Research On Ofo Business Model Based On Transaction Cost Theories

With the developmentof Airbnb and Taxi-hailing,the value of shared economy has been widely recognized.From the current competition pattern of the Bike-Sharing market,only ofo and mobike has formed a large scale.The ofo is the first domestic Bike-Sharing company,founded in 2014.It creats the the concept of " Bike-Sharing " by optizime the resource distribution throungt internet technology.ofo has been launched in the 33 cities from and has been successfully operated in more than 200 universities.It has become the largest and fastest growing Bike-Sharing platform in China.But behind its rapid development,there are still many problems,such as ofo user opportunism tendencies,high transaction costs and infrastructural facilities.These problems has great influence on ofo business mode.In addition,there are few studies on the shared economy and the Bike-Sharing business model no matter in China or abroad.This thesis takes ofo as the research object,from the perspective of transaction cost analysis ofo business model and it's advantages,probes into the composition of transaction cost of ofo,finally the thesis combines the successful experience of sharing economic commercial models which can provide reference for optimizing the ofo business model.The main goal of this thesis is to put forward feasible proposals for the optimization of Bike-Sharing business mode and promote the healthy development of shared businesses through the research of ofo business mode.This thesis is divided into six parts: the first part is the introduction,it describes the background and significance of the research,and elaborates the purpose,method,content and logical framework of the research,then it puts forward the creative points of this thesis;The second part combs the related literature,including the source of the shared economy and its business models,the review of the Bike-Sharing development,and transaction cost theory,this part is to introduce the theoretical foundation of the existing theory and the theoretical achievements of sharing economy and Bike-Sharing,and to pave the way for the subsequent theoretical research;The third part mainly focuses on the ofo business model and it's transaction cost by comparing the model and transaction cost of the share economy and traditional economy which comes to a conclusion that internet technology reduces the uncertainty of trading environment is the key reason reducethe transaction cost of ofo business model,then from the perspective of transaction cost thoery analyzes the business mode of ofo and its transaction costs,and compares with traditional urban public bicycles,and explores the dilemma faced by the ofo business mode;the fourth part selects the successful shared economic and commercial mode such as foreign Airbnb,Wework,domestic Taxi-hailing.;Through the analysis of their business model,learn from the successful experience of economic business model,put forward feasible suggestions for improvement and optimization of ofo business model;finally,the fifth part points at ofo business model's development problems,and puts forward suggestions from the government and enterprise.The government should corporate with enterpriseith by creating adiversified supervision system,and building the social credit system to restrict enterprises and ofo users.In addition,ofo and other Bikesharing businesses should improve their business models,reduce transaction costs,modify service models,and create new profit models to increase user stickiness and promote the long-term development of ofo business model.