to catch up and improve the success rate of latecomers to catch up with leading enterprises.