Harvard Case - New Oriental: A Model Exploration for Transforming Live Streaming
"New Oriental: A Model Exploration for Transforming Live Streaming" Harvard business case study is written by Jie Li, Famei Shen, Ziyin Huang, Bingyan Shen, Danqi Li. It deals with the challenges in the field of General Management. The case study is 14 page(s) long and it was first published on : Jan 30, 2024
At Fern Fort University, we recommend that New Oriental adopt a multi-pronged strategy to transform its live streaming operations, focusing on innovation, technology integration, and a data-driven approach. This strategy will involve leveraging AI and machine learning for personalized learning experiences, digital transformation to enhance student engagement, and strategic partnerships to expand reach and market share. This approach will position New Oriental as a leader in the evolving online education landscape, ensuring long-term growth and profitability.
2. Background
New Oriental, a leading Chinese education provider, faced a significant challenge in 2019: adapting to the rapidly changing online education landscape. The company's traditional live streaming model, while successful, lacked the personalization and engagement required to compete with newer, tech-driven platforms. The case study highlights the company's need to innovate, optimize its operations, and leverage technology to remain competitive.
The main protagonists of the case study are:
- Yu Minhong: Founder and CEO of New Oriental, who recognizes the need for change and is open to exploring new strategies.
- The New Oriental management team: Responsible for developing and implementing the company's transformation plan.
- New Oriental's students: The primary beneficiaries of the company's efforts to improve the online learning experience.
3. Analysis of the Case Study
To analyze New Oriental's situation, we can use the following frameworks:
1. SWOT Analysis:
- Strengths: Strong brand recognition, experienced teaching staff, established infrastructure, large student base.
- Weaknesses: Traditional live streaming model, lack of personalization, limited technology integration.
- Opportunities: Growing online education market, increasing demand for personalized learning, advancements in AI and machine learning.
- Threats: Competition from tech-driven platforms, evolving student preferences, potential regulatory changes.
2. Porter's Five Forces:
- Threat of new entrants: High, due to the ease of entry into the online education market.
- Bargaining power of buyers: Moderate, as students have multiple options available.
- Bargaining power of suppliers: Low, as the company relies on a large pool of teachers.
- Threat of substitute products: High, as students can access alternative learning resources online.
- Rivalry among existing competitors: High, as the online education market is becoming increasingly competitive.
3. Digital Transformation:
- New Oriental needs to implement a comprehensive digital transformation strategy to leverage technology for improved learning outcomes.
- This involves integrating AI and machine learning for personalized learning paths, creating interactive learning platforms, and utilizing data analytics to optimize content and delivery.
4. Corporate Social Responsibility:
- New Oriental has an opportunity to leverage its platform to promote social responsibility initiatives, such as providing free online courses to underprivileged students or partnering with NGOs to support education in underserved communities.
4. Recommendations
1. Implement a data-driven approach to personalize learning:
- Leverage AI and machine learning: Develop algorithms to analyze student data and tailor content, learning paths, and teaching methods based on individual needs and preferences.
- Utilize analytics dashboards: Provide teachers with real-time insights into student performance and engagement, enabling them to adjust their teaching strategies accordingly.
- Develop personalized learning platforms: Create interactive online platforms that offer adaptive learning experiences, gamification elements, and personalized feedback mechanisms.
2. Enhance student engagement through digital transformation:
- Develop interactive learning tools: Integrate virtual reality, augmented reality, and simulations into online courses to create immersive and engaging learning experiences.
- Foster online communities: Create online forums, chat groups, and virtual study sessions to encourage collaboration and interaction among students.
- Offer gamified learning experiences: Incorporate game mechanics and rewards systems to motivate students and enhance their learning experience.
3. Expand reach and market share through strategic partnerships:
- Collaborate with technology companies: Partner with leading technology providers to integrate AI, machine learning, and other advanced technologies into New Oriental's online platform.
- Form strategic alliances with educational institutions: Collaborate with universities and colleges to offer joint online programs and expand access to a wider student population.
- Develop partnerships with international organizations: Explore opportunities to expand into new markets and offer online courses to a global audience.
4. Foster a culture of innovation and continuous improvement:
- Invest in research and development: Allocate resources to explore new technologies and develop innovative learning solutions.
- Encourage experimentation and risk-taking: Create a culture that values experimentation and rewards employees for taking calculated risks.
- Embrace agile methodologies: Implement agile project management techniques to accelerate the development and deployment of new products and services.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of New Oriental's strengths, weaknesses, opportunities, and threats. They are also aligned with the company's mission to provide high-quality education and its commitment to innovation and customer satisfaction.
The recommendations consider the following:
- Core competencies and consistency with mission: The recommendations focus on leveraging New Oriental's existing strengths, such as its teaching expertise and brand recognition, while embracing new technologies to enhance the learning experience.
- External customers and internal clients: The recommendations are designed to improve the learning experience for students and empower teachers with the tools and resources they need to be successful.
- Competitors: The recommendations aim to differentiate New Oriental from its competitors by offering a more personalized, engaging, and tech-driven learning experience.
- Attractiveness - quantitative measures: The recommendations are expected to generate a positive return on investment through increased student enrollment, higher retention rates, and improved learning outcomes.
All assumptions, such as the continued growth of the online education market and the availability of skilled technology professionals, are explicitly stated.
6. Conclusion
By embracing innovation, technology integration, and a data-driven approach, New Oriental can transform its live streaming operations and position itself as a leader in the evolving online education landscape. This strategy will not only enhance student engagement and learning outcomes but also drive long-term growth and profitability for the company.
7. Discussion
Other alternatives not selected include:
- Maintaining the status quo: This would result in New Oriental falling behind its competitors and losing market share.
- Focusing solely on cost reduction: This would lead to a decline in the quality of education and could damage the company's reputation.
- Acquiring a technology company: This would be a costly and risky strategy, and there is no guarantee of success.
The key risks associated with the recommended strategy include:
- Technology adoption challenges: Implementing new technologies can be complex and time-consuming.
- Data privacy concerns: Collecting and using student data requires careful consideration of privacy regulations.
- Resistance to change: Some employees may resist the adoption of new technologies and processes.
The key assumptions underlying the recommendations include:
- The continued growth of the online education market.
- The availability of skilled technology professionals.
- The willingness of students to embrace new learning technologies.
8. Next Steps
To implement the recommended strategy, New Oriental should:
- Form a dedicated transformation team: This team should be responsible for developing and executing the company's digital transformation plan.
- Develop a clear roadmap: This roadmap should outline the key milestones, timelines, and resources required for successful implementation.
- Pilot test new technologies and solutions: This will allow the company to identify and address any challenges before rolling out the new platform to a wider audience.
- Continuously monitor and evaluate progress: Regularly track key performance indicators (KPIs) to measure the effectiveness of the transformation strategy and make adjustments as needed.
By taking these steps, New Oriental can ensure a smooth and successful transition to a more innovative and tech-driven online learning platform, positioning itself for long-term success in the competitive online education market.
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Case Description
As a leading education company in China, the New Oriental Education Technology Group is constantly responding to the challenges. In 2021, in response to the COVID-19 pandemic and China's "double reduction'"policy, New Oriental was actively engaged in a strategic transformation, seeking new directions. Major actions include joining the live e-commerce track, partnering with farmers and rural enterprises, and selling agricultural products on e-commerce platforms. New Oriental has achieved remarkable results in 2022 by highlighting its unique approach to live e-commerce. However, the company is finding it hard to sustain its current success, so New Oriental needs to determine its future directions.
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