Research On The Development Strategy Of LG Elderly Service Group Co.,Ltd.

In 2000,China became an aging society.By the end of 2019,China's population aged 65 and over had reached 176 million,accounting for 12.57 percent of the total population.With the rapid increase of the elderly population,the pension industry has undergone earth-shaking changes after more than a decade of accumulation and development.LG pension group co.,LTD.,as a pension service company listed on the new third board in 2016,has a relatively standardized and perfect business system,which is a typical case of the industrialization scale of China's current private enterprises in the pension service market.Based on LG endowment group co.,LTD as the research object,by analyzing the current status of the development of the company and the difficulty,using the theory and methods of development strategy for the company,a detailed analysis to comb through the company's internal resources,adopting PEST method to analyze the macro environment of company,using the potter five models of pension industry competitive situation is analyzed,and the SWOT analysis method for comprehensive evaluation of the company's strategic environment by comparing the possibility of a variety of competitive strategy,second step respectively according to the overall development strategy of two different competitive strategy was adopted to realize the healthy development of enterprises.In the first stage of consolidation and promotion(1-2 years),focus on the competitive strategy to do a good job in the current pension service,improve the pension occupancy rate,reduce costs,and quickly realize capital return,laying a good foundation for the subsequent development of the enterprise.In the second stage of rapid development(3-5 years),the company adopts the differentiated competition strategy under the guarantee of sufficient funds,grasps the development opportunity,expands the service scope,and develops into a medical-nursing combined old-age care enterprise with influence in local and even the whole country.Finally,in order to make sure the strategy carried out smoothly,the corresponding guarantee scheme is provided to ensure the company can develope healthy and orderly.Through the research and analysis of LG pension group co.,LTD.,this paper can make use of the enterprise operation scale,financial status and development statusprovide a certain degree of reference for the benign development of other pension service companies some ideas on how to better deal with the common problems existing in current pension service companies.