Behind the “New Oriental”

Describe the past, the fall, and the transformation with the “New Oriental” and offer some comments.

A. The Past

  1. Company Profile:
    Self-positioning:
    A comprehensive education group centered on the overall growth of students and driven by technology.

Business Scope:
New Oriental, full name Beijing New Oriental Education Technology (Group) Co., Ltd., is headquartered in Zhongguancun, Haidian District, Beijing, China. It is a comprehensive education group as well as an education training group. The company’s business includes foreign language training, elementary and secondary education, preschool education, online education, overseas consulting, book publishing, and other fields.

Corporate Group Composition:
In addition to New Oriental, there are also sub-brands such as Youneng Middle School Education, Bubble Children’s Education, Future Overseas Consulting, Xuncheng Online Education, Dayu Culture Publishing, Gypsophila Parent-child Education, and Tongwen College Entrance Examination Retake.

The vision:
Become an excellent, respectable, and culturally valuable educational institution in China.

Mission:
Work hard to enhance students’ lifelong competitiveness, shape students’ civic quality, and give students a global perspective!

Core value:
Integrity and responsibility, sincere care and love, studious and diligent, ambitious

Education concept:
Lifelong learning Global perspective Independent personality Social responsibility

New Oriental Spirit:
Pursue excellence, challenge the limit, find hope from despair, and life will be glorious in the end!

  1. Chronology of events:
    Open source exploration period:

On November 15, 1993, Beijing New Oriental School was established.At the end of 1995, the number of New Oriental students exceeded 15,000. A large number of elites at home and abroad joined the New Oriental entrepreneurial team.

In 1996, the first New Oriental Bookstore was born.

In 1998, the New Oriental Practical English talent training system began to take shape, and the Practical English Academy was born.

On June 1, 2000, Shanghai New Oriental School was registered and established

In 2000, New Oriental Schools were established in Shanghai and Guangzhou. In December, New Oriental Education Online was established and officially entered the field of distance education.

In 2001, the New Oriental Education Technology Group was established, and New Oriental entered the development stage of an international and diversified education group

  1. Rapid expansion period:

during 2001 to 2021, the New Oriental Education expand rapidly, from a small company to a big corporation

  1. Sudden crash period:

On May 17, the Beijing Municipal Education Commission issued the “Notice of the Beijing Municipal Education Commission on Examining Problems Found in Off-campus Training Institutions” (Jingjiaohan [2021] No. 216). The report pointed out that recently, the Beijing-level relevant departments organized an inspection team to inspect the training institutions outside the city, and found that some institutions had violations. New Oriental and other training institutions were named.

In October, New Oriental Education Technology (Group) Co., Ltd. issued a notice on the organizational structure adjustment of the group’s training school business department, canceling the Bubble Children’s Department and Youneng Junior High School, and establishing an international study tour and camp education department.

Comments:
New Oriental was originally an educational institution and gradually innovated and developed with its unique vision and ideas and established a “New Oriental Education Dynasty”. Objectively speaking, New Oriental’s success has taken advantage of the increase in national surplus assets since the reform and opening up and the country’s increased demand for contact with the outside world. It does reflect the educational philosophy of the vast middle and lower classes of China formed at that time due to economic growth and improved living conditions: the transformation from “stocking” to “custodial”. At the same time, New Oriental’s successful model provides a template for the development of various educational institutions in the market, laying a solid foundation for the formation of China’s unique education system—school/institutional education system, and also for the Ministry of Education to carry out education reform and policy design Provide guidance. Objectively speaking, the original educational structure of New Oriental focused on foreign languages, which itself was aimed at the middle class, and trained many foreign language talents for China in the early 21st century. Since then, with the development of the group, New Oriental has gradually introduced other education modules and transformed them into a comprehensive education group. During this period, the scale of New Oriental has grown tremendously. However, due to lack of careful reflection and adjustment, this kind of corporate and profitable expansion of the institutional education system has had a negative impact on the orthodox school education system promoted by the government and even made the government feel threatened. This is the foreshadowing of the fall of New Oriental.

B. The Fall

Stock market events:
April 21 (From this day, the overall trend of New Oriental’s stock price began to fall all the way)

“On April 14, Xi Jinping, General Secretary of the Central Committee of the Communist Party of China, Chairman of the State Council, and Chairman of the Central Military Commission issued important instructions to vocational education. Leaders, adhere to the correct direction of running a school, adhere to the virtues of fostering people, optimize the type and positioning of vocational education, deepen the integration of industry and education, school-enterprise cooperation, in-depth advance the reform of education methods, school running models, management systems, and security mechanisms, and steadily develop vocational undergraduate education. Build a number of high-level vocational colleges and majors, promote the universal integration of vocational education, enhance the adaptability of vocational education, accelerate the construction of a modern vocational education system, and cultivate more high-quality technical and skilled personnel, skilled craftsmen, and artisans from major countries. Party committees and governments at all levels should increase Large-scale system innovation, policy supply, investment, promote the spirit of craftsmanship, improve the social status of technical and skilled personnel, and provide powerful talent and technical support for the comprehensive construction of a modern socialist country and the realization of the Chinese Dream of the great rejuvenation of the Chinese nation.” (Extracted from Xinhua News Agency)

May 20 (the “double reduction” policy is about to take shape, and the stock price has fallen off a cliff)

“Opinions on Further Reducing the Work Burden of Students in the Compulsory Education Stage and the Burden of Off-campus Training”-the “double reduction” policy, aimed at further reducing the workload of students in the compulsory education stage and the burden of off-campus training; Tenth by the Central Committee for Comprehensive Deepening Reform The nine meetings were reviewed and approved on May 21, 2021.

Leave a Reply

Your email address will not be published.