Study On The Enterprise Value Driven Of The Carpenter Tan's Asset-Light Operation Model

With the rapid development of the Chinese economy,the competition between companies has become more intense.Seeking change is one of the ways for enterprises to cope with economic downturn and pursue the value of enterprises.The appropriate business operation mode,can make the enterprise obtain better benefit.The development of light assets management model and the richness of its theory make more and more enterprises start to take the path of light assets management.At present,in our country,real estate industry,PC industry,Internet industry,clothing industry have already had the model of light assets operating enterprises.Of course,with the division of labor and collaboration in the industry more obvious,the characteristics of capturing higher value added links have become the characteristics of the operating model of light assets.How to arrange the selection of enterprise value links rationally under the model of light assets is the key point of constant discussion and debate between theory and practice.As a company of furniture industry and retail industry,Carpenter Tan 's performance has always been excellent through the case analysis and financial analysis.Through case analysis and financial analysis,this paper mainly analyzes and studies Tan carpenter,and discusses how to arrange the operation mode of light assets effectively for each value link in order to obtain the enterprise value.Combined with the financial characteristics of Carpenter Tan,through the three dimensions of operation,investment and financing,this paper makes an in-depth study on the operation of Carpenter Tan 's light assets from the financial and non-financial aspects.It is found that Carpenter Tan,by seizing the most valuable links in the whole value driving chain,strengthening investment and construction in marketing and research,reducing investment in fixed assets and reducing capital cost,creates value for enterprises.However,Carpenter Tan's light assets operation also has some deficiencies,inventory is too large,investment unreasonable,are all Carpenter Tan needs to deepen in the future light assets operation.Overall,Carpenter Tan 's successful light asset operation can offer many advantages to the industry.This article also concluded the relevant suggestion,enterprises can combine own resources,and can not blindly learn the experience of successful enterprises,should start from the actual,reasonable implementation of light assets to maximize value.