Research On Business Model Innovation Of Changsha New Oriental School

Changsha New Oriental School was established in 2005,which provides a wide range of educational services for students who are from primary school to university and for those preparing for studying abroad,and various vocational education options.Since its establishment,it has been practicing the four core education concepts of New Oriental School: independent personality,social responsibility,global vision and lifelong learning.Changsha New Oriental School has been steadily working,committed to the "student-centered,quality-win" service philosophy.In the course of its development,the institution has rapidly occupied the education training industry in Hunan province because of its positive culture influence,professional and excellent teachers,unique and student-friendly classes,good learning results and services that continuously exceed customers’ expectations.Nevertheless,competition in the education training industry has gradually become fierce recently;furthermore,with the coming of the era to reduce effectively the burden of after-school homework and training among the students from primary and junior high schools,this industry is changing dramatically.At the moment,it is necessary to carefully study and analyze the current business model and make appropriate innovations to maintain the industry competitiveness and sustainable development in the constantly variable market in the years to come.Changsha New Oriental School is taken as the subject of research by this thesis.In the first place,pertinent home and foreign literature based on business model and internal entrepreneurship was consulted,and then the theoretical research and analysis basis of this paper was obtained through sorting and integration.Next,the macro environment,industry situation and internal and external competition environment of Changsha New Oriental School were analyzed initially with the analysis tools of PEST,Five Forces competition model and SWOT one by one;moreover,based on the four parts of the business model canvas and its nine elements,namely product service interface: value proposition;customer interface: customer segments,channels and customer relationships;asset management interface: key activities,key partnerships and key resources;financial interface: revenue streams and cost structure,a full-scale analysis of Changsha New Oriental School is made,and the aspects needed improvement and innovation are clearly identified.After that,the steps combined with the internal entrepreneurship to improve and innovate the business model of the institution has already been finished.In the mean time,I laid down safeguards of the sides of operation culture,HR and financial assistance to guarantee that the innovative business model will go well.On the one hand,the research of this paper provides a new practical business model for Changsha New Oriental School to maintain the industry competitiveness and sustainable development over the next few years.On the other,it can provide some illumination for other educational institutions in this industry.Especially with the advent of the era of "double reduction" which means opportunities and challenges in compulsory education,it has important reference significance for the transformation and development of other educational institutions.