Study On The Motivation And Effect Of Asset-Light Operation Model In Household Industry

The household industry is an important industry related to the people’s livelihood.It reflects the people’s pursuit of the better living environment and is also an important basic industry of the national economy.It is directly related to the economic and social development and the vital interests of the people.In recent years,the national real estate policy has continued to adhere to the principle of "housing without speculation" and deleveraging.The residential nature of houses has been further highlighted,which has gradually released consumer demand such as the renovation of old houses,the simple decoration of rented houses and the optimization of stock houses’ pattern.In addition,the continuous growth of residents’ disposable income and the steady progress of urbanization have provided strong support for the growth of the demand in the household industry.What is more,in recent years,the implementation of a series of national policies in the household industry has also created a good policy and consumption environment for the household industry,which promoted the high-quality development of the household industry.However,the household industry is also facing some new challenges.There are many market participants.Some well-known foreign household brands,such as IKEA,have also entered the domestic market.The industry competition is very fierce,coupled with the impact of the epidemic,how to cope with the changing external environment and achieve new growth in the new opportunities has become an urgent problem to be solved by every enterprise in the household industry.The asset-light operation mode is one of the new directions of modern enterprise operation.Its essence is to focus on the high value-added part of the value chain such as research and development,design,brand and other soft power,and combine its core competitiveness and competitive advantage,leverage as many resources as possible with light assets,so as to maximize the value and profit of the enterprise.Red Star Macalline,as the first leading enterprise in the household industry to be listed on both "A+H" shares,has changed its business model in a timely manner and actively explored the asset light operation model in a highly competitive environment.Therefore,this thesis selects Red Star Macalline as the research object,and takes the value chain theory,smile curve theory and core competitiveness theory as the theoretical basis.First,combining with the policy background and industry characteristics of the household industry,it combs and summarizes the ways and motivations of implementing asset-light operation in the household industry,which lays the foundation for the following case analysis.Next,the case company is introduced,and the motivation and strategies for implementing asset-light operation are summarized.After that,the effect of implementing asset-light operation of Red Star Macalline is analyzed by using event study method,comparative analysis method and normative research method,the research conclusions are finally drawn.Through the analysis,it is found that Red Star Macalline’s implementation of asset-light operation has brought some positive influences to it.For example,the strategy of stripping off non-main business has improved the company’s return rate in a short term,and optimized the company’s resource allocation;The use efficiency and market share of the company’s fixed assets have been improved;The company’s business structure has been optimized,etc.But there are still some problems in the process of implementing asset-light operation,such as the company’s expense control still needs to be strengthened;The company’s solvency has not been well improved.Based on the above conclusions,this thesis puts forward relevant suggestions for Red Star Macalline,hoping to provide some reference and inspiration for enterprises that will implement the asset-light operation mode in the household industry.