As the saying goes, "separate like a mountain", whether it is corporate image or development prospects, passive transformation companies are facing difficulties in the beginning.The first reaction of the capital market is usually "selling", which is also one of the direct reasons for New Oriental's stock price to leak 95%from the high point.
If you want to select the top ten news in the live broadcast industry of the Chinese Language Circle, the "Little Composition Storm" of Dong Yuhui, an anchor of Dongfang, is the first place to be unreasonable.The predecessor selected by Oriental is New Oriental Online. The parent company New Oriental is the largest private education and training institution in China. It is also a Chinese group listed in Nasdaq in the United States. The stock price reached 196 US dollars in February 2021 (about 258 S $ 258) The peak.
In the second half of 2021, the Chinese government's dual reduction policy on "reducing the burden of student operation and off -school training during the compulsory education stage" was officially implemented. The new Oriental stock price waterfall was leaked, leaving only 10 US dollars in March 2022.At that time, most of the enterprises in China in China "shut down and run away" in the wind and rain, the founder and president of New Oriental, Yu Minhong, chose to face the difficulty of facing the crisis and began a difficult business transformation.
Enterprise transformation is divided into two types: active transformation and passive transformation. Active transformation usually occurs in diversified enterprises. Driven by the two major goals of decentralized operating risks and chasing the blue ocean in the new field, managers actively increased the existing resources of the enterprise to the existing resources to the existing resources to the already to the existing resources.It is proven to have more potential for new industries.Through the successful preliminary layout and corporate public relations publicity, the transformation of such enterprises is more likely to be recognized and favored by the capital market, creating a new engine of profit for enterprises.
Passive transformation usually occurs in enterprises that operate the sunset industry, or the existing pillar business cannot continue due to irresistible external factors (such as government policies), resulting in relevant enterprises to transform for survival.However, the interval is like a mountain, whether it is corporate image or development prospects, passive transformation companies are facing a difficult start of the start.The first reaction of the capital market is usually "selling", which is also one of the direct reasons for New Oriental's stock price to leak 95%from the high point.
Under the leadership of Yu Minhong, although the road of passive transformation in New Oriental is difficult to twists, the transformation process can be called textbook -like inspirational.In 2021, New Oriental used its own funds of 20 billion yuan (about S $ 3.730 million), with a full refund of students' tuition, fired 60,000 employees at the standard of N+1, and donated 80,000 new desks and chairs to donateGive rural schools.New Oriental "sprinkle it by itself, but also wants to support an umbrella for others", and establishes a responsible conscience corporate image in one fell swoop.
Yu Minhong then renamed the subsidiary New Oriental online to "Eastern Selection", selling high -quality agricultural products online, and gradually expanded to other types of e -commerce products, cultural tourism products and services.Many teachers who stayed turned into an online anchor. Teachers have natural advantages in terms of affinity, popularity, and knowledge involved, and have become an extra points for online sales products.
Former high school English teacher Dong Yuhui is the unique model of Chinese and English explanation products, and has become popular.After the completion of the transformation, in the second half of 2022, the online product transaction volume selected by the East exceeded 4.8 billion yuan. The company began to turn a profit. The number of live broadcast platforms followed 35 million, and the number of personal accounts of Dong Yuhui was 18 million.New Oriental's stock price also opened the rising channel to the bottom.
However, New Oriental's online live broadcast business is a passive transformation. First of all, the live broadcast platform (such as Douyin) does not belong to New Oriental's own resources. The live broadcast platform will allocate and guide traffic according to their own interests, which will also help the star topPlum anchor individuals, not enterprises as a whole; second, from the founders, management to the core employee team, New Oriental comes from the education industry. The changes in surface operations may not be able to force the successful change of corporate culture and business thinking model."Little composition storm" is actually the pain of the passive transformation process of the enterprise.
As a well -deserved giant in the teaching and training industry, Yu Minhong will inevitably use past successful experience when operating a new live broadcast and cargo business, such as decentralization, and cannot completely depend on a single star teacher;High -end cultural tourism services; corporate brands must be greater than personal brands, and public relations propaganda must emphasize team strength.It is under such thinking that the management team selected by the East is "thinking about and doing something." Only then did it wrong to operate Dong Yuhuang's small composition storm, which also directly led to the duality of the number of customers and stock prices in the East.Flow.
The live broadcast industry has the operating logic that is different from other traditional industries. "The traffic is maximized and the winner eats it." Later people hoped that they would subvert the new industry model through their past successful experience.The Analects of Confucius is rare: Don't be solid, don't.In the process of corporate transformation, corporate operators must uphold the principles that are not stubborn and self -righteous. Only by putting down the burden of success in the past can we pursue excellence and challenge the new limit.
The author is the president of the Asia -Pacific Regional Enterprise Group
