Mr Yu: New Oriental needs to change business model

Absrtact: April 22 News, New Oriental founder Yu Yu said at the 2014 Green Company's annual meeting, more and more courses on the Internet can be free, many teachers to the master of the GRE 4 A-class courses on the Internet, which led to the new Oriental Charge course not to collect up, forming a fall

April 22 News, New Oriental founder Yu Yu said at the 2014 Green Company's annual meeting, more and more courses online free of charge, many teachers to the master of the GRE 4 A-class curriculum for free online, which led to the new Oriental charge courses can not be collected, forming a mechanism, the new oriental must change the business model, Otherwise it will fall behind.

Mr Yu said that the popularity of more and more learning costs low, more and more free, must take into account the characteristics of online education and offline service characteristics, reset their business model and business system.

New Oriental founder Yu Yu

"First of all I declare myself that I am excited about mobile Internet." "Yu said, compared to offline mode, the line has advantages, the line is usually about 1000 people, but through the online system has done a regular trial speech, a one-time 30,000 people listening, offline layout speech, spend 1 million, online layout speech, spend twenty thousand or thirty thousand."

In Mr Yu's view, this low-cost learning, borderless expansion of learning model, will give China unlimited hope.

In fact, at present, whether it is new Oriental or learning, these educational institutions are in succession to the Internet transformation, increase the input to online education. Early this year, New Oriental split its online education business to prepare for an independent IPO.

The following is a transcript of Mr Yu's Speech (part):

Mr Yu: What kind of revolution does the internet bring to China's education, frankly speaking, it is because the Internet appears, leading to Chinese education can no longer sit here to entertain themselves, with the development of the Internet, there are four major aspects of inevitable.

First, the world's quality education resources will be shared without Borders, a little thought, from a few years ago on the Internet Open Class, Harvard University, Cambridge University, Stanford University teacher lectures video circulated online, MOCC large-scale open courses, various universities in the provision of content, China's Tsinghua University, Peking University sit down, Start your own MOCC course.

Quality education resources to share, with China Mobile Internet development is very fast, this year to achieve 4G, after realization, means that every mobile phone in any place, smart phones, anytime, anywhere through video or intelligent push to learn.

In this case, China's large number of higher education, including primary and secondary education, must be pushed to reform, or to further the quality of teacher resources training, or close the door, simply let video into the campus teaching students.

Future online integration of education, will be any education field. I never thought that education would be purely online, except for the individual phenomenon, I do not think that pure education can be completed online, especially under the premise of mobile Internet, so the future education model will be diverse, and the most powerful education model, must be the line to open up the education model.

This is the same as the social field, pure social domain is a kind of unreal, contact people are not know, never seen on the ground, there is no feeling, purely on the ground contact, can not expand the social field.

Ground so a few friends, a certain social field in the middle, online to know more friends, the line about to meet, we are feeling better, mutual recognition, mutual trust, finally walked to the line.

Education is the same, online education will concentrate on the most abundant resources, to improve teaching efficiency, improve learning convenience, online education will enhance the interaction between people more profound, and in the middle of education, character personality education, wisdom education, etc. to rely on offline education, online education and offline education together, Become an integral part of the world's education system.

China now online education in the middle of the public schools do very poor, he knew to buy machines, equipment, to interact, this is not called online education, the real online education through the intelligent screening of knowledge, so that students can redouble their learning efficiency.

Now many companies in the question bank, the question bank itself does not matter, 1 million questions or 5 million questions on the study has no effect, the question bank is important in the intelligent rate after the election, originally do 1000 questions to achieve level, now through the function of the test questions to push, do 100 problems, examination pass, this is the real online education system.

Any educational institution, excluding online education, can not complete the whole education.

Online education will keep learning costs down, now online education has reached a point where a lot of courses are available free of charge, Harvard University Class A 1500 dollars or so, now on the Internet to study Harvard University courses, as long as you do not want to take a degree, these courses are free, More people can receive better education and less learning cost.

The field of new Oriental is now under free impact, many teachers simply put their own Buddhist GRE 4 A-class curriculum for free to go online, the new Oriental fee courses can not be collected, the formation of an inverted mechanism, must also change the business model, do not change will lag behind, low-cost learning a reality, High-cost intimate services can also become a reality.

Low cost is very simple, the world to travel, you can take an economy class, very cheap can go, the world's people enjoy high-quality services, spend hundreds of thousands of of travel, enjoy the journey of service, a large number of high-quality, intimate education services, popular more and more low-cost learning, more and more free. The characteristics of online education and the characteristics of offline services must be considered to reset their business models and business systems.

First of all, I said to myself, I am excited about the mobile Internet, and I can tell you an exciting point. Now I'm on the ground giving lectures on learning, I even learn more, is the maximum of ten thousand or twenty thousand people, in the big playground, is usually about 1000 people, but I through the online system has done a regular trial speech, a one-time 30,000 people listen, offline layout speech, flowers 1 million, online layout lectures, flowers Twenty thousand or thirty thousand.

Everyone immediately understand why I welcome the low cost learning and the borderless expansion learning model from my own teacher, because I am more on the educator's point of view, I think this kind of education will bring infinite hope to China.

Finally, the education product, content marketization, must finally become the government choice, what concept? The government finally had to pay to buy the products and content of market-oriented education, the reason is very simple.

Public education really produces quality can be market-oriented education products, teaching mode, education content is very difficult, the civil has appeared more and more educational research and development institutions, developed products are used by public schools, finally reversed, public schools must continue to buy folk education products, So that the folk education products quiet and the public education system combined to promote China's education reform and reforms. I have been desperate for the Chinese education system in the past, and today's education system, despite the trend of change, is not sincere.

The future of China's education system is really not sincere, they will change, the two forces mechanism of quality education resources in the world, as well as the mobile Internet, the Internet reform mechanism, must make the education system in the next 20 years than the past bloom more glorious.