Research On The Path Of Enterprise Value Creation From The Perspective Of Business Model

In recent years,the new energy vehicle industry has ushered in a rapid development stage with the introduction of the double carbon policy and the advocacy of people’s green and lowcarbon lifestyle.According to the characteristics of business model,domestic new energy vehicle enterprises can be divided into two categories:new power vehicle manufacturing enterprises and traditional vehicle transformation enterprises.In the process of new energy vehicle development,these two types of enterprises have adopted different business models,especially new power vehicle manufacturing enterprises with internet background,and their business models have undergone new changes.How new business models affect the value of enterprises has become a research hotspot.Based on this,this thesis puts forward the research problem of enterprise value creation path from the perspective of business model,and finds the specific path of value creation through the analysis of business model,so as to better understand the business model and the realization of enterprise value.This thesis under the analysis of relevant theories such as business model and enterprise value,focuses on how business model affects financial decision-making and how specific financial decision-making affects enterprise value,and constructs an analysis framework from business model to enterprise value.Through the analysis of the specific impact of business model on investment decision,financing decision and operation decision,the specific path of business model enterprise value creation is identified.A case study of Xpeng Inc.is carried out with this framework.Through this analysis,the conclusions are as follows:(1)the business model affects the financial decisions of enterprises,and the business model determines the specific financial decisions that enterprises should take in investment,financing and operation;(2)Financial decision drives the realization of enterprise value,investment decision and operation decision affect enterprise free cash flow,financing decision affects capital cost,investment decision affects growth,and finally affects the realization of enterprise value through the three elements of value;(3)Enterprise value reflects the advantages and disadvantages of business model.When evaluating enterprise business model,relying on the realization of enterprise value can realize the evaluation of business model.Through the analysis of this framework,we have a deeper understanding of the relationship between business model and enterprise value,and clarify that the business model takes financial decision-making as the path mechanism of enterprise value creation.On this basis,we put forward development suggestions for enterprise development:(1)firm value advocacy,adhere to intelligent R&D investment,maintain technology leading advantages and improve product performance;(2)Strengthen important cooperation,strengthen strategic cooperation with upstream hardware suppliers,ensure hardware quality and control hardware cost;(3)Improve customer relations,accelerate the construction of Direct stores and overcharge stations,solve user problems,improve service quality and promote product sales.