New Oriental Online Business Model Innovation Research

With the development of online education,the market competition is becoming more and more fierce.This kind of fierce competition is the competition of the market competitiveness of online education companies on the surface,but actually it is the competition of their business models.This paper selects new Oriental online,a well-known brand online education service provider in China,to study its business model innovation based on its good customer experience and product content development ability,leading total revenue and profitability,as well as strong key resources and capabilities.Based on the analysis of the current situation of new Oriental online,this paper studies the possibility of its business model innovation through the interpretation,innovation and evaluation of the company's existing business model.By changing several elements of new Oriental's online business model,the innovation process of its business model is promoted,which not only improves its own competitiveness,but also provides a reference for other existing and potential online education companies in the market.In addition,there are books of some authoritative experts and scholars in the field of business model at home and abroad,unique literature research on online education,and the latest data of professional data companies,which provide sufficient basic theoretical basis,unique innovative ideas and methods,and great persuasiveness for the completion of this paper.This paper based on the understanding of the business model relevant theories,the development of the company by analyzing the present research situation,analyzes its existing business model of six elements,developed the business model innovation ideas and methods,construct the company's new business model,and evaluate the new business model,eventually determine such innovation is feasible.In the end,this paper proposes such innovative business model solutions as changing enterprise positioning,improving business system stakeholders and their transactions,reintegrating key resources and capabilities,optimizing profit sources and changing valuation methods,increasing cash investment and creating favorable cash flow with financial instruments,and finally promoting the improvement of enterprise value.Finally,the innovation of the company's business model is guaranteed to be successfully implemented through the measures of four levels,namely,the organizational and institutional level,the capital and financial level,the technical level and the corporate culture level.This paper through the novel topic,familiar with the "wei and zhu six elements business model" theory and model,the study of new Oriental online business model innovation,but also for others on the domestic online education institutions business model innovation to provide a reference for further research.