The Research Of The Real Estate Listed Companies’ Business Model Evaluation

Today, owing to the rapid economic development, the quick market change andthe fierce competitions among the enterprises, the development of the enterprises isfaced with enormous challenges. Successful business models, which are popular withentrepreneurs, enable the enterprises gain advantage in competition.Even, businessmodels also become the scholars’ research hot spot.As an important research area ofbusiness model, business model evaluation can let the enterprises find out theshortages and advantages of their business models, so that they can constantlyoptimize.Real estate enterprises are service-oriented enterprises, but domestic andforeign scholars have done little research on service-oriented business modelevaluation, and there are little even no achievements in this field. Thus, this paper’sresearch can not only fill the blank in the research field of the business modelevaluation, but also can find out real estate companies’ business model existingshortcomings, and to correct. It has important theoretical significance and practicalsignificance.Firstly, the paper systematically discusses the domestic and foreign scholarsabout the business model evaluation, definition of business model, business modelcomponents, business model classification, and the present research situation andresults of real estate cycle theory. Combined with the process of real estate cyclefluctuations, the paper divide three stages of the cycle of real estate in our countryfrom1996to2011year: the recovery stage, prosperity stage and recession stage.Thepaper constructs the recovery phase of real estate listed company business modelevaluation index system, the boom in real estate business model evaluation indexsystem of listed companies, the recession phase evaluation index system of real estatelisted company business model through studying and drawing lessons from domesticand foreign scholars on business model of evaluation index system of research resultsas well as combine with the actual situation of real estate in our country. The articleselects the recession phase for comprehensive evaluation of listed companies’business model. Finally, the four samples of real estate companies are selected as theresearch object.Secondly, the paper uses the analytic hierarchy process to solve the weight ofeach index of the real estate business model evaluation system of listedcompanies.Through the issuance of questionnaires and recycling to obtain qualitativeindex of the data, and the questionnaire reliability and validity test, results showedthat the questionnaire has high reliability and validity, through the test reliability andvalidity. By querying the Shanghai stock exchange and shenzhen stock exchangewebsite in the annual reports of listed companies, this paper obtained the quantitativeindex of the data. According to access data using the fuzzy mathematical method tocalculate the final points of the quantitative indicators and qualitative indicators, then, for four sample companies business model each index score of weighted summation,concluded four sample companies business model composite scores.Finally, the paper make the indicators of improvement at all levels of eachsample company business model order by calculation difference value of each indexin the business model evaluation system.It also finds out the business model of listedcompanies’ existing problems and puts forward some suggestions to improve thebusiness model of the real estate listed companies, such as: make the right valueproposition, improve the company’s operating capacity, improve the company’sfinancial situation, actively implement the strategy, and strengthen staff training, etc.