Research On The Development Strategy Of Hainan Bangbo Education Technology Co.,Ltd.

As Hainan is gradually accelerating the exploration of constructing a free trade port with Chinese characteristics,the exchange and contact with foreign countries have become increasingly frequent.It is extremely urgent to improve the level of foreign languages for citizens in Hainan.Under such background,a number of small and medium private foreign language training enterprises emerge in response to the situation.In 2020,the outbreak of coronavirus epidemic results in a heavy blow to the fiercely competitive foreign language training market in Hainan.However,it also brings an important opportunity.Hainan Bangbo Education Technology Co.,Ltd.,founded in the middle of 2019,is a foreign language training startup which is devoted to serving the citizens in Hainan.After nearly half-year explorations,the offline training service of the Company failed to get on the right track,and the development strategy is still fuzzy.Hence,it expects to develop a strategy for transformation and development under the background of constructing a free trade port in Hainan and supporting the establishment of training enterprises with private capital.Based on the review of theoretical literature about corporate strategy,PEST was applied in this study to analyze the macro-environment of Bangbo Education,and “the five-force model” was employed to investigate its competitive context in the education training industry.Meanwhile,the internal and external resources of Bangbo Education as well as its capacities transformed from the resources were analyzed in the SWOT frame to seek out the strategic positioning and objective of Bangbo Education.The analysis results suggest that the Company should deem the torsional strategy as its overall development strategy,namely,to overcome internal weaknesses through external opportunities,respond to the government’s call,probe into the segmented market of service industry-foreign language training,develop equity incentive system to attract excellent teaching resources,and keep investing in course development and information-based development.Based on the overall strategy of the Company,the competitive strategy of concentrated differentiation was set,that is,to concentrate the target customers on employees in the service industry,introduce teachers with industrial work background,and customize courses according to customers’ actual post demands.After the selection of overall and competitive strategies,the guarantee plan for implementation of the strategies were elaborated from three aspects,including human resource,product marketing and information technology.This paper explored the development strategies of Bangbo Education through a series of corporate strategic management analysis methods,which not merely has practical reference value and guiding function for the development and strategy implementation of Bangbo Education,but also provides a reference for other newly-established education training enterprises to carry out a strategic research.