Research On Business Model Innovation Of Short Video Platform Enterprises Based On Value Co-creation Theory

Business model innovation is a useful method for enterprises'sustainable development in the changeable market.With the rapid expansion of short video market,the growth rate of short video platform's user scale tends to slow down,and the competition in the industry becomes increasingly fierce.The strategic focus of short video platform enterprises has shifted from user growth to profit growth,we named this period as the stage of commercialization.Enterprises need to carry out business model innovation in order to gain competitive advantage.Based on the theory of value co-creation,this paper focuses on the value-creating ability of users and business partner of short video platform.On the basis of literature review,it constructs the research model of business model innovation to analyze the driving factors and elements of short video platforms' innovation.It divides the business model innovation structure into four elements:value proposition,value co-creation,value transmission and value acquisition.Through the case study of Kuaishou technology,the specific innovation direction and measures under each module are discussed.The research shows that business model innovation is driven by four external factors such as changes in user requirement and technology innovation,and two internal factors,enterprise changes in strategic and internal capability upgrading.It follow the model that optimizes value proposition,creates value collaboratively,transmits value interactively and diversifies value acquisition.As the main character of value co-creation,users,partners and enterprises create different value in each element of business model.They are connected by the short video platform in multiple businesses.In order to achieve collaborative innovation and maximize value production,value propositions should be formulated based on open dialogue with users and partners,and value co-production should be achieved through continuous interaction.At the same time,short video enterprises should use the shared resource channel to transfer value,and form a multi-business multi-cooperation value acquisition model.This paper enriches the research of short video industry's business model,provides management enlightenment for enterprises on how to cooperate with users and partners in business model innovation in the perspective of value co-creation.