New Oriental's Business Model
Founded in 1993, New Oriental was originally a study abroad consulting company, and then gradually developed into a comprehensive education and training institution. New Oriental's business model is to earn tuition by offering various training courses, and at the same time, it also provides some auxiliary services, such as book sales and study abroad consultation.
The training courses of New Oriental mainly include English, TOEFL, GRE, GMAT, SAT, etc. These courses are relatively expensive, but because of the leading position and good reputation of New Oriental in the education and training industry, it attracts a large number of students to sign up.
The Dilemma of New Oriental
However, with the continuous development of society and the intensification of competition, the business model of New Oriental began to face difficulties. First of all, the higher price of courses in New Oriental makes some students choose cheaper training institutions, which leads to a gradual decrease in the number of students in New Oriental.
Secondly, the curriculum of New Oriental is relatively simple, mainly in English, and it is difficult to meet the different needs of different students. In addition, the teaching methods and textbooks of New Oriental are relatively traditional and do not conform to the trend of modern education.
Transformation of New Oriental
In order to cope with these difficulties, New Oriental began to transform. First of all, New Oriental began to expand its courses and added some new courses, such as programming, design and finance, to meet the different needs of different students.
Secondly, New Oriental began to introduce new teaching methods and textbooks, such as online teaching and mobile learning, to adapt to the trend of modern education. In addition, New Oriental has also begun to strengthen cooperation with universities and set up some cooperative courses with universities to improve the quality and competitiveness of courses.
The future of new oriental
Although New Oriental has encountered difficulties in its business model, it is still expected to achieve better development in the future through transformation. First of all, the brand influence and reputation of New Oriental are still very good, which laid the foundation for its future development.
Secondly, with the continuous development of education and training industry in China, New Oriental still has a great market space. As long as New Oriental can constantly adjust its business model and improve the quality and competitiveness of courses, it is expected to achieve better development in the future.