Chapter 82 On April 23, the property right is Zhangwang

In New Oriental, there are two systems of property rights. The property rights of New Oriental Schools belong to the state, while the property rights of New Oriental Education Technology Group Corporation belong to the joint-stock system and are quantified to individuals.This is where the complexity of New Oriental lies - it is a difficult action for a group of people with no business experience to coordinate the operation of the enterprise and the operation of the school at the same time.This is also the underlying reason why New Oriental was always in turmoil in personnel affairs in the past few years.

It was after 2003 that New Oriental truly matured in terms of joint-stock reform and corporate governance.The former New Oriental and Yu Minhong have been in a simple state of "teaching for money" and "taking money for teaching" for a long time, and their business and life are relatively simple.However, as the scale of the school becomes larger and larger, the practical problem of benefit sharing begins to become extremely acute and prominent.Well-educated overseas returnees still only have a book-level understanding of corporate corporatization and capitalization transformation, and lack a deep understanding of the complexity and arduousness of joint-stock system construction. It aroused unusually strong anger and resistance on a certain level.As the core figure of New Oriental, Yu Minhong's character and deeds fundamentally determine the fate of New Oriental.

Yu Minhong once laughed at himself, "Most of the original founders of New Oriental were teachers and intellectuals, and they were business nerds." After 2000, New Oriental schools began to gradually "replicate" all over the country, and teachers' desire to share benefits was also expanding. When the two collided, the intensification of conflicts was inevitable.New Oriental is getting bigger and bigger, Yu Minhong's management ability becomes more and more important.The management ability and operating level are inseparable from the company's property rights system.

These years of personal experience told Yu Minhong: Property rights are like a net, and the more you struggle, the tighter it becomes. Excellent business leaders will achieve self-liberation and break through sensitive property rights issues through system design and shareholding reform.