On The Evaluation Of Business Model Innovation From The Perspective Of Finance:A Case Study Of S.F.Express

In recent years,with the popularization of Internet shopping and the development of information society,Chinese express industry is also developing rapidly,with the continuous improvement of express business volume.The support of national policies also brings more development opportunities for the development of express industry.But while the volume of express delivery business is rising,the revenue growth rate of express delivery industry is declining.Express industry has entered the era of scale,and market competition has gradually shifted from incremental market to inventory market.In the face of fierce competition,while consolidating traditional businesses,S.F.Express are seeking for innovation in business models,expanding new businesses and finding new growth points,as a veteran enterprise in Chinese express delivery and logistics industry,which is also the only express delivery company with a direct mode.S.F.Express also actively promotes its' change from “asset-heavy” mode to “asset-light + asset-heavy” mode,from single timeliness business to diversified business.This paper mainly uses the case study method and uses S.F.Express as a case research company.In order to more intuitively understand the reasons for the transformation of the business model of S.F.Express,the impact of business model innovation on corporate finance,and the embodiment of specific business,this paper uses the “438 model” as the evaluation framework of the business model under the financial perspective.This paper analyzes three aspects: profit driven dimension,resource allocation dimension and value creation dimension.These three aspects specifically analyze the financial performance of S.F.Express business model innovation and how the financial impact on S.F.Express business model innovation.At the same time,the analysis was compared with the industry to better understand the situation in the industry as a whole.Through the evaluation and analysis of the innovation of the business model,we can find that there are some experiences worth further development in the innovation of the business model of S.F.Express.The specific summary is as follows: First,the new business brings potential growth points to the company.Second,off-balance-sheet investment has increased core competitiveness.At the same time,however,there are some problems: the relatively low share of new business income,the reduction of free cash flow,and the higher fixed cost of infrastructure.In order to achieve better results in business model innovation,and for the sustainable development of enterprises,this paper,based on the analysis results of business model innovation evaluation from the perspective of finance,puts forward suggestions for the development of business model innovation in S.F.Express: the first is to continue to maintain the advantages of direct mode;Second,while maintaining the steady development of traditional business,it is necessary to continue to expand diversified business areas;The third is to control the cost and cost of enterprises,such as logistics labor costs and inventory costs;Fourth,it is necessary to make comprehensive investment in financial resources and non-financial resources,from the model of asset heavy to the model of light assets combined with heavy assets.Finally,it is necessary to enhance the ability of enterprises to grow,that is,to develop sustainably.The main innovation points in this paper are reflected in two aspects: First,financial analysis and business model research are usually limited to their respective fields.This article combines them and analyzes the business model innovation of enterprises using the business model evaluation framework under the financial perspective.Inheriting the existing results of business model research,it also embodies the relationship between financial management and business model.Second,the existing literature has less research on the business model of express delivery enterprises such as S.F.Express,and even less evaluation of the business model innovation of express delivery enterprises from the financial perspective.Starting from the financial dimension,this paper evaluates and analyzes the business model innovation of S.F.Express vertically and horizontally,and puts forward some suggestions for the future development of S.F.Express.For other enterprises in the same industry evaluation of business model innovation and optimization of business model may have a certain reference.The research limitations of this paper include: The financial data of this paper mainly comes from the annual report of the company rather than the first-hand information of the company,which may make the research content insufficient and incomplete;In addition,this paper only selected a company as a case study,it can not fully represent and reflect all express enterprises,the research results of the industry needs to be verified.